Asante Solutions (PUMP) Upgraded to “Buy” by Zacks Investment Research

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Asante Solutions (NASDAQ:PUMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $15.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 2.95% from the stock’s previous close.

According to Zacks, “ProPetro Holding Corp. provides oilfield services. It offers hydraulic fracturing and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. ProPetro Holding Corp. is headquartered in Midland, Texas. “

Several other equities analysts have also recently commented on PUMP. Credit Suisse Group set a $21.00 target price on Asante Solutions and gave the company a “buy” rating in a research note on Thursday, November 15th. Tudor Pickering upgraded Asante Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday. Bank of America began coverage on Asante Solutions in a research note on Wednesday, October 17th. They set a “buy” rating for the company. Johnson Rice set a $24.00 target price on Asante Solutions and gave the company a “buy” rating in a research note on Thursday, November 15th. Finally, R. F. Lafferty reiterated a “buy” rating on shares of Asante Solutions in a research note on Thursday, December 6th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.00.

NASDAQ:PUMP traded up $0.03 during trading hours on Tuesday, hitting $14.57. The stock had a trading volume of 8,702 shares, compared to its average volume of 1,459,708. Asante Solutions has a 1-year low of $11.27 and a 1-year high of $22.88.

Asante Solutions (NASDAQ:PUMP) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). The business had revenue of $434.00 million for the quarter, compared to the consensus estimate of $447.84 million. During the same period last year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was up 53.5% compared to the same quarter last year.

In related news, Director Spencer D. Armour III sold 22,500 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $19.17, for a total transaction of $431,325.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

A number of institutional investors and hedge funds have recently made changes to their positions in PUMP. Riverhead Capital Management LLC bought a new position in Asante Solutions during the second quarter worth $152,000. Dorsey & Whitney Trust CO LLC bought a new position in Asante Solutions during the third quarter worth $189,000. Quantbot Technologies LP bought a new position in Asante Solutions during the third quarter worth $199,000. Flinton Capital Management LLC lifted its stake in Asante Solutions by 423.7% during the second quarter. Flinton Capital Management LLC now owns 14,496 shares of the company’s stock worth $227,000 after purchasing an additional 11,728 shares during the last quarter. Finally, First Hawaiian Bank bought a new position in Asante Solutions during the third quarter worth $268,000.

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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Analyst Recommendations for Asante Solutions (NASDAQ:PUMP)

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