Zacks Investment Research downgraded shares of Asante Solutions (NASDAQ:PUMP) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

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. “

Several other equities analysts also recently commented on the company. Capital One Financial restated an overweight rating on shares of Asante Solutions in a research report on Wednesday, August 8th. Bank of America initiated coverage on Asante Solutions in a research report on Wednesday, October 17th. They issued a buy rating for the company. Cowen initiated coverage on Asante Solutions in a research report on Saturday, October 13th. They issued a hold rating and a $18.00 price objective for the company. Wolfe Research initiated coverage on Asante Solutions in a research report on Wednesday, October 10th. They issued an outperform rating for the company. Finally, SunTrust Banks set a $24.00 price objective on Asante Solutions and gave the company a buy rating in a research report on Thursday, August 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Asante Solutions presently has an average rating of Buy and an average price target of $22.40.

Shares of Asante Solutions stock traded up $0.09 during midday trading on Tuesday, hitting $18.82. 97,601 shares of the company were exchanged, compared to its average volume of 1,721,812. Asante Solutions has a 52 week low of $14.00 and a 52 week high of $22.88.

Asante Solutions (NASDAQ:PUMP) last posted its earnings results on Tuesday, November 6th. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). The company had revenue of $434.00 million during the quarter, compared to analyst estimates of $447.84 million. Asante Solutions’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PUMP. Riverhead Capital Management LLC acquired a new stake in shares of Asante Solutions during the second quarter worth $152,000. Everence Capital Management Inc. acquired a new stake in shares of Asante Solutions during the second quarter worth $170,000. Amalgamated Bank acquired a new stake in shares of Asante Solutions during the second quarter worth $179,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Asante Solutions during the third quarter worth $189,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Asante Solutions during the third quarter worth $199,000.

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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