American Century Companies Inc. Acquires 531,831 Shares of Pacira BioSciences, Inc. $PCRX

Key Points

• American Century Companies Inc. significantly increased its holdings in Pacira BioSciences by 392.2% in the first quarter, now owning approximately 1.44% of the company, valued at $16.6 million.
• Insider transactions were reported, including a 30.13% decrease in holdings by director Marcelo Bigal, who sold shares at an average price of $23.67.
• Pacira BioSciences recently reported earnings of $0.74 EPS, beating consensus estimates and showing a 1.7% increase in revenue compared to the same quarter last year.

American Century Companies Inc. increased its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 392.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 667,423 shares of the company's stock after buying an additional 531,831 shares during the period. American Century Companies Inc. owned 1.44% of Pacira BioSciences worth $16,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PCRX. State of Wyoming increased its holdings in shares of Pacira BioSciences by 8.0% in the fourth quarter. State of Wyoming now owns 6,566 shares of the company's stock valued at $124,000 after purchasing an additional 487 shares during the last quarter. US Bancorp DE increased its holdings in shares of Pacira BioSciences by 31.0% in the first quarter. US Bancorp DE now owns 2,270 shares of the company's stock valued at $56,000 after purchasing an additional 537 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Pacira BioSciences by 3.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company's stock valued at $491,000 after purchasing an additional 794 shares during the last quarter. Corton Capital Inc. increased its holdings in shares of Pacira BioSciences by 6.0% in the fourth quarter. Corton Capital Inc. now owns 21,575 shares of the company's stock valued at $406,000 after purchasing an additional 1,214 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new position in shares of Pacira BioSciences in the fourth quarter valued at $26,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Truist Financial raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 target price for the company in a research report on Friday, July 25th. Zacks Research raised shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, Needham & Company LLC cut their price objective on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.83.

Pacira BioSciences Price Performance

Shares of PCRX stock traded down $0.23 on Friday, reaching $26.62. The company had a trading volume of 275,276 shares, compared to its average volume of 796,492. The stock has a market capitalization of $1.20 billion, a PE ratio of -9.58 and a beta of 0.48. The company has a quick ratio of 1.91, a current ratio of 2.38 and a debt-to-equity ratio of 0.50. Pacira BioSciences, Inc. has a one year low of $12.61 and a one year high of $27.64. The business's 50-day moving average is $23.64 and its 200 day moving average is $24.57.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%.The company had revenue of $181.10 million during the quarter, compared to the consensus estimate of $183.11 million. During the same quarter in the prior year, the firm posted $0.96 earnings per share. The firm's revenue was up 1.7% compared to the same quarter last year. Pacira BioSciences has set its FY 2025 guidance at EPS. Equities research analysts forecast that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Pacira BioSciences news, Director Marcelo Bigal sold 4,912 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $23.67, for a total transaction of $116,267.04. Following the completion of the sale, the director owned 11,393 shares of the company's stock, valued at approximately $269,672.31. This represents a 30.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Lauren Riker sold 5,578 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $26.21, for a total transaction of $146,199.38. Following the sale, the senior vice president directly owned 59,564 shares of the company's stock, valued at $1,561,172.44. This represents a 8.56% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company's stock.

About Pacira BioSciences

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients' journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.