Piper Jaffray Companies upgraded shares of Asante Solutions (NASDAQ:PUMP) from a neutral rating to an overweight rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. They currently have $12.00 price objective on the stock, down from their prior price objective of $17.00.
Several other research analysts have also recently weighed in on PUMP. Citigroup decreased their price objective on shares of Asante Solutions from $10.70 to $10.30 and set a neutral rating for the company in a report on Tuesday, October 1st. Bank of America decreased their price objective on shares of Asante Solutions from $18.00 to $13.00 and set a neutral rating for the company in a report on Wednesday, August 28th. Evercore ISI reissued a buy rating and set a $26.00 price objective on shares of Asante Solutions in a report on Sunday, August 11th. Raymond James set a $26.00 price objective on shares of Asante Solutions and gave the company a buy rating in a report on Tuesday, July 2nd. Finally, Wells Fargo & Co reissued a buy rating on shares of Asante Solutions in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Asante Solutions has an average rating of Buy and an average price target of $17.68.
Asante Solutions stock traded down $0.11 during trading hours on Thursday, hitting $9.32. The stock had a trading volume of 3,381,475 shares, compared to its average volume of 1,578,966. Asante Solutions has a 12-month low of $7.77 and a 12-month high of $25.38. The stock’s 50-day moving average price is $9.71 and its 200-day moving average price is $17.01.
Asante Solutions (NASDAQ:PUMP) last issued its earnings results on Thursday, August 8th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.31). The business had revenue of $529.50 million for the quarter, compared to analyst estimates of $525.58 million. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share.
In other Asante Solutions news, Director Spencer D. Armour III sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $17.25, for a total transaction of $388,125.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of hedge funds have recently made changes to their positions in PUMP. Paloma Partners Management Co purchased a new stake in Asante Solutions during the second quarter valued at approximately $317,000. IHT Wealth Management LLC purchased a new stake in Asante Solutions during the second quarter valued at approximately $334,000. Public Employees Retirement Association of Colorado purchased a new stake in Asante Solutions during the second quarter valued at approximately $352,000. Dupont Capital Management Corp purchased a new stake in Asante Solutions during the second quarter valued at approximately $419,000. Finally, Meeder Asset Management Inc. increased its holdings in Asante Solutions by 25.2% during the second quarter. Meeder Asset Management Inc. now owns 21,269 shares of the company’s stock valued at $440,000 after buying an additional 4,284 shares during the last quarter.
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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