Asante Solutions Inc (NASDAQ:PUMP) shares were down 7% during mid-day trading on Thursday . The stock traded as low as $16.58 and last traded at $16.86, approximately 1,105,590 shares changed hands during trading. A decline of 14% from the average daily volume of 1,287,609 shares. The stock had previously closed at $18.13.
Several equities research analysts have issued reports on PUMP shares. Citigroup set a $25.00 target price on shares of Asante Solutions and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. B. Riley started coverage on shares of Asante Solutions in a research note on Friday, May 17th. They set a “buy” rating and a $29.00 target price on the stock. Zacks Investment Research cut shares of Asante Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Bank of America reaffirmed a “neutral” rating on shares of Asante Solutions in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus lowered Asante Solutions to a “buy” rating and set a $9.00 price target on the stock. in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $23.20.
The firm has a fifty day simple moving average of $18.66.
Asante Solutions (NASDAQ:PUMP) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.62 by $0.05. The company had revenue of $546.20 million for the quarter, compared to analysts’ expectations of $519.39 million. The firm’s revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS.
In related news, Director Spencer D. Armour III sold 22,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $18.95, for a total value of $426,375.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 67,500 shares of company stock worth $1,278,000.
A number of institutional investors and hedge funds have recently modified their holdings of PUMP. Norges Bank purchased a new stake in Asante Solutions in the 4th quarter valued at about $6,528,000. Kennedy Capital Management Inc. acquired a new position in Asante Solutions in the 1st quarter valued at about $9,385,000. Marshall Wace North America L.P. grew its position in Asante Solutions by 634.1% in 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 acquiring an additional 156,740 shares in the last quarter. Geode Capital Management LLC grew its position in Asante Solutions by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 744,009 shares of the company’s stock valued at $9,166,000 after acquiring an additional 68,290 shares in the last quarter. Finally, Argent Capital Management LLC grew its position in Asante Solutions by 34.1% in the 1st quarter. Argent Capital Management LLC now owns 157,255 shares of the company’s stock valued at $3,545,000 after acquiring an additional 39,950 shares in the last quarter.
About Asante Solutions (NASDAQ:PUMP)
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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