Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Asante Solutions from a strong-buy rating to a buy rating in a research note on Thursday, April 25th. B. Riley assumed coverage on shares of Asante Solutions in a research note on Friday, May 17th. They issued a buy rating and a $29.00 price objective for the company. Zacks Investment Research lowered shares of Asante Solutions from a buy rating to a hold rating in a research note on Wednesday, May 15th. Raymond James lowered shares of Asante Solutions from a strong-buy rating to an outperform rating and set a $25.00 price objective for the company. in a research note on Thursday, April 4th. They noted that the move was a valuation call. Finally, Wells Fargo & Co assumed coverage on shares of Asante Solutions in a research note on Friday, March 29th. They issued an outperform rating for the company. Three research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $23.35.
NASDAQ:PUMP opened at $18.81 on Thursday. Asante Solutions has a 12 month low of $11.27 and a 12 month high of $25.38.
Asante Solutions (NASDAQ:PUMP) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. The business had revenue of $546.20 million during the quarter, compared to analysts’ expectations of $519.39 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 41.8% on a year-over-year basis.
In other news, Director Spencer D. Armour III sold 22,500 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $20.60, for a total transaction of $463,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 67,500 shares of company stock valued at $1,435,500 over the last 90 days.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PUMP. Norges Bank purchased a new position in shares of Asante Solutions during the 4th quarter valued at $6,528,000. Kennedy Capital Management Inc. purchased a new position in shares of Asante Solutions during the 1st quarter valued at $9,385,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Asante Solutions during the 4th quarter valued at $28,000. Marshall Wace North America L.P. grew its position in shares of Asante Solutions by 634.1% during the 1st quarter. Marshall Wace North America L.P. now owns 181,460 shares of the company’s stock valued at $4,091,000 after purchasing an additional 156,740 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Asante Solutions by 12.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,112,627 shares of the company’s stock valued at $13,708,000 after purchasing an additional 118,785 shares in the last quarter.
About Asante Solutions
Asante Solutions, Inc is a medical device company. The Company is a manufacturer of Asante Snap Insulin Pump System (Snap system), which is a pump featuring a modular design with pre-filled insulin cartridges and disposable pump bodies, utilized in combination with a controller. The Snap system comprises four components: the Snap system controller, a disposable pump body, disposable pre-filled insulin cartridges and disposable infusion sets.
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