Asante Solutions (NASDAQ:PUMP) Downgraded to Neutral at Goldman Sachs Group

Asante Solutions (NASDAQ:PUMP) was downgraded by research analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports. They presently have a $10.00 price target on the stock, down from their prior price target of $15.00. Goldman Sachs Group’s target price would suggest a potential upside of 36.24% from the stock’s current price.

PUMP has been the subject of several other research reports. Bank of America decreased their target price on Asante Solutions from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, August 28th. Cowen downgraded Asante Solutions from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $17.00 to $11.00 in a research report on Thursday, September 12th. Raymond James decreased their target price on Asante Solutions from $20.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Scotiabank set a $14.00 target price on Asante Solutions and gave the stock a “hold” rating in a research report on Monday, August 26th. Finally, B. Riley decreased their target price on Asante Solutions from $29.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $15.31.

PUMP stock opened at $7.34 on Thursday. The stock has a 50-day moving average price of $8.51 and a two-hundred day moving average price of $14.84. Asante Solutions has a 12-month low of $7.11 and a 12-month high of $25.38.

Asante Solutions (NASDAQ:PUMP) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.15). The business had revenue of $541.85 million during the quarter, compared to analysts’ expectations of $509.17 million. During the same period in the previous year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year.

Large investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. lifted its stake in shares of Asante Solutions by 297.1% in the second quarter. UBS Asset Management Americas Inc. now owns 213,396 shares of the company’s stock worth $4,417,000 after acquiring an additional 159,654 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Asante Solutions by 25.2% in the second quarter. Meeder Asset Management Inc. now owns 21,269 shares of the company’s stock worth $440,000 after acquiring an additional 4,284 shares in the last quarter. Putnam Investments LLC lifted its stake in shares of Asante Solutions by 26.2% in the second quarter. Putnam Investments LLC now owns 173,100 shares of the company’s stock worth $3,583,000 after acquiring an additional 35,900 shares in the last quarter. Dupont Capital Management Corp lifted its stake in shares of Asante Solutions by 63.6% in the third quarter. Dupont Capital Management Corp now owns 33,121 shares of the company’s stock worth $301,000 after acquiring an additional 12,874 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Asante Solutions by 12.0% in the second quarter. Public Employees Retirement System of Ohio now owns 102,740 shares of the company’s stock worth $2,127,000 after acquiring an additional 11,014 shares in the last quarter.

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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