Pacira BioSciences, Inc. $PCRX Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Pacira BioSciences by 0.4%, owning 5,241,804 shares worth approximately $130 million as of the most recent reporting period.
• Pacira BioSciences has recently reported a quarterly earnings per share (EPS) of $0.74, surpassing analyst expectations of $0.73, amidst a revenue of $181.10 million for the quarter.
• Analysts have expressed a favorable outlook on Pacira BioSciences, with an average rating of "Moderate Buy" and a price target of $30.83.

Vanguard Group Inc. lowered its position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 0.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,241,804 shares of the company's stock after selling 22,115 shares during the quarter. Vanguard Group Inc. owned approximately 11.32% of Pacira BioSciences worth $130,259,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in Pacira BioSciences during the fourth quarter worth approximately $20,266,000. Assenagon Asset Management S.A. raised its holdings in Pacira BioSciences by 48.9% during the first quarter. Assenagon Asset Management S.A. now owns 673,289 shares of the company's stock worth $16,731,000 after purchasing an additional 221,196 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Pacira BioSciences by 109.9% during the fourth quarter. Nuveen Asset Management LLC now owns 625,917 shares of the company's stock worth $11,792,000 after purchasing an additional 327,754 shares in the last quarter. Northern Trust Corp raised its holdings in Pacira BioSciences by 30.8% during the fourth quarter. Northern Trust Corp now owns 616,891 shares of the company's stock worth $11,622,000 after purchasing an additional 145,205 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Pacira BioSciences by 3.4% during the fourth quarter. Wellington Management Group LLP now owns 470,191 shares of the company's stock worth $8,858,000 after purchasing an additional 15,542 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company's stock.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock traded up $0.14 during trading on Wednesday, reaching $26.13. The company's stock had a trading volume of 908,801 shares, compared to its average volume of 814,279. The company has a 50-day moving average price of $23.59 and a two-hundred day moving average price of $24.56. The firm has a market cap of $1.17 billion, a PE ratio of -9.40 and a beta of 0.48. 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.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $181.10 million for the quarter, compared to analysts' expectations of $183.11 million. Pacira BioSciences had a negative net margin of 18.08% and a positive return on equity of 13.29%. The company's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. 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 year.

Wall Street Analyst Weigh In

PCRX has been the topic of a number of research analyst reports. Zacks Research raised shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Truist Financial raised shares of 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. Needham & Company LLC cut their price objective on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. 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's stock. According to MarketBeat, Pacira BioSciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.83.

Insiders Place Their Bets

In other news, SVP Lauren Riker sold 5,578 shares of Pacira BioSciences stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $26.21, for a total value of $146,199.38. Following the transaction, the senior vice president directly owned 59,564 shares of the company's stock, valued at $1,561,172.44. The trade was a 8.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marcelo Bigal sold 4,912 shares of Pacira BioSciences stock in a transaction 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 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.

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.