Asante Solutions (NASDAQ:PUMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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A number of other research firms also recently issued reports on PUMP. Stephens raised their price target on Asante Solutions to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, November 8th. Royal Bank of Canada set a $22.00 price target on Asante Solutions and gave the stock a “buy” rating in a research note on Thursday, November 8th. Citigroup assumed coverage on Asante Solutions in a research note on Monday, November 19th. They set a “buy” rating and a $25.00 price target on the stock. Raymond James raised their price target on Asante Solutions from $24.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 8th. Finally, Credit Suisse Group set a $20.00 price target on Asante Solutions and gave the stock a “buy” rating in a research note on Friday, November 9th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $22.00.
Asante Solutions (NASDAQ:PUMP) last released its quarterly earnings results on Tuesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The company had revenue of $434.00 million during the quarter, compared to analysts’ expectations of $447.84 million. The firm’s revenue was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS.
In other Asante Solutions news, Director Spencer D. Armour III sold 22,500 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $19.17, for a total transaction of $431,325.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of institutional investors have recently bought and sold shares of PUMP. Teachers Advisors LLC lifted its position in Asante Solutions by 607.8% during the 3rd quarter. Teachers Advisors LLC now owns 879,103 shares of the company’s stock worth $14,496,000 after acquiring an additional 754,908 shares during the period. Bank of New York Mellon Corp lifted its position in Asante Solutions by 231.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 972,237 shares of the company’s stock worth $15,245,000 after acquiring an additional 679,172 shares during the period. Marshall Wace North America L.P. acquired a new stake in Asante Solutions during the 3rd quarter worth approximately $4,451,000. Luminus Management LLC acquired a new stake in Asante Solutions during the 3rd quarter worth approximately $3,899,000. Finally, United Services Automobile Association lifted its position in Asante Solutions by 76.0% during the 2nd quarter. United Services Automobile Association now owns 525,974 shares of the company’s stock worth $8,247,000 after acquiring an additional 227,096 shares during the period.
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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