PNC Financial Services Group Inc. Buys 2,387 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

PNC Financial Services Group Inc. raised its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 33.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,485 shares of the company’s stock after acquiring an additional 2,387 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pacira BioSciences were worth $320,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. ICA Group Wealth Management LLC bought a new position in shares of Pacira BioSciences during the 4th quarter worth approximately $30,000. Quadrant Capital Group LLC raised its position in shares of Pacira BioSciences by 61.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after purchasing an additional 885 shares during the period. Cape Investment Advisory Inc. acquired a new stake in shares of Pacira BioSciences during the 4th quarter worth about $97,000. Quest Partners LLC bought a new stake in shares of Pacira BioSciences during the 4th quarter worth about $125,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Pacira BioSciences by 353.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,373 shares of the company’s stock valued at $181,000 after acquiring an additional 4,188 shares during the period. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, insider Kristen Williams sold 7,452 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $211,487.76. Following the completion of the transaction, the insider now owns 102,912 shares of the company’s stock, valued at $2,920,642.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Kristen Williams sold 7,452 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $211,487.76. Following the sale, the insider now directly owns 102,912 shares of the company’s stock, valued at approximately $2,920,642.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daryl Gaugler sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $28,380.00. Following the transaction, the chief operating officer now owns 116,040 shares of the company’s stock, valued at $3,293,215.20. The disclosure for this sale can be found here. Insiders have sold 18,314 shares of company stock valued at $522,053 over the last ninety days. 6.40% of the stock is owned by corporate insiders.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX opened at $28.61 on Friday. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.33 billion, a PE ratio of 20.01 and a beta of 0.87. The firm has a 50 day moving average of $28.72 and a 200-day moving average of $29.86. Pacira BioSciences, Inc. has a 12 month low of $25.33 and a 12 month high of $40.45.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.04). Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. The business had revenue of $167.12 million for the quarter, compared to the consensus estimate of $165.43 million. On average, equities research analysts predict that Pacira BioSciences, Inc. will post 2.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PCRX shares. Needham & Company LLC reduced their price objective on Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. JPMorgan Chase & Co. started coverage on Pacira BioSciences in a report on Thursday, March 7th. They set an “overweight” rating and a $45.00 target price for the company. Barclays decreased their price target on shares of Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $57.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $47.40.

Pacira BioSciences Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.