Asante Solutions (PUMP) Downgraded by Stifel Nicolaus

Asante Solutions (NASDAQ:PUMP) was downgraded by investment analysts at Stifel Nicolaus to a “buy” rating in a report released on Thursday. They presently have a $9.00 price target on the stock. Stifel Nicolaus’ target price suggests a potential downside of 56.14% from the company’s current price.

PUMP has been the topic of several other reports. B. Riley initiated coverage on shares of Asante Solutions in a research note on Friday, May 17th. They set a “buy” rating and a $29.00 price target on the stock. Bank of America reissued a “neutral” rating on shares of Asante Solutions in a research note on Tuesday, April 16th. BidaskClub raised shares of Asante Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Zacks Investment Research cut shares of Asante Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Wells Fargo & Co initiated coverage on shares of Asante Solutions in a research note on Friday, March 29th. They set an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $23.35.

Shares of Asante Solutions stock opened at $20.52 on Thursday. Asante Solutions has a 1-year low of $11.27 and a 1-year high of $25.38.

Asante Solutions (NASDAQ:PUMP) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.05. The firm had revenue of $546.20 million for the quarter, compared to the consensus estimate of $519.39 million. Asante Solutions’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 earnings per share.

In other Asante Solutions news, Director Spencer D. Armour III sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $23.96, for a total value of $539,100.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional investors and hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund acquired a new stake in Asante Solutions in the fourth quarter worth $28,000. Sterling Investment Advisors Ltd. acquired a new stake in shares of Asante Solutions during the first quarter worth $45,000. Bremer Trust National Association acquired a new stake in shares of Asante Solutions during the fourth quarter worth $64,000. LS Investment Advisors LLC raised its holdings in shares of Asante Solutions by 450.0% during the fourth quarter. LS Investment Advisors LLC now owns 10,411 shares of the company’s stock worth $128,000 after acquiring an additional 8,518 shares during the period. Finally, Amalgamated Bank acquired a new stake in shares of Asante Solutions during the fourth quarter worth $142,000.

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.

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Analyst Recommendations for Asante Solutions (NASDAQ:PUMP)

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