Barclays PLC downgraded shares of Asante Solutions Inc (NASDAQ:PUMP) from an overweight rating to an equal weight rating in a report released on Wednesday, July 12th, MarketBeat.com reports. They currently have $12.00 price objective on the stock, down from their prior price objective of $18.00.
Other analysts have also recently issued reports about the stock. Royal Bank Of Canada set a $21.00 price objective on shares of Asante Solutions and gave the stock a buy rating in a research note on Friday, June 16th. Evercore ISI reaffirmed a buy rating on shares of Asante Solutions in a research note on Sunday, May 14th. Instinet reaffirmed a buy rating and set a $19.00 price objective on shares of Asante Solutions in a research note on Wednesday, April 19th. Nomura assumed coverage on shares of Asante Solutions in a research note on Wednesday, April 19th. They set a buy rating and a $19.00 price objective on the stock. Finally, Tudor Pickering assumed coverage on shares of Asante Solutions in a research note on Monday, April 17th. They set a buy rating on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $18.70.
Shares of Asante Solutions (NASDAQ:PUMP) traded down 4.09% during trading on Wednesday, hitting $11.49. The stock had a trading volume of 1,296,701 shares. The stock’s 50-day moving average price is $13.25 and its 200 day moving average price is $13.38. Asante Solutions has a one year low of $11.47 and a one year high of $15.30. The stock’s market cap is $954.12 million.
Asante Solutions (NASDAQ:PUMP) last issued its quarterly earnings data on Wednesday, May 10th. The company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.38. The business had revenue of $171.90 million for the quarter, compared to analysts’ expectations of $169.68 million. The company’s revenue was up 95.6% compared to the same quarter last year. On average, equities analysts forecast that Asante Solutions will post $0.27 EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in Asante Solutions during the second quarter valued at approximately $103,000. Mitchell Group Inc. boosted its position in shares of Asante Solutions by 1.9% in the second quarter. Mitchell Group Inc. now owns 708,140 shares of the company’s stock worth $9,886,000 after buying an additional 13,260 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Asante Solutions during the first quarter worth about $322,000. Nationwide Fund Advisors acquired a new position in shares of Asante Solutions during the first quarter worth about $326,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Asante Solutions during the second quarter worth about $376,000.
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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