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.
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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.
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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