D. E. Shaw & Co. Inc. cut its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 30.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 598,529 shares of the company’s stock after selling 259,427 shares during the period. D. E. Shaw & Co. Inc. owned about 1.36% of Pacira BioSciences worth $41,951,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Pacira BioSciences in the first quarter worth $65,000. Los Angeles Capital Management LLC raised its position in Pacira BioSciences by 1.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 24,068 shares of the company’s stock valued at $1,440,000 after purchasing an additional 275 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Pacira BioSciences in the fourth quarter worth about $219,000. The Manufacturers Life Insurance Company increased its holdings in shares of Pacira BioSciences by 4.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,376 shares of the company’s stock worth $1,518,000 after buying an additional 1,064 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Pacira BioSciences by 2.4% in the fourth quarter. Federated Hermes Inc. now owns 182,680 shares of the company’s stock worth $10,932,000 after buying an additional 4,275 shares during the period.
In other Pacira BioSciences news, CEO David M. Stack sold 21,250 shares of the business’s stock in a transaction on Tuesday, May 11th. The shares were sold at an average price of $60.93, for a total transaction of $1,294,762.50. Following the completion of the sale, the chief executive officer now directly owns 97,311 shares in the company, valued at approximately $5,929,159.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Lauren Bullaro Riker sold 1,047 shares of the business’s stock in a transaction on Friday, June 4th. The shares were sold at an average price of $61.04, for a total transaction of $63,908.88. Following the sale, the vice president now owns 12,134 shares of the company’s stock, valued at $740,659.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,897 shares of company stock valued at $3,338,801. Company insiders own 5.20% of the company’s stock.
Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Monday, May 3rd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.11). Pacira BioSciences had a return on equity of 11.09% and a net margin of 33.35%. The firm had revenue of $119.00 million during the quarter, compared to analysts’ expectations of $119.23 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Pacira BioSciences’s revenue was up 12.6% on a year-over-year basis. Equities research analysts predict that Pacira BioSciences, Inc. will post 2.1 earnings per share for the current year.
Several research analysts have recently commented on the company. BMO Capital Markets decreased their price objective on Pacira BioSciences from $72.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, May 10th. Berenberg Bank initiated coverage on Pacira BioSciences in a report on Friday, April 9th. They issued a “buy” rating and a $93.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $86.00 target price on shares of Pacira BioSciences in a research note on Wednesday, July 14th. Northland Securities cut their target price on Pacira BioSciences from $75.00 to $66.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 5th. Finally, Zacks Investment Research raised Pacira BioSciences from a “sell” rating to a “hold” rating and set a $65.00 target price on the stock in a research note on Tuesday, June 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Pacira BioSciences currently has a consensus rating of “Buy” and an average target price of $77.54.
Pacira BioSciences 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: Net Income
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