Asante Solutions Inc (NASDAQ:PUMP)’s share price rose 9% during mid-day trading on Thursday . The company traded as high as $24.15 and last traded at $24.05. Approximately 1,889,026 shares changed hands during mid-day trading, an increase of 46% from the average daily volume of 1,290,344 shares. The stock had previously closed at $22.07.
PUMP has been the subject of a number of research reports. Goldman Sachs Group initiated coverage on shares of Asante Solutions in a research note on Sunday, March 10th. They issued a “buy” rating and a $28.00 price target for the company. Bank of America reissued a “neutral” rating on shares of Asante Solutions in a research note on Tuesday, April 16th. Zacks Investment Research raised shares of Asante Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. B. Riley assumed coverage on shares of Asante Solutions in a report on Friday. They issued a “buy” rating and a $29.00 price objective on the stock. Finally, Royal Bank of Canada set a $24.00 price objective on shares of Asante Solutions and gave the stock a “buy” rating in a report 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 has an average rating of “Buy” and an average price target of $24.18.
Asante Solutions (NASDAQ:PUMP) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.05. The business had revenue of $546.20 million during the quarter, compared to analysts’ expectations of $519.39 million. Asante Solutions’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS.
Several large investors have recently bought and sold shares of PUMP. Norges Bank purchased a new stake in shares of Asante Solutions during the fourth quarter valued at approximately $6,528,000. Kennedy Capital Management Inc. purchased a new stake in shares of Asante Solutions during the first quarter valued at approximately $9,385,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Asante Solutions during the fourth quarter valued at approximately $28,000. Marshall Wace North America L.P. grew its holdings in shares of Asante Solutions by 634.1% during the first quarter. Marshall Wace North America L.P. now owns 181,460 shares of the company’s stock valued at $4,091,000 after buying an additional 156,740 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Asante Solutions by 12.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,112,627 shares of the company’s stock valued at $13,708,000 after buying an additional 118,785 shares during the last quarter.
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Asante Solutions Company Profile (NASDAQ:PUMP)
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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