Federated Hermes Inc. Trims Stock Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Federated Hermes Inc. reduced its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 3.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 376,657 shares of the company’s stock after selling 11,810 shares during the period. Federated Hermes Inc.’s holdings in Pacira BioSciences were worth $12,708,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCRX. Pacer Advisors Inc. increased its stake in 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 purchasing an additional 1,041,417 shares during the period. Rubric Capital Management LP purchased a new stake in Pacira BioSciences during the third quarter worth about $14,102,000. Assenagon Asset Management S.A. increased its stake in Pacira BioSciences by 185.2% during the fourth 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 during the period. Eagle Asset Management Inc. increased its stake in Pacira BioSciences by 84.8% during 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 period. Finally, Rice Hall James & Associates LLC increased its stake in Pacira BioSciences by 6.8% during 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 period. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gary W. Pace sold 90,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.60, for a total value of $2,754,000.00. Following the completion of the sale, the director now directly owns 22,127 shares of the company’s stock, valued at $677,086.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Gary W. Pace sold 90,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.60, for a total value of $2,754,000.00. Following the completion of the sale, the director now directly owns 22,127 shares of the company’s stock, valued at $677,086.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary W. Pace sold 1,066 shares of the 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 completion of the sale, the director now directly owns 140,384 shares of the company’s stock, valued at $4,165,193.28. The disclosure for this sale can be found here. Corporate insiders own 6.60% of the company’s stock.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $26.81 on Wednesday. The stock has a 50 day moving average price of $28.91 and a 200 day moving average price of $29.73. The company has a quick ratio of 4.17, a current ratio of 5.24 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 33.10 and a beta of 0.76. Pacira BioSciences, Inc. has a 52-week low of $25.74 and a 52-week high of $48.60.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71. The firm had revenue of $181.24 million during the quarter, compared to the consensus estimate of $180.60 million. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. Research analysts predict that Pacira BioSciences, Inc. will post 2.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on PCRX. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Pacira BioSciences in a research note on Thursday, February 8th. Royal Bank of Canada cut 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 note on Friday, March 1st. JPMorgan Chase & Co. began coverage on shares of Pacira BioSciences in a research note on Thursday, March 7th. They set an “overweight” rating and a $45.00 target price on the stock. TheStreet upgraded shares of Pacira BioSciences from a “d+” rating to a “c” rating in a research note on Thursday, February 29th. Finally, HC Wainwright restated a “buy” rating and set a $57.00 target price on shares of Pacira BioSciences in a research note on Monday, March 4th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Pacira BioSciences has a consensus rating of “Buy” and an average price target of $49.50.

Pacira BioSciences Company 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.