Vanguard Group Inc. Sells 384,612 Shares of Pacira BioSciences, Inc. $PCRX

Vanguard Group Inc. trimmed its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,812,955 shares of the company’s stock after selling 384,612 shares during the quarter. Vanguard Group Inc. owned about 11.19% of Pacira BioSciences worth $124,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of PCRX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Pacira BioSciences by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after acquiring an additional 1,165 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after acquiring an additional 367,869 shares in the last quarter. Strs Ohio bought a new position in shares of Pacira BioSciences in the 1st quarter worth about $75,000. Marshall Wace LLP bought a new position in shares of Pacira BioSciences in the 2nd quarter worth about $4,550,000. Finally, Sei Investments Co. increased its stake in shares of Pacira BioSciences by 35.3% in the 2nd quarter. Sei Investments Co. now owns 25,357 shares of the company’s stock worth $606,000 after acquiring an additional 6,609 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Pacira BioSciences news, CFO Shawn Cross sold 12,941 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total transaction of $325,595.56. Following the sale, the chief financial officer owned 105,341 shares in the company, valued at approximately $2,650,379.56. This trade represents a 10.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,261 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total transaction of $74,416.02. Following the sale, the insider owned 223,640 shares in the company, valued at approximately $5,103,464.80. The trade was a 1.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,261 shares of company stock worth $702,610. 6.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on PCRX shares. Royal Bank Of Canada raised their price objective on shares of Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Barclays reduced their price objective on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, March 26th. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Needham & Company LLC raised their price target on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Pacira BioSciences presently has a consensus rating of “Hold” and a consensus target price of $29.40.

Pacira BioSciences Stock Performance

PCRX opened at $22.84 on Wednesday. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. The company has a market cap of $898.75 million, a price-to-earnings ratio of 190.35 and a beta of 0.32. The company’s 50 day moving average is $23.37 and its 200 day moving average is $23.19. Pacira BioSciences, Inc. has a 12-month low of $18.80 and a 12-month high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The business had revenue of $177.38 million during the quarter, compared to analysts’ expectations of $171.80 million. Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS. On average, equities research analysts predict that Pacira BioSciences, Inc. will post 1.87 EPS for the current year.

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.