Asante Solutions Inc (PUMP) Earns “Hold” Rating from Barclays PLC

Barclays PLC reissued their hold rating on shares of Asante Solutions Inc (NASDAQ:PUMP) in a report issued on Friday morning. They currently have a $18.00 target price on the stock.

Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Asante Solutions from a hold rating to a buy rating and set a $19.00 price target on the stock in a research note on Friday. Credit Suisse Group upped their target price on Asante Solutions from $17.00 to $20.00 and gave the stock an outperform rating in a research report on Friday, November 3rd. BidaskClub lowered Asante Solutions from a buy rating to a hold rating in a research report on Thursday, October 26th. Royal Bank Of Canada set a $20.00 target price on Asante Solutions and gave the stock a buy rating in a research report on Sunday, October 22nd. Finally, Jefferies Group LLC started coverage on Asante Solutions in a research report on Thursday, October 5th. They set a buy rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $19.67.

Asante Solutions (NASDAQ:PUMP) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The business had revenue of $282.70 million during the quarter, compared to analyst estimates of $261.69 million. Asante Solutions’s revenue was up 32.4% compared to the same quarter last year.

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In related news, major shareholder Energy Capital Partners Ii, Ll sold 13,800,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $15.07, for a total transaction of $207,966,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional investors have recently made changes to their positions in the stock. Viking Fund Management LLC bought a new stake in Asante Solutions during the second quarter worth $11,028,000. Mitchell Group Inc. grew its stake in Asante Solutions by 1.9% in the 2nd quarter. Mitchell Group Inc. now owns 708,140 shares of the company’s stock valued at $9,886,000 after purchasing an additional 13,260 shares during the period. Balyasny Asset Management LLC bought a new position in Asante Solutions in the 2nd quarter valued at $4,841,000. Bank of New York Mellon Corp bought a new position in Asante Solutions in the 2nd quarter valued at $1,383,000. Finally, Nationwide Fund Advisors grew its stake in Asante Solutions by 273.1% in the 2nd quarter. Nationwide Fund Advisors now owns 94,382 shares of the company’s stock valued at $1,318,000 after purchasing an additional 69,082 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.

Analyst Recommendations for Asante Solutions (NASDAQ:PUMP)

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