Rhumbline Advisers Decreases Holdings in Pacira BioSciences, Inc. $PCRX

Key Points

• Rhumbline Advisers reduced its stake in Pacira BioSciences by 6.3%, selling 9,754 shares and leaving it with approximately 0.31% of the company valued at $3.58 million.
• Director Marcelo Bigal sold 4,912 shares at an average price of $23.67, decreasing his ownership by 30.13% and retaining 11,393 shares valued at around $269,672.
• Research firms have raised their ratings on Pacira BioSciences, with Wall Street Zen upgrading it to a "buy," indicating a positive shift in analyst sentiment regarding the stock.

Rhumbline Advisers cut its position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 6.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 144,319 shares of the company's stock after selling 9,754 shares during the period. Rhumbline Advisers owned approximately 0.31% of Pacira BioSciences worth $3,586,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PCRX. Caitong International Asset Management Co. Ltd acquired a new stake in Pacira BioSciences in the first quarter valued at approximately $51,000. US Bancorp DE lifted its position 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 acquiring an additional 537 shares in the last quarter. Brooklyn Investment Group lifted its position 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 acquiring an additional 1,764 shares in the last quarter. Wealthquest Corp purchased a new position in Pacira BioSciences during the first quarter worth approximately $59,000. Finally, Strs Ohio purchased a new position in Pacira BioSciences during the first quarter worth approximately $75,000. 99.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Marcelo Bigal sold 4,912 shares of the business's 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 transaction, the director directly owned 11,393 shares of the company's stock, valued at $269,672.31. The trade was a 30.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Zacks Research upgraded Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. 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 research report on Friday, July 25th. Finally, Wall Street Zen upgraded Pacira BioSciences from a "hold" rating to a "buy" rating in a research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $30.83.

Pacira BioSciences Trading Up 0.0%

Shares of NASDAQ PCRX traded up $0.01 during trading on Friday, reaching $26.66. The stock had a trading volume of 1,275,019 shares, compared to its average volume of 599,864. Pacira BioSciences, Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $27.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.91 and a current ratio of 2.38. The business's 50-day moving average price is $24.64 and its 200-day moving average price is $24.71. The company has a market cap of $1.20 billion, a P/E ratio of -9.59 and a beta of 0.42.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.74 earnings per share for the quarter, beating 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 business had revenue of $181.10 million during the quarter, compared to analysts' expectations of $183.11 million. During the same period in the previous year, the firm posted $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, equities research analysts predict that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal 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.