Wellington Management Group LLP Acquires 66,939 Shares of Pacira BioSciences, Inc. $PCRX

Key Points

• Wellington Management Group LLP increased its stake in Pacira BioSciences by 14.2%, holding over 537,000 shares worth approximately $13.35 million.
• Pacira BioSciences reported a quarterly earnings per share of $0.74, surpassing estimates, though revenue of $181.1 million slightly missed the analyst expectations of $183.11 million.
• The stock price has shown growth, opening at $25.99, and it has seen a 12-month high of $27.64 while maintaining a market cap of $1.17 billion.

Wellington Management Group LLP increased its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 14.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 537,130 shares of the company's stock after buying an additional 66,939 shares during the quarter. Wellington Management Group LLP owned about 1.16% of Pacira BioSciences worth $13,348,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new stake in Pacira BioSciences during the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Pacira BioSciences in the first quarter valued at about $51,000. US Bancorp DE lifted 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 in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Pacira BioSciences by 372.2% in the first quarter. Brooklyn Investment Group now owns 2,238 shares of the company's stock valued at $56,000 after purchasing an additional 1,764 shares in the last quarter. Finally, Wealthquest Corp purchased a new stake in shares of Pacira BioSciences in the first quarter valued at about $59,000. Hedge funds and other institutional investors own 99.73% of the company's stock.

Analyst Upgrades and Downgrades

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

Pacira BioSciences Stock Performance

PCRX traded down $0.18 during trading hours on Monday, hitting $26.67. The company's stock had a trading volume of 616,350 shares, compared to its average volume of 790,852. Pacira BioSciences, Inc. has a fifty-two week low of $12.61 and a fifty-two week high of $27.64. The company has a current ratio of 2.38, a quick ratio of 1.91 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.20 billion, a PE ratio of -9.59 and a beta of 0.41. The company has a 50-day simple moving average of $23.73 and a 200 day simple moving average of $24.54.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.74 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 firm had revenue of $181.10 million for the quarter, compared to analysts' expectations of $183.11 million. During the same period last year, the firm earned $0.96 EPS. 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. As a group, sell-side analysts expect that Pacira BioSciences, Inc. will post 2.41 EPS for the current year.

Insider Activity at Pacira BioSciences

In related news, SVP Lauren Riker sold 5,578 shares of the business's 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 transaction, the senior vice president directly owned 59,564 shares of the company's stock, valued at approximately $1,561,172.44. The trade was a 8.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Marcelo Bigal sold 4,912 shares of the business's 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 transaction, the director directly owned 11,393 shares in the company, valued at $269,672.31. The trade was a 30.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company's stock.

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.