Public Employees Retirement Association of Colorado boosted its stake in Pacira Biosciences Inc (NASDAQ:PCRX) by 12.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,660 shares of the company’s stock after buying an additional 45,447 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Pacira Biosciences were worth $18,512,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in Pacira Biosciences by 299.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 240,607 shares of the company’s stock worth $10,351,000 after buying an additional 180,425 shares during the period. Legal & General Group Plc lifted its holdings in Pacira Biosciences by 7.3% during the fourth quarter. Legal & General Group Plc now owns 16,652 shares of the company’s stock worth $717,000 after buying an additional 1,129 shares during the period. Amalgamated Bank purchased a new stake in shares of Pacira Biosciences during the 4th quarter valued at $251,000. Norges Bank purchased a new stake in shares of Pacira Biosciences during the 4th quarter valued at $17,905,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Pacira Biosciences by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 516,774 shares of the company’s stock valued at $22,231,000 after purchasing an additional 35,635 shares during the last quarter. 99.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ PCRX traded down $0.90 during mid-day trading on Wednesday, hitting $39.24. The stock had a trading volume of 9,224 shares, compared to its average volume of 584,574. The company has a debt-to-equity ratio of 0.99, a quick ratio of 7.83 and a current ratio of 8.62. The stock’s 50 day moving average price is $42.49. Pacira Biosciences Inc has a twelve month low of $35.07 and a twelve month high of $55.00. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 134.33, a PEG ratio of 1.61 and a beta of 1.15.
Pacira Biosciences (NASDAQ:PCRX) last released its earnings results on Thursday, August 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.27. Pacira Biosciences had a return on equity of 8.79% and a net margin of 2.04%. The firm had revenue of $102.60 million for the quarter, compared to the consensus estimate of $99.92 million. During the same period in the prior year, the firm earned $0.24 EPS. The firm’s revenue was up 22.0% on a year-over-year basis. On average, equities research analysts expect that Pacira Biosciences Inc will post 0.76 EPS for the current fiscal year.
In related news, CFO Charles A. Reinhart III sold 1,106 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $42.91, for a total value of $47,458.46. Following the transaction, the chief financial officer now directly owns 11,936 shares of the company’s stock, valued at approximately $512,173.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Lauren Bullaro Riker sold 2,126 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $44.28, for a total value of $94,139.28. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $444,659.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,990 shares of company stock worth $2,497,045. 5.80% of the stock is owned by insiders.
Several analysts have recently commented on PCRX shares. BidaskClub upgraded Pacira Biosciences from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 31st. Stifel Nicolaus set a $42.00 price objective on Pacira Biosciences and gave the company a “hold” rating in a report on Friday, August 9th. Barclays started coverage on Pacira Biosciences in a report on Tuesday, June 11th. They set an “overweight” rating and a $52.00 price objective for the company. Wedbush set a $85.00 price objective on Pacira Biosciences and gave the company a “buy” rating in a report on Friday, June 28th. Finally, BMO Capital Markets decreased their price objective on Pacira Biosciences from $46.00 to $43.00 and set a “market perform” rating for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $54.13.
Pacira Biosciences Company Profile
Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.
Further Reading: Sell-Side Analysts
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