Asante Solutions (NASDAQ:PUMP) Rating Lowered to Sell at BidaskClub

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BidaskClub cut shares of Asante Solutions (NASDAQ:PUMP) from a hold rating to a sell rating in a research note published on Friday morning, BidAskClub reports.

PUMP has been the topic of a number of other research reports. Royal Bank of Canada set a $24.00 target price on Asante Solutions and gave the company a buy rating in a research note on Thursday, February 28th. Bank of America reaffirmed a neutral rating on shares of Asante Solutions in a research note on Tuesday, April 16th. 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 research note on Thursday, February 28th. Cowen set a $28.00 target price on Asante Solutions and gave the company a buy rating in a research note on Thursday, February 28th. Finally, Goldman Sachs Group initiated coverage on Asante Solutions in a research note on Sunday, March 10th. They set a buy rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of Buy and an average price target of $23.13.

PUMP opened at $18.74 on Friday. The company’s 50 day simple moving average is $20.54. Asante Solutions has a one year low of $11.27 and a one year high of $25.38.

Asante Solutions (NASDAQ:PUMP) last released its earnings results on Tuesday, May 7th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. The business had revenue of $546.20 million for the quarter, compared to the consensus estimate of $519.39 million. The company’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS.

In related news, Director Spencer D. Armour III sold 22,500 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $20.60, for a total value of $463,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 67,500 shares of company stock worth $1,428,975.

A number of large investors have recently made changes to their positions in PUMP. Norges Bank bought a new position in Asante Solutions in the fourth quarter worth approximately $6,528,000. Kennedy Capital Management Inc. bought a new position in Asante Solutions in the first quarter worth approximately $9,385,000. Oregon Public Employees Retirement Fund bought a new position in Asante Solutions in the fourth quarter worth approximately $28,000. Marshall Wace North America L.P. lifted its holdings in Asante Solutions by 634.1% during the first quarter. Marshall Wace North America L.P. now owns 181,460 shares of the company’s stock worth $4,091,000 after buying an additional 156,740 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Asante Solutions by 12.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,112,627 shares of the company’s stock worth $13,708,000 after buying an additional 118,785 shares during the period.

Asante Solutions Company 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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Analyst Recommendations for Asante Solutions (NASDAQ:PUMP)

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