Hodges Capital Management Inc. cut its holdings in shares of Asante Solutions Inc (NASDAQ:PUMP) by 83.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Calamos Advisors LLC purchased a new stake in Asante Solutions in the 1st quarter worth about $634,000. Geode Capital Management LLC increased its holdings in Asante Solutions by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 744,009 shares of the company’s stock worth $9,166,000 after acquiring an additional 68,290 shares during the last quarter. Norges Bank purchased a new stake in Asante Solutions in the 4th quarter worth about $6,528,000. Amalgamated Bank purchased a new stake in Asante Solutions in the 4th quarter worth about $142,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Asante Solutions in the 4th quarter worth about $262,000.
Several equities research analysts recently weighed in on the company. Bank of America reissued a “neutral” rating on shares of Asante Solutions in a report on Tuesday. Raymond James lowered Asante Solutions from a “strong-buy” rating to an “outperform” rating and set a $25.00 price objective for the company. in a report on Thursday, April 4th. They noted that the move was a valuation call. Wells Fargo & Co assumed coverage on Asante Solutions in a report on Friday, March 29th. They issued an “outperform” rating for the company. Goldman Sachs Group assumed coverage on Asante Solutions in a report on Sunday, March 10th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Zacks Investment Research raised Asante Solutions from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $23.88.
Asante Solutions (NASDAQ:PUMP) last issued its earnings results on Tuesday, February 26th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The company had revenue of $425.41 million during the quarter, compared to the consensus estimate of $423.45 million. During the same quarter in the prior year, the business earned $0.12 EPS. The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year.
In other news, Director Spencer D. Armour III sold 22,500 shares of Asante Solutions stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $19.24, for a total transaction of $432,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Spencer D. Armour III sold 67,500 shares of Asante Solutions stock in a transaction dated Wednesday, February 13th. The shares were 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.
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.
Further Reading: Earnings Per Share
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