Wellington Management Group LLP Increases Position in 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 raised its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 14.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 537,130 shares of the company's stock after buying an additional 66,939 shares during the period. Wellington Management Group LLP owned about 1.16% of Pacira BioSciences worth $13,348,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PCRX. Point72 Asset Management L.P. acquired a new stake in shares of Pacira BioSciences during the 4th quarter valued at about $20,266,000. American Century Companies Inc. grew its position in shares of Pacira BioSciences by 392.2% during the 1st quarter. American Century Companies Inc. now owns 667,423 shares of the company's stock valued at $16,585,000 after acquiring an additional 531,831 shares during the period. Nuveen LLC acquired a new stake in shares of Pacira BioSciences during the 1st quarter valued at about $12,884,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Pacira BioSciences during the 4th quarter valued at about $8,558,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Pacira BioSciences during the 4th quarter valued at about $8,180,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Pacira BioSciences Price Performance

PCRX traded down $0.18 during trading on Friday, reaching $26.67. The company's stock had a trading volume of 616,350 shares, compared to its average volume of 820,286. 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 firm has a fifty day simple moving average of $23.69 and a two-hundred day simple moving average of $24.57. Pacira BioSciences, Inc. has a 1 year low of $12.61 and a 1 year high of $27.64. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -9.59 and a beta of 0.48.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released 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 negative net margin of 18.08% and a positive return on equity of 13.29%. The business had revenue of $181.10 million for the quarter, compared to analyst estimates of $183.11 million. During the same period last year, the company posted $0.96 EPS. The business's revenue was up 1.7% on a year-over-year basis. Pacira BioSciences has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Pacira BioSciences, Inc. will post 2.41 EPS for the current year.

Insider Activity at Pacira BioSciences

In other news, SVP Lauren Riker sold 5,578 shares of Pacira BioSciences 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marcelo Bigal sold 4,912 shares of Pacira BioSciences 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 sale, the director directly owned 11,393 shares in the company, valued at approximately $269,672.31. The trade was a 30.13% decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Pacira BioSciences Company 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.