Asante Solutions Inc (NASDAQ:PUMP) – Analysts at Jefferies Group boosted their FY2017 EPS estimates for shares of Asante Solutions in a research report issued on Thursday. Jefferies Group analyst B. Handler now forecasts that the company will earn $0.48 per share for the year, up from their prior estimate of $0.47. Jefferies Group has a “Buy” rating and a $18.00 price target on the stock. Jefferies Group also issued estimates for Asante Solutions’ Q4 2017 earnings at $0.41 EPS, Q1 2018 earnings at $0.51 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.65 EPS and Q4 2018 earnings at $0.64 EPS.
PUMP has been the subject of a number of other reports. Royal Bank of Canada set a $24.00 target price on shares of Asante Solutions and gave the stock a “buy” rating in a research note on Thursday, December 21st. SunTrust Banks started coverage on shares of Asante Solutions in a research note on Wednesday, December 20th. They set a “buy” rating and a $27.00 price objective for the company. Zacks Investment Research downgraded shares of Asante Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Piper Jaffray Companies restated a “buy” rating and set a $14.00 price objective on shares of Asante Solutions in a research note on Tuesday, September 19th. Finally, BidaskClub downgraded shares of Asante Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $20.85.
Institutional investors have recently added to or reduced their stakes in the business. Balyasny Asset Management LLC bought a new position in Asante Solutions in the 2nd quarter valued at about $4,841,000. Bank of New York Mellon Corp bought a new position in Asante Solutions in the 2nd quarter valued at about $1,383,000. Nationwide Fund Advisors raised its holdings 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 acquiring an additional 69,082 shares during the period. Fred Alger Management Inc. bought a new position in Asante Solutions in the 2nd quarter valued at about $3,497,000. Finally, California State Teachers Retirement System bought a new position in Asante Solutions in the 2nd quarter valued at about $625,000.
In related news, major shareholder Energy Capital Partners Ii, Ll sold 13,800,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $15.07, for a total value of $207,966,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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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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