Asante Solutions Inc (NASDAQ:PUMP) – Capital One Financial cut their Q1 2019 EPS estimates for Asante Solutions in a research report issued on Wednesday, November 7th. Capital One Financial analyst L. Lemoine now anticipates that the company will post earnings of $0.43 per share for the quarter, down from their prior estimate of $0.53. Capital One Financial has a “Overweight” rating on the stock. Capital One Financial also issued estimates for Asante Solutions’ Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.59 EPS and FY2020 earnings at $2.35 EPS.
Other equities analysts have also issued research reports about the company. Jefferies Financial Group reissued a “buy” rating and set a $20.00 price target on shares of Asante Solutions in a report on Friday, August 10th. Credit Suisse Group set a $20.00 price target on Asante Solutions and gave the stock a “buy” rating in a report on Friday. Bank of America began coverage on Asante Solutions in a report on Wednesday, October 17th. They set a “buy” rating on the stock. Cowen began coverage on Asante Solutions in a report on Saturday, October 13th. They set a “hold” rating and a $18.00 price target on the stock. Finally, Stifel Nicolaus began coverage on Asante Solutions in a report on Monday, September 10th. They set a “buy” rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.23.
Asante Solutions (NASDAQ:PUMP) last posted its earnings results on Tuesday, November 6th. The company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). The firm had revenue of $434.00 million during the quarter, compared to analyst estimates of $447.84 million. During the same quarter in the prior year, the business earned $0.25 EPS. The business’s quarterly revenue was up 53.5% on a year-over-year basis.
In related news, Director Spencer D. Armour III sold 22,500 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $17.14, for a total transaction of $385,650.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Institutional investors and hedge funds have recently made changes to their positions in the business. Argent Capital Management LLC boosted its holdings in Asante Solutions by 1.9% in the 2nd quarter. Argent Capital Management LLC now owns 175,680 shares of the company’s stock valued at $2,755,000 after purchasing an additional 3,300 shares in the last quarter. Flinton Capital Management LLC boosted its holdings in Asante Solutions by 423.7% in the 2nd quarter. Flinton Capital Management LLC now owns 14,496 shares of the company’s stock valued at $227,000 after purchasing an additional 11,728 shares in the last quarter. Putnam Investments LLC purchased a new stake in Asante Solutions in the 2nd quarter valued at approximately $506,000. First Hawaiian Bank purchased a new stake in Asante Solutions in the 3rd quarter valued at approximately $268,000. Finally, Mutual of America Capital Management LLC boosted its holdings in Asante Solutions by 119.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 217,577 shares of the company’s stock valued at $3,412,000 after purchasing an additional 118,618 shares in the last quarter.
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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