Asante Solutions Inc (NASDAQ:PUMP) – Analysts at Jefferies Group lifted their FY2018 earnings per share estimates for Asante Solutions in a research report issued to clients and investors on Thursday. Jefferies Group analyst B. Handler now forecasts that the company will post earnings of $2.40 per share for the year, up from their prior estimate of $2.10. Jefferies Group currently has a “Buy” rating and a $18.00 target price on the stock. Jefferies Group also issued estimates for Asante Solutions’ FY2019 earnings at $2.30 EPS and FY2020 earnings at $2.70 EPS.
Several other equities analysts have also recently weighed in on PUMP. Royal Bank of Canada set a $20.00 target price on Asante Solutions and gave the company a “buy” rating in a research note on Sunday, October 22nd. Zacks Investment Research cut Asante Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Piper Jaffray Companies reiterated a “buy” rating and set a $14.00 price target on shares of Asante Solutions in a report on Tuesday, September 19th. BidaskClub upgraded Asante Solutions from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, SunTrust Banks initiated coverage on Asante Solutions in a report on Wednesday, December 20th. They set a “buy” rating and a $27.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $21.07.
Asante Solutions (NASDAQ:PUMP) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $282.70 million during the quarter, compared to the consensus estimate of $261.69 million. The company’s revenue was up 32.4% compared to the same quarter last year.
Several hedge funds have recently made changes to their positions in PUMP. New York State Common Retirement Fund bought a new stake in shares of Asante Solutions during the second quarter worth $376,000. California State Teachers Retirement System bought a new stake in shares of Asante Solutions during the second quarter worth $625,000. Teachers Advisors LLC bought a new stake in shares of Asante Solutions during the second quarter worth $637,000. TIAA CREF Investment Management LLC bought a new stake in shares of Asante Solutions during the second quarter worth $937,000. Finally, Nationwide Fund Advisors grew its holdings in shares of Asante Solutions by 273.1% during the second quarter. Nationwide Fund Advisors now owns 94,382 shares of the company’s stock worth $1,318,000 after purchasing an additional 69,082 shares during the last quarter.
In other news, major shareholder Energy Capital Partners Ii, Ll sold 13,800,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $15.07, for a total transaction of $207,966,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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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