SunTrust Banks started coverage on shares of Asante Solutions (NASDAQ:PUMP) in a research note published on Wednesday morning. The firm issued a buy rating and a $27.00 price objective on the stock.

PUMP has been the topic of several other research reports. Piper Jaffray Companies restated a buy rating and issued a $14.00 price target on shares of Asante Solutions in a research report on Tuesday, September 19th. Zacks Investment Research lowered shares of Asante Solutions from a hold rating to a sell rating in a research note on Wednesday, October 11th. Jefferies Group initiated coverage on shares of Asante Solutions in a research note on Thursday, October 5th. They issued a buy rating and a $18.00 price objective for the company. Royal Bank of Canada set a $20.00 price objective on shares of Asante Solutions and gave the stock a buy rating in a research note on Sunday, October 22nd. Finally, BidaskClub lowered shares of Asante Solutions from a buy rating to a hold rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Asante Solutions has an average rating of Buy and an average price target of $20.23.

Asante Solutions (NASDAQ:PUMP) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The company had revenue of $282.70 million for the quarter, compared to analyst estimates of $261.69 million. The company’s revenue was up 32.4% compared to the same quarter last year.

In related news, major shareholder Energy Capital Partners Ii, Ll sold 13,800,000 shares of Asante Solutions stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $15.07, for a total value of $207,966,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge funds have recently added to or reduced their stakes in the stock. Mitchell Group Inc. raised its holdings in Asante Solutions by 1.9% in the 2nd quarter. Mitchell Group Inc. now owns 708,140 shares of the company’s stock worth $9,886,000 after acquiring an additional 13,260 shares during the period. Balyasny Asset Management LLC bought a new position in Asante Solutions in the 2nd quarter worth $4,841,000. Bank of New York Mellon Corp bought a new position in Asante Solutions in the 2nd quarter worth $1,383,000. Nationwide Fund Advisors raised its holdings in Asante Solutions by 273.1% in the 2nd quarter. Nationwide Fund Advisors now owns 94,382 shares of the company’s stock worth $1,318,000 after acquiring an additional 69,082 shares during the period. Finally, Fred Alger Management Inc. bought a new position in Asante Solutions in the 2nd quarter worth $3,497,000.

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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.

Analyst Recommendations for Asante Solutions (NASDAQ:PUMP)

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