Shares of Asante Solutions Inc (NASDAQ:PUMP) rose 7.1% during trading on Wednesday . The stock traded as high as $14.83 and last traded at $14.54. Approximately 1,923,449 shares changed hands during mid-day trading, an increase of 32% from the average daily volume of 1,459,708 shares. The stock had previously closed at $13.57.
PUMP has been the subject of several research analyst reports. Citigroup initiated coverage on Asante Solutions in a report on Monday, November 19th. They issued a “buy” rating and a $25.00 price objective for the company. Bank of America initiated coverage on Asante Solutions in a report on Wednesday, October 17th. They issued a “buy” rating for the company. Cowen assumed coverage on Asante Solutions in a report on Saturday, October 13th. They issued a “hold” rating and a $18.00 price objective for the company. Wolfe Research assumed coverage on Asante Solutions in a research report on Wednesday, October 10th. They set an “outperform” rating on the stock. Finally, Royal Bank of Canada set a $22.00 target price on Asante Solutions and gave the company a “buy” rating in a research report on Thursday, November 8th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Asante Solutions presently has a consensus rating of “Buy” and a consensus price target of $22.00.
Asante Solutions (NASDAQ:PUMP) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). The firm had revenue of $434.00 million during the quarter, compared to analyst estimates of $447.84 million. During the same quarter last year, the firm earned $0.25 EPS. The firm’s quarterly revenue was up 53.5% on a year-over-year basis.
Several large investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. purchased a new stake in shares of Asante Solutions in the third quarter worth about $4,451,000. Teachers Advisors LLC increased its stake in Asante Solutions by 607.8% during the third quarter. Teachers Advisors LLC now owns 879,103 shares of the company’s stock worth $14,496,000 after acquiring an additional 754,908 shares during the last quarter. Luminus Management LLC bought a new stake in Asante Solutions during the third quarter worth approximately $3,899,000. MetLife Investment Advisors LLC increased its stake in Asante Solutions by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 51,882 shares of the company’s stock worth $856,000 after acquiring an additional 18,443 shares during the last quarter. Finally, Capital Fund Management S.A. increased its stake in Asante Solutions by 180.6% during the third quarter. Capital Fund Management S.A. now owns 285,450 shares of the company’s stock worth $4,707,000 after acquiring an additional 183,714 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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