Zacks Investment Research Lowers Asante Solutions (PUMP) to Hold

Asante Solutions (NASDAQ:PUMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

A number of other research firms also recently issued reports on PUMP. Stephens raised their price target on Asante Solutions to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, November 8th. Royal Bank of Canada set a $22.00 price target on Asante Solutions and gave the stock a “buy” rating in a research note on Thursday, November 8th. Citigroup assumed coverage on Asante Solutions in a research note on Monday, November 19th. They set a “buy” rating and a $25.00 price target on the stock. Raymond James raised their price target on Asante Solutions from $24.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 8th. Finally, Credit Suisse Group set a $20.00 price target on Asante Solutions and gave the stock a “buy” rating in a research note on Friday, November 9th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $22.00.



PUMP opened at $14.79 on Wednesday. Asante Solutions has a one year low of $11.27 and a one year high of $22.88.

Asante Solutions (NASDAQ:PUMP) last released its quarterly earnings results on Tuesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The company had revenue of $434.00 million during the quarter, compared to analysts’ expectations of $447.84 million. The firm’s revenue was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS.

In other Asante Solutions news, Director Spencer D. Armour III sold 22,500 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $19.17, for a total transaction of $431,325.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A number of institutional investors have recently bought and sold shares of PUMP. Teachers Advisors LLC lifted its position in Asante Solutions by 607.8% during the 3rd quarter. Teachers Advisors LLC now owns 879,103 shares of the company’s stock worth $14,496,000 after acquiring an additional 754,908 shares during the period. Bank of New York Mellon Corp lifted its position in Asante Solutions by 231.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 972,237 shares of the company’s stock worth $15,245,000 after acquiring an additional 679,172 shares during the period. Marshall Wace North America L.P. acquired a new stake in Asante Solutions during the 3rd quarter worth approximately $4,451,000. Luminus Management LLC acquired a new stake in Asante Solutions during the 3rd quarter worth approximately $3,899,000. Finally, United Services Automobile Association lifted its position in Asante Solutions by 76.0% during the 2nd quarter. United Services Automobile Association now owns 525,974 shares of the company’s stock worth $8,247,000 after acquiring an additional 227,096 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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