Asensus Surgical (NYSEAMERICAN:ASXC) Posts Earnings Results, Beats Estimates By $0.01 EPS

Asensus Surgical (NYSEAMERICAN:ASXC) issued its earnings results on Tuesday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01, reports. Asensus Surgical had a negative return on equity of 103.62% and a negative net margin of 1,409.77%. The firm had revenue of $1.09 million for the quarter, compared to analysts’ expectations of $1.50 million.

Asensus Surgical Price Performance

Shares of ASXC stock traded up $0.01 on Friday, hitting $0.23. The stock had a trading volume of 942,626 shares, compared to its average volume of 1,723,563. Asensus Surgical has a one year low of $0.20 and a one year high of $1.18. The company has a market capitalization of $60.56 million, a P/E ratio of -0.68 and a beta of 1.49.

Hedge Funds Weigh In On Asensus Surgical

Large investors have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in Asensus Surgical by 3,552.4% in the second quarter. Millennium Management LLC now owns 5,040,838 shares of the company’s stock worth $2,007,000 after purchasing an additional 4,902,823 shares in the last quarter. Masters Capital Management LLC purchased a new stake in Asensus Surgical during the first quarter valued at approximately $1,213,000. Vanguard Group Inc. lifted its position in Asensus Surgical by 5.3% during the third quarter. Vanguard Group Inc. now owns 11,431,792 shares of the company’s stock valued at $5,130,000 after acquiring an additional 575,904 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in Asensus Surgical in the first quarter valued at approximately $329,000. Finally, AQR Capital Management LLC purchased a new position in Asensus Surgical in the second quarter worth $106,000. Institutional investors own 10.06% of the company’s stock.

Analyst Ratings Changes

ASXC has been the topic of a number of research reports. Cantor Fitzgerald downgraded shares of Asensus Surgical from an “overweight” rating to a “neutral” rating in a report on Thursday. HC Wainwright reissued a “buy” rating and set a $2.00 price objective on shares of Asensus Surgical in a research note on Wednesday.

Asensus Surgical Company Profile

Asensus Surgical, Inc, a medical device company, engages in the research, development, and sale of medical device robotics to enhance minimally invasive surgery (MIS) in the United States, Europe, the Middle East, Africa, and Asia. It digitizes the interface between the surgeon and the patient to pioneer a new era of Performance-Guided surgery by unlocking clinical intelligence for surgeons to enable consistently superior outcomes and a new standard of surgery.