Asante Solutions (PUMP) Stock Price Up 5.5%

Asante Solutions Inc (NASDAQ:PUMP) rose 5.5% on Thursday . The stock traded as high as $20.52 and last traded at $20.49. Approximately 2,356,800 shares were traded during trading, an increase of 27% from the average daily volume of 1,856,556 shares. The stock had previously closed at $19.43.

PUMP has been the topic of several analyst reports. Jefferies Group set a $21.00 price objective on Asante Solutions and gave the stock a “buy” rating in a research note on Tuesday, March 27th. Zacks Investment Research lowered Asante Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Piper Jaffray set a $19.00 target price on Asante Solutions and gave the company a “buy” rating in a research report on Wednesday, March 28th. Cowen assumed coverage on Asante Solutions in a research report on Wednesday, February 7th. They set a “market perform” rating and a $17.00 target price for the company. Finally, Royal Bank of Canada set a $20.00 target price on Asante Solutions and gave the company a “buy” rating in a research report on Wednesday, March 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Asante Solutions currently has a consensus rating of “Buy” and a consensus price target of $21.80.

Asante Solutions (NASDAQ:PUMP) last announced its quarterly earnings results on Tuesday, May 8th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The firm had revenue of $385.20 million during the quarter, compared to analysts’ expectations of $375.75 million. The firm’s revenue for the quarter was up 124.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.43) EPS.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Exane Derivatives purchased a new stake in shares of Asante Solutions in the fourth quarter valued at approximately $108,000. GW&K Investment Management LLC purchased a new stake in shares of Asante Solutions in the first quarter valued at approximately $224,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Asante Solutions in the fourth quarter valued at approximately $329,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Asante Solutions in the fourth quarter valued at approximately $378,000. Finally, Tiverton Asset Management LLC purchased a new stake in shares of Asante Solutions in the first quarter valued at approximately $413,000.

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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