Asante Solutions Inc (PUMP) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Asante Solutions Inc (NASDAQ:PUMP) have been given an average rating of “Buy” by the fourteen research firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $21.60.

PUMP has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Asante Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Jefferies Financial Group set a $21.00 target price on Asante Solutions and gave the stock a “buy” rating in a research report on Tuesday, March 27th. Piper Jaffray Companies set a $19.00 target price on Asante Solutions and gave the stock a “buy” rating in a research report on Wednesday, March 28th. 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 Wednesday, March 28th. Finally, R. F. Lafferty boosted their target price on Asante Solutions from $24.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, June 7th.

PUMP traded down $0.26 during trading on Thursday, reaching $14.52. 86,864 shares of the stock were exchanged, compared to its average volume of 1,977,176. Asante Solutions has a 1 year low of $10.84 and a 1 year high of $22.88.

Asante Solutions (NASDAQ:PUMP) last posted its earnings results on Tuesday, May 8th. The company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.04. The firm had revenue of $385.20 million for the quarter, compared to analysts’ expectations of $375.75 million. The firm’s revenue for the quarter was up 124.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.43) earnings per share.

In related news, Director Pryor Blackwell purchased 13,404 shares of the business’s stock in a transaction dated Thursday, June 7th. The stock was bought at an average cost of $15.36 per share, with a total value of $205,885.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hancock Holding Co. raised its holdings in shares of Asante Solutions by 1.2% in the first quarter. Hancock Holding Co. now owns 520,980 shares of the company’s stock worth $8,279,000 after acquiring an additional 6,005 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Asante Solutions by 22.3% in the first quarter. New York State Common Retirement Fund now owns 62,000 shares of the company’s stock worth $985,000 after acquiring an additional 11,300 shares during the last quarter. GW&K Investment Management LLC acquired a new position in shares of Asante Solutions in the first quarter worth $224,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Asante Solutions in the fourth quarter worth $378,000. Finally, American International Group Inc. increased its stake in Asante Solutions by 126.9% in the fourth quarter. American International Group Inc. now owns 38,425 shares of the company’s stock valued at $775,000 after purchasing an additional 21,491 shares during the last quarter.

Asante Solutions Company Profile

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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