Asante Solutions (NASDAQ:PUMP) was downgraded by stock analysts at Stifel Nicolaus to a “buy” rating in a note issued to investors on Thursday. They currently have a $9.00 price objective on the stock. Stifel Nicolaus’ price target points to a potential downside of 52.15% from the company’s current price.
Several other research firms have also recently weighed in on PUMP. Goldman Sachs Group started coverage on shares of Asante Solutions in a report on Sunday, March 10th. They set a “buy” rating and a $28.00 price target on the stock. Bank of America reiterated a “neutral” rating on shares of Asante Solutions in a research note on Tuesday, April 16th. Zacks Investment Research upgraded shares of Asante Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. B. Riley initiated coverage on shares of Asante Solutions in a research note on Friday, May 17th. They issued a “buy” rating and a $29.00 target price on the stock. Finally, Royal Bank of Canada set a $24.00 target price on shares of Asante Solutions and gave the company a “buy” rating in a research note on Thursday, February 28th. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $23.35.
Asante Solutions stock opened at $18.81 on Thursday. Asante Solutions has a fifty-two week low of $11.27 and a fifty-two week high of $25.38.
Asante Solutions (NASDAQ:PUMP) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.05. The firm had revenue of $546.20 million for the quarter, compared to analysts’ expectations of $519.39 million. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was up 41.8% compared to the same quarter last year.
In other Asante Solutions news, Director Spencer D. Armour III sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $23.96, for a total value of $539,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 67,500 shares of company stock worth $1,435,500.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Sterling Investment Advisors Ltd. bought a new stake in shares of Asante Solutions in the first quarter valued at approximately $45,000. Bremer Trust National Association bought a new stake in shares of Asante Solutions in the fourth quarter valued at approximately $64,000. Violich Capital Management Inc. bought a new stake in shares of Asante Solutions in the first quarter valued at approximately $203,000. Emerald Advisers LLC bought a new stake in shares of Asante Solutions in the first quarter valued at approximately $208,000. Finally, LS Investment Advisors LLC raised its position in shares of Asante Solutions by 450.0% in the fourth quarter. LS Investment Advisors LLC now owns 10,411 shares of the company’s stock valued at $128,000 after purchasing an additional 8,518 shares during the period.
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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