Asante Solutions (PUMP) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Asante Solutions (NASDAQ:PUMP) from a hold rating to a buy rating in a report issued on Friday. Zacks Investment Research currently has $20.00 price objective on the stock.
According to Zacks, “ProPetro Holding Corp. provides oilfield services. It offers hydraulic fracturing and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. ProPetro Holding Corp. is headquartered in Midland, Texas. “
Several other research firms have also weighed in on PUMP. Stephens lifted their target price on Asante Solutions to $25.00 and gave the stock an overweight rating in a report on Thursday, November 8th. Royal Bank of Canada set a $22.00 target price on Asante Solutions and gave the stock a buy rating in a report on Thursday, November 8th. Raymond James lifted their target price on Asante Solutions from $24.00 to $25.00 and gave the stock a strong-buy rating in a report on Thursday, November 8th. Credit Suisse Group set a $20.00 target price on Asante Solutions and gave the stock a buy rating in a report on Friday, November 9th. Finally, Stifel Nicolaus set a $23.00 target price on Asante Solutions and gave the stock a buy rating in a report on Wednesday, October 10th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $22.40.
Asante Solutions (NASDAQ:PUMP) last posted its earnings results on Tuesday, November 6th. The company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). The business had revenue of $434.00 million during the quarter, compared to analysts’ expectations of $447.84 million. The company’s quarterly revenue was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 EPS.
In other news, Director Spencer D. Armour III sold 22,500 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $17.14, for a total value of $385,650.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Several institutional investors have recently modified their holdings of PUMP. Riverhead Capital Management LLC bought a new stake in shares of Asante Solutions in the second quarter valued at about $152,000. Everence Capital Management Inc. bought a new stake in shares of Asante Solutions in the second quarter valued at about $170,000. Amalgamated Bank bought a new stake in shares of Asante Solutions in the second quarter valued at about $179,000. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Asante Solutions in the third quarter valued at about $189,000. Finally, Quantbot Technologies LP bought a new stake in shares of Asante Solutions in the third quarter valued at about $199,000.
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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