Asante Solutions (NASDAQ:PUMP) Cut to “Sell” at BidaskClub

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

A number of other equities analysts also recently weighed in on the company. Stifel Nicolaus downgraded Asante Solutions to a buy rating and set a $9.00 price target on the stock. in a research report on Thursday, May 23rd. Citigroup reaffirmed a buy rating and issued a $25.00 target price on shares of Propetro in a research report on Tuesday, July 2nd. B. Riley set a $2.00 target price on Ascena Retail Group and gave the company a hold rating in a research report on Friday, May 17th. Wells Fargo & Co initiated coverage on Propetro in a research report on Friday, March 29th. They issued an outperform rating on the stock. Finally, Zacks Investment Research downgraded HEXO from a hold rating to a sell rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $23.20.

Shares of NASDAQ PUMP opened at $17.23 on Wednesday. The stock’s 50 day simple moving average is $19.18. Asante Solutions has a twelve month low of $11.27 and a twelve month high of $25.38.

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

In related news, Director Spencer D. Armour III sold 22,500 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $20.60, for a total value of $463,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 67,500 shares of company stock valued at $1,278,000.

Several institutional investors have recently added to or reduced their stakes in PUMP. Bank of New York Mellon Corp boosted its stake 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. Geode Capital Management LLC grew its position in Asante Solutions by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 744,009 shares of the company’s stock valued at $9,166,000 after buying an additional 68,290 shares during the last quarter. Norges Bank purchased a new position in Asante Solutions in the 4th quarter valued at $6,528,000. Kennedy Capital Management Inc. acquired a new stake in Asante Solutions in the first quarter valued at $9,385,000. Finally, Marshall Wace North America L.P. lifted its holdings in Asante Solutions by 634.1% in the first quarter. Marshall Wace North America L.P. now owns 181,460 shares of the company’s stock valued at $4,091,000 after acquiring an additional 156,740 shares during the period.

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.

See Also: Is it better to buy a fund with a higher or lower NAV?

Analyst Recommendations for Asante Solutions (NASDAQ:PUMP)

Receive News & Ratings for Asante Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asante Solutions and related companies with MarketBeat.com's FREE daily email newsletter.