Rhumbline Advisers Sells 9,754 Shares of 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 decreased its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,319 shares of the company's stock after selling 9,754 shares during the period. Rhumbline Advisers owned about 0.31% of Pacira BioSciences worth $3,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Pacira BioSciences during the 1st quarter valued at $51,000. US Bancorp DE raised its position in shares of Pacira BioSciences by 31.0% during the 1st 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. Brooklyn Investment Group raised its position in shares of Pacira BioSciences by 372.2% during the 1st quarter. Brooklyn Investment Group now owns 2,238 shares of the company's stock valued at $56,000 after buying an additional 1,764 shares in the last quarter. Wealthquest Corp purchased a new stake in shares of Pacira BioSciences during the 1st quarter valued at about $59,000. Finally, Strs Ohio purchased a new stake in shares of Pacira BioSciences during the 1st quarter valued at about $75,000. Hedge funds and other institutional investors own 99.73% of the company's stock.

Insiders Place Their Bets

In other Pacira BioSciences news, 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 value of $116,267.04. Following the completion of the transaction, the director owned 11,393 shares of the company's stock, valued at approximately $269,672.31. The trade was a 30.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.40% of the company's stock.

Pacira BioSciences Trading Down 1.0%

NASDAQ:PCRX opened at $26.86 on Tuesday. Pacira BioSciences, Inc. has a 12 month low of $13.04 and a 12 month high of $27.64. The firm has a fifty day simple moving average of $24.38 and a 200-day simple moving average of $24.64. 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 company has a market capitalization of $1.21 billion, a P/E ratio of -9.66 and a beta of 0.42.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $181.10 million during 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 firm's revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.96 earnings per share. Pacira BioSciences has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on PCRX. Wall Street Zen raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Zacks Research raised shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, Truist Financial raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 target price on the stock in a research report on Friday, July 25th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Pacira BioSciences has an average rating of "Moderate Buy" and a consensus target price of $30.83.

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.

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