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What's in Store for Asensus Surgical's (ASXC) Q1 Earnings?

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Asensus Surgical, Inc. (ASXC - Free Report) is scheduled to release first-quarter 2021 results on May 11, after the closing bell. In the last reported quarter, the company reported a loss of 9 cents per share, narrower than the Zacks Consensus Estimate of a loss of 11 cents per share.

Q1 Estimates

Currently, the Zacks Consensus Estimate for first-quarter revenues is pegged at $1.60 million, suggesting growth of 166.7% from the year-ago reported figure. The consensus estimate for the bottom line stands at a loss of 7 cents per share.

Factors to Note

Asensus Surgical is likely to have witnessed revenue growth in first-quarter 2021, driven by strength in product and services revenues.

In March 2021, Asensus Surgical received an additional FDA clearance for the Senhance Surgical System that enables for indication expansion in general surgery in the United States.

In February, the company collaborated with the Amsterdam Skills Centre (ASC) in the Netherlands for surgical training. This site will cater to surgeons and staff across Europe with basic and advanced training on the Senhance Surgical System. The ASC will also offer Asensus Surgical with a world-class facility that will drive engagement for European surgeons in technology and clinical development studies.

Asensus Surgical, Inc. Price and EPS Surprise

Asensus Surgical, Inc. Price and EPS Surprise

Asensus Surgical, Inc. price-eps-surprise | Asensus Surgical, Inc. Quote

In January, Asensus Surgical received CE Mark for the ISU, thereby allowing machine vision capabilities on the Senhance Surgical System. This approval will help Senhance digital laparoscopic programs in Europe to gain access to this new technology, which in turn will help the company pioneer surgical innovation utilizing augmented intelligence.

In December 2020, the company’s Senhance Surgical System received its registration certificate by the Russian medical device regulatory agency – Roszdravnadzor – that will enable the sale and utilization of the same across the Russian Federation.  

These developments are likely to have contributed to the to-be-reported quarter’s performance.

What Our Quantitative Model Suggests

Per our proven model, a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.

Earnings ESP: Asensus Surgical has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company carries a Zacks Rank #3.

Stocks Worth a Look

Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.

National Vision Holdings, Inc. (EYE - Free Report) has an Earnings ESP of +1.02% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.

American Well Corporation (AMWL - Free Report) has an Earnings ESP of +9.44% and a Zacks Rank of 3.

Evolus, Inc. (EOLS - Free Report) has an Earnings ESP of +3.36% and a Zacks Rank of 3.

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