Invesco Ltd. Has $15.53 Million Holdings in Pacira BioSciences, Inc. $PCRX

Key Points

• Invesco Ltd. increased its stake in Pacira BioSciences by 159.9% in Q1 2023, owning approximately 1.35% of the company, valued at $15.5 million.
• Pacira BioSciences reported a Q2 EPS of $0.74, beating estimates, while revenue was slightly below expectations at $181.1 million.
• Multiple analysts have upgraded their ratings for Pacira BioSciences, with a consensus rating of "Moderate Buy" and a target price of $30.83.

Invesco Ltd. lifted its position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 159.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 624,865 shares of the company's stock after buying an additional 384,419 shares during the quarter. Invesco Ltd. owned about 1.35% of Pacira BioSciences worth $15,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming grew its stake 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 buying an additional 487 shares in the last quarter. US Bancorp DE grew its stake 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 buying an additional 537 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 buying an additional 794 shares in the last quarter. Sterling Capital Management LLC boosted its position in Pacira BioSciences by 779.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company's stock worth $26,000 after purchasing an additional 1,208 shares during the period. Finally, Corton Capital Inc. boosted its position in Pacira BioSciences by 6.0% during the fourth quarter. Corton Capital Inc. now owns 21,575 shares of the company's stock worth $406,000 after purchasing an additional 1,214 shares during the period. 99.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Truist Financial raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price objective 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. 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 report on Friday, May 9th. Finally, Wall Street Zen raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.83.

Insiders Place Their Bets

In other news, Director Marcelo Bigal sold 4,912 shares of Pacira BioSciences stock in a transaction on Thursday, August 7th. The stock was 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 trade represents a 30.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Lauren Riker sold 5,578 shares of Pacira BioSciences stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total value 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. 6.40% of the stock is currently owned by company insiders.

Pacira BioSciences Stock Performance

Shares of PCRX traded up $0.72 during midday trading on Thursday, reaching $26.85. 973,124 shares of the stock were exchanged, compared to its average volume of 818,245. Pacira BioSciences, Inc. has a twelve month low of $12.61 and a twelve month high of $27.64. The company has a quick ratio of 1.91, a current ratio of 2.38 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.21 billion, a P/E ratio of -9.66 and a beta of 0.48. The stock's 50 day simple moving average is $23.64 and its 200 day simple moving average is $24.57.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates 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 last year, the firm earned $0.96 earnings per share. The company's revenue was up 1.7% on a year-over-year basis. Pacira BioSciences has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current year.

Pacira BioSciences Profile

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.