Equities research analysts at Stephens started coverage on shares of Asante Solutions (NASDAQ:PUMP) in a research report issued to clients and investors on Tuesday. The brokerage set an “overweight” rating and a $24.00 price target on the stock. Stephens’ target price would suggest a potential upside of 11.42% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Royal Bank of Canada set a $20.00 price target on Asante Solutions and gave the company a “buy” rating in a research note on Sunday, October 22nd. Barclays restated a “hold” rating and issued a $18.00 price target on shares of Asante Solutions in a research note on Friday, November 10th. Zacks Investment Research upgraded Asante Solutions from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Friday, November 10th. SunTrust Banks started coverage on Asante Solutions in a research note on Wednesday, December 20th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, BidaskClub cut Asante Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $21.07.
Asante Solutions (NASDAQ:PUMP) traded up $1.54 on Tuesday, reaching $21.54. The company had a trading volume of 1,310,217 shares.
Asante Solutions (NASDAQ:PUMP) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $282.70 million during the quarter, compared to the consensus estimate of $261.69 million. The business’s revenue was up 32.4% on a year-over-year basis.
In other Asante Solutions news, major shareholder Energy Capital Partners Ii, Ll sold 13,800,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $15.07, for a total transaction of $207,966,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new stake in shares of Asante Solutions during the 2nd quarter worth $1,383,000. Balyasny Asset Management LLC acquired a new stake in shares of Asante Solutions during the 2nd quarter worth $4,841,000. Nationwide Fund Advisors grew its holdings in shares of Asante Solutions by 273.1% during the 2nd quarter. Nationwide Fund Advisors now owns 94,382 shares of the company’s stock worth $1,318,000 after purchasing an additional 69,082 shares in the last quarter. Fred Alger Management Inc. acquired a new stake in shares of Asante Solutions during the 2nd quarter worth $3,497,000. Finally, Viking Fund Management LLC grew its holdings in shares of Asante Solutions by 29.1% during the 3rd quarter. Viking Fund Management LLC now owns 1,020,000 shares of the company’s stock worth $14,637,000 after purchasing an additional 230,000 shares in the last quarter.
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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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