Stock Traders Buy High Volume of Asante Solutions Put Options (PUMP)
Asante Solutions Inc (NASDAQ:PUMP) saw unusually large options trading on Tuesday. Stock investors purchased 676 put options on the stock. This is an increase of approximately 1,008% compared to the typical daily volume of 61 put options.
Asante Solutions (NASDAQ:PUMP) last issued its earnings results on Wednesday, November 1st. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The company had revenue of $282.70 million during the quarter, compared to analysts’ expectations of $261.69 million. The firm’s revenue was up 32.4% compared to the same quarter last year.
Several brokerages have recently weighed in on PUMP. Barclays reiterated a “hold” rating and set a $18.00 target price on shares of Asante Solutions in a research note on Friday, November 10th. Credit Suisse Group increased their target price on shares of Asante Solutions from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. BidaskClub upgraded shares of Asante Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of Asante Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Jefferies Group started coverage on shares of Asante Solutions in a research note on Thursday, October 5th. They set a “buy” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $19.67.
A number of institutional investors have recently modified their holdings of PUMP. Strs Ohio purchased a new position in Asante Solutions in the second quarter valued at about $103,000. Bank of New York Mellon Corp purchased a new position in Asante Solutions in the second quarter valued at about $1,383,000. Sentry Investments Corp. purchased a new position in Asante Solutions in the second quarter valued at about $1,866,000. Mitchell Group Inc. increased its stake in shares of Asante Solutions by 1.9% during the 2nd quarter. Mitchell Group Inc. now owns 708,140 shares of the company’s stock worth $9,886,000 after purchasing an additional 13,260 shares in the last quarter. Finally, Teachers Advisors LLC purchased a new position in shares of Asante Solutions during the 2nd quarter worth approximately $637,000.
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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.
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