Asante Solutions Inc (PUMP) Receives Average Rating of “Buy” from Brokerages
Shares of Asante Solutions Inc (NASDAQ:PUMP) have been given a consensus recommendation of “Buy” by the sixteen research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.70.
Several brokerages recently commented on PUMP. Credit Suisse Group set a $15.00 price target on Asante Solutions and gave the company a “buy” rating in a research report on Friday, August 11th. Barclays PLC reissued a “hold” rating and set a $18.00 price target on shares of Asante Solutions in a research report on Friday, November 10th. BidaskClub raised Asante Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Zacks Investment Research raised Asante Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Asante Solutions in a research report on Monday, August 14th.
Asante Solutions (NASDAQ:PUMP) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $282.70 million for 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.
Several hedge funds have recently bought and sold shares of the company. Viking Fund Management LLC raised its position in shares of Asante Solutions by 29.1% in the 3rd quarter. Viking Fund Management LLC now owns 1,020,000 shares of the company’s stock worth $14,637,000 after acquiring an additional 230,000 shares in the last quarter. Mitchell Group Inc. increased its position 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 buying an additional 13,260 shares in the last quarter. State Street Corp bought a new stake in Asante Solutions in the 2nd quarter valued at about $5,033,000. Balyasny Asset Management LLC bought a new stake in Asante Solutions during the 2nd quarter worth approximately $4,841,000. Finally, Fred Alger Management Inc. bought a new stake in Asante Solutions during the 2nd quarter worth approximately $3,497,000.
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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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