Asante Solutions (PUMP) Stock Price Down 5.5%

Asante Solutions Inc (NASDAQ:PUMP) dropped 5.5% on Wednesday . The stock traded as low as $21.19 and last traded at $21.56. Approximately 1,032,909 shares changed hands during trading, a decline of 19% from the average daily volume of 1,279,433 shares. The stock had previously closed at $22.81.

PUMP has been the topic of several research analyst reports. Royal Bank of Canada set a $24.00 target price on Asante Solutions and gave the stock a “buy” rating in a research report on Thursday, February 28th. Bank of America restated a “neutral” rating on shares of Asante Solutions in a research note on Tuesday, April 16th. Zacks Investment Research upgraded Asante Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. Raymond James set a $24.00 target price on Asante Solutions and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Finally, Credit Suisse Group boosted their target price on Asante Solutions from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, February 28th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Asante Solutions presently has an average rating of “Buy” and a consensus target price of $24.18.

Asante Solutions (NASDAQ:PUMP) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.05. The company had revenue of $546.20 million during the quarter, compared to analyst estimates of $519.39 million. During the same period last year, the firm earned $0.42 earnings per share. The business’s revenue was up 41.8% compared to the same quarter last year.

In other Asante Solutions news, Director Spencer D. Armour III sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $23.96, for a total transaction of $539,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Several hedge funds and other institutional investors have recently modified their holdings of the company. LS Investment Advisors LLC boosted its position in shares of Asante Solutions by 4.2% in the first quarter. LS Investment Advisors LLC now owns 10,846 shares of the company’s stock worth $244,000 after buying an additional 435 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Asante Solutions by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 28,481 shares of the company’s stock worth $642,000 after buying an additional 514 shares during the period. Mason Street Advisors LLC boosted its position in shares of Asante Solutions by 4.3% in the first quarter. Mason Street Advisors LLC now owns 23,827 shares of the company’s stock worth $537,000 after buying an additional 989 shares during the period. Arizona State Retirement System boosted its position in shares of Asante Solutions by 1.1% in the first quarter. Arizona State Retirement System now owns 114,450 shares of the company’s stock worth $2,580,000 after buying an additional 1,201 shares during the period. Finally, Comerica Bank boosted its position in shares of Asante Solutions by 2.8% in the first quarter. Comerica Bank now owns 73,716 shares of the company’s stock worth $1,733,000 after buying an additional 1,988 shares during the period.

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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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