Asante Solutions (NASDAQ:PUMP) Downgraded by Cowen

Asante Solutions (NASDAQ:PUMP) was downgraded by Cowen from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, The Fly reports.

Several other research firms also recently commented on PUMP. R. F. Lafferty reiterated a “hold” rating and issued a $18.00 price objective (down from $40.00) on shares of Asante Solutions in a report on Wednesday, September 4th. Raymond James set a $26.00 price target on shares of Asante Solutions and gave the company a “buy” rating in a research note on Tuesday, July 2nd. BidaskClub downgraded shares of Asante Solutions from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 27th. Royal Bank of Canada set a $15.00 price target on shares of Asante Solutions and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Johnson Rice set a $21.00 price target on shares of Asante Solutions and gave the company a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.14.

NASDAQ:PUMP opened at $10.60 on Thursday. Asante Solutions has a one year low of $8.98 and a one year high of $25.38. The firm’s fifty day moving average price is $12.87 and its two-hundred day moving average price is $18.77.

Asante Solutions (NASDAQ:PUMP) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.31). The business had revenue of $529.50 million for the quarter, compared to analysts’ expectations of $525.58 million. During the same quarter in the prior year, the company posted $0.45 EPS. Asante Solutions’s revenue was up 15.1% on a year-over-year basis.

In related news, Director Spencer D. Armour III sold 22,500 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $17.25, for a total transaction of $388,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

A number of institutional investors and hedge funds have recently bought and sold shares of PUMP. BNP Paribas Arbitrage SA lifted its position in Asante Solutions by 72.9% during the first quarter. BNP Paribas Arbitrage SA now owns 23,022 shares of the company’s stock worth $519,000 after purchasing an additional 9,705 shares during the period. Comerica Bank lifted its position in Asante Solutions by 2.8% during the first quarter. Comerica Bank now owns 73,716 shares of the company’s stock worth $1,733,000 after purchasing an additional 1,988 shares during the period. Everence Capital Management Inc. lifted its position in Asante Solutions by 57.1% during the first quarter. Everence Capital Management Inc. now owns 17,060 shares of the company’s stock worth $385,000 after purchasing an additional 6,200 shares during the period. New York State Teachers Retirement System lifted its position in Asante Solutions by 46.0% during the first quarter. New York State Teachers Retirement System now owns 59,267 shares of the company’s stock worth $1,336,000 after purchasing an additional 18,682 shares during the period. Finally, Mason Street Advisors LLC lifted its position in Asante Solutions by 4.3% during the first quarter. Mason Street Advisors LLC now owns 23,827 shares of the company’s stock worth $537,000 after purchasing an additional 989 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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