Hodges Capital Management Inc. lowered its position in Asante Solutions Inc (NASDAQ:PUMP) by 83.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,500 shares of the company’s stock after selling 113,500 shares during the quarter. Hodges Capital Management Inc.’s holdings in Asante Solutions were worth $507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its holdings in Asante Solutions by 607.8% in the third quarter. Teachers Advisors LLC now owns 879,103 shares of the company’s stock valued at $14,496,000 after acquiring an additional 754,908 shares during the last quarter. Norges Bank bought a new stake in Asante Solutions in the fourth quarter valued at approximately $6,528,000. Oregon Public Employees Retirement Fund bought a new stake in Asante Solutions in the fourth quarter valued at approximately $28,000. Marshall Wace North America L.P. bought a new stake in Asante Solutions in the third quarter valued at approximately $4,451,000. Finally, Bank of New York Mellon Corp boosted its holdings in Asante Solutions by 12.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,112,627 shares of the company’s stock valued at $13,708,000 after acquiring an additional 118,785 shares during the last quarter.
In related news, Director Spencer D. Armour III sold 22,500 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $19.24, for a total value of $432,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Spencer D. Armour III sold 67,500 shares of the stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $17.15, for a total value of $1,157,625.00. The disclosure for this sale can be found here.
Asante Solutions stock opened at $24.32 on Wednesday. Asante Solutions Inc has a 52-week low of $11.27 and a 52-week high of $24.50.
Asante Solutions (NASDAQ:PUMP) last posted its quarterly earnings results on Tuesday, February 26th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $425.41 million for the quarter, compared to the consensus estimate of $423.45 million. Asante Solutions’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 earnings per share.
PUMP has been the topic of several analyst reports. Royal Bank of Canada set a $24.00 target price on Asante Solutions and gave the company a “buy” rating in a report on Thursday, February 28th. Credit Suisse Group upped their target price on Asante Solutions from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, February 28th. Zacks Investment Research upgraded Asante Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Raymond James set a $24.00 target price on Asante Solutions and gave the company a “buy” rating in a report on Wednesday, January 23rd. Finally, Barclays upgraded Asante Solutions from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Tuesday, January 15th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Asante Solutions has an average rating of “Buy” and a consensus price target of $23.88.
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Asante Solutions 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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