Asante Solutions (NASDAQ:PUMP) has been assigned a $24.00 price objective by Royal Bank of Canada in a report released on Thursday, December 21st. The firm presently has a “buy” rating on the stock.
A number of other equities research analysts have also recently commented on PUMP. Barclays reiterated a “hold” rating and set a $18.00 target price on shares of Asante Solutions in a report on Friday, November 10th. Zacks Investment Research upgraded Asante Solutions from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Friday, November 10th. SunTrust Banks assumed coverage on Asante Solutions in a report on Wednesday, December 20th. They set a “buy” rating and a $27.00 target price on the stock. BidaskClub cut Asante Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Jefferies Group assumed coverage on Asante Solutions in a report on Thursday, October 5th. They set a “buy” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $21.07.
Asante Solutions (NASDAQ:PUMP) last issued its earnings results on Wednesday, November 1st. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $282.70 million for the quarter, compared to analysts’ expectations of $261.69 million. Asante Solutions’s revenue for the quarter was up 32.4% on a year-over-year basis.
In related 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 value of $207,966,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new position in Asante Solutions in the second quarter valued at about $103,000. Mitchell Group Inc. increased its position in shares of Asante Solutions by 1.9% during the second quarter. Mitchell Group Inc. now owns 708,140 shares of the company’s stock worth $9,886,000 after acquiring an additional 13,260 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Asante Solutions during the second quarter worth about $376,000. California State Teachers Retirement System purchased a new stake in shares of Asante Solutions during the second quarter worth about $625,000. Finally, Teachers Advisors LLC purchased a new stake in shares of Asante Solutions during the second quarter worth about $637,000.
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Asante Solutions Company Profile
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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