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

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Pacira BioSciences in the 1st quarter worth approximately $277,000. ProShare Advisors LLC boosted its holdings in shares of Pacira BioSciences by 30.2% during the fourth quarter. ProShare Advisors LLC now owns 16,003 shares of the company's stock worth $301,000 after purchasing an additional 3,710 shares during the period. GAMMA Investing LLC lifted its stake in Pacira BioSciences by 112.8% in the first quarter. GAMMA Investing LLC now owns 3,694 shares of the company's stock valued at $92,000 after acquiring an additional 1,958 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 acquiring an additional 794 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in Pacira BioSciences in the fourth quarter valued at approximately $251,000. Institutional investors and hedge funds own 99.73% of the company's stock.

Pacira BioSciences Stock Down 0.7%

NASDAQ PCRX traded down $0.18 during trading hours on Friday, reaching $26.67. 616,350 shares of the company's stock were exchanged, compared to its average volume of 820,286. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -9.59 and a beta of 0.48. Pacira BioSciences, Inc. has a one year low of $12.61 and a one year high of $27.64. The company's 50-day moving average is $23.69 and its two-hundred day moving average is $24.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.91 and a current ratio of 2.38.

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

Wall Street Analysts Forecast Growth

PCRX has been the subject of a number of analyst reports. Needham & Company LLC reduced 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 note on Friday, May 9th. Truist Financial raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price target on the stock in a report on Friday, July 25th. Zacks Research raised shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Finally, Wall Street Zen raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $30.83.

Insider Buying and Selling at Pacira BioSciences

In related news, SVP Lauren Riker sold 5,578 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total value of $146,199.38. Following the completion of the transaction, the senior vice president owned 59,564 shares of the company's stock, valued at $1,561,172.44. The trade was a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Marcelo Bigal sold 4,912 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $23.67, for a total transaction of $116,267.04. Following the sale, the director directly owned 11,393 shares of the company's stock, valued at $269,672.31. This represents a 30.13% decrease in their position. The disclosure for this sale can be found here. Company 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.