Principal Financial Group Inc. Boosts Stake in Pacira BioSciences, Inc. $PCRX

Principal Financial Group Inc. increased its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 283,284 shares of the company’s stock after purchasing an additional 21,896 shares during the quarter. Principal Financial Group Inc. owned 0.72% of Pacira BioSciences worth $6,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in Pacira BioSciences by 5,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock worth $39,000 after buying an additional 1,475 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Pacira BioSciences during the 4th quarter valued at about $48,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Pacira BioSciences during the 4th quarter valued at about $51,000. Global Retirement Partners LLC grew its stake in shares of Pacira BioSciences by 479.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock worth $52,000 after acquiring an additional 1,678 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of Pacira BioSciences by 127.3% in the fourth quarter. Hantz Financial Services Inc. now owns 2,573 shares of the company’s stock worth $67,000 after acquiring an additional 1,441 shares during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Performance

NASDAQ:PCRX opened at $26.47 on Tuesday. The stock has a 50-day simple moving average of $24.17 and a two-hundred day simple moving average of $23.19. Pacira BioSciences, Inc. has a 52-week low of $18.80 and a 52-week high of $27.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.35 and a current ratio of 4.73. The firm has a market capitalization of $1.04 billion, a PE ratio of 220.60 and a beta of 0.27.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The company had revenue of $177.38 million during the quarter, compared to the consensus estimate of $171.80 million. During the same period last year, the business earned $0.65 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts forecast that Pacira BioSciences, Inc. will post 1.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Needham & Company LLC lifted their target price on shares of Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Weiss Ratings raised Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Finally, HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.40.

Insider Transactions at Pacira BioSciences

In related news, SVP Lauren Riker sold 6,115 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total value of $143,702.50. Following the completion of the sale, the senior vice president directly owned 62,284 shares of the company’s stock, valued at approximately $1,463,674. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.40% of the company’s stock.

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.