Russell Investments Group Ltd. Sells 123,756 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Russell Investments Group Ltd. trimmed its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 35.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,273 shares of the company’s stock after selling 123,756 shares during the period. Russell Investments Group Ltd. owned approximately 0.49% of Pacira BioSciences worth $7,634,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PCRX. Pacer Advisors Inc. increased its position in shares of Pacira BioSciences by 397,487.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock worth $35,146,000 after acquiring an additional 1,041,417 shares in the last quarter. Rubric Capital Management LP acquired a new position in Pacira BioSciences during the 3rd quarter valued at about $14,102,000. Assenagon Asset Management S.A. increased its holdings in Pacira BioSciences by 185.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 246,621 shares of the company’s stock worth $8,321,000 after purchasing an additional 160,149 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Pacira BioSciences by 84.8% in the third quarter. Eagle Asset Management Inc. now owns 136,393 shares of the company’s stock worth $4,185,000 after purchasing an additional 62,597 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in shares of Pacira BioSciences by 6.8% in the third quarter. Rice Hall James & Associates LLC now owns 968,485 shares of the company’s stock worth $29,713,000 after purchasing an additional 61,680 shares during the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $57.00 price target on shares of Pacira BioSciences in a report on Monday, March 4th. TheStreet upgraded shares of Pacira BioSciences from a “d+” rating to a “c” rating in a report on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Pacira BioSciences in a research report on Tuesday, April 9th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Pacira BioSciences in a research report on Thursday, February 8th. Finally, Royal Bank of Canada dropped their target price on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Pacira BioSciences currently has an average rating of “Buy” and a consensus price target of $49.50.

Insiders Place Their Bets

In other news, Director Gary W. Pace sold 1,066 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total value of $31,628.22. Following the sale, the director now owns 140,384 shares of the company’s stock, valued at $4,165,193.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Gary W. Pace sold 90,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the sale, the director now owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary W. Pace sold 1,066 shares of Pacira BioSciences stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total value of $31,628.22. Following the transaction, the director now directly owns 140,384 shares of the company’s stock, valued at approximately $4,165,193.28. The disclosure for this sale can be found here. Company insiders own 6.60% of the company’s stock.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $26.51 on Wednesday. The company has a current ratio of 5.24, a quick ratio of 4.17 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $28.28 and its 200 day simple moving average is $29.51. Pacira BioSciences, Inc. has a 12 month low of $25.33 and a 12 month high of $43.81. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 32.73 and a beta of 0.77.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.71 EPS for the quarter, meeting analysts’ consensus estimates of $0.71. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. The firm had revenue of $181.24 million for the quarter, compared to analysts’ expectations of $180.60 million. Sell-side analysts forecast that Pacira BioSciences, Inc. will post 2.17 EPS for the current year.

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.