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

Russell Investments Group Ltd. lowered its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 35.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 226,273 shares of the company’s stock after selling 123,756 shares during the quarter. Russell Investments Group Ltd.’s holdings in Pacira BioSciences were worth $7,634,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in PCRX. China Universal Asset Management Co. Ltd. grew its holdings in shares of Pacira BioSciences by 96.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company’s stock worth $36,000 after acquiring an additional 583 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Pacira BioSciences by 310.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,001 shares of the company’s stock valued at $61,000 after purchasing an additional 1,514 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Pacira BioSciences by 63.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,481 shares of the company’s stock valued at $137,000 after purchasing an additional 1,736 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Pacira BioSciences by 9.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,103 shares of the company’s stock worth $157,000 after purchasing an additional 438 shares during the period. Finally, Trust Point Inc. purchased a new position in shares of Pacira BioSciences in the fourth quarter worth approximately $245,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gary W. Pace sold 1,066 shares of the business’s 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 completion of the sale, the director now owns 140,384 shares in the company, valued at approximately $4,165,193.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Pacira BioSciences news, Director Gary W. Pace sold 1,066 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total transaction of $31,628.22. Following the sale, the director now owns 140,384 shares of the company’s stock, valued at approximately $4,165,193.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary W. Pace sold 90,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 22,127 shares of the company’s stock, valued at $677,086.20. The disclosure for this sale can be found here. 6.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PCRX. Royal Bank of Canada reduced their target price on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, March 1st. JPMorgan Chase & Co. began coverage on Pacira BioSciences in a research note on Thursday, March 7th. They issued an “overweight” rating and a $45.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of Pacira BioSciences in a research report on Tuesday, April 9th. HC Wainwright reissued a “buy” rating and set a $57.00 price target on shares of Pacira BioSciences in a report on Monday, March 4th. Finally, TheStreet raised Pacira BioSciences from a “d+” rating to a “c” rating in a research note on Thursday, February 29th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $49.50.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX opened at $26.51 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.17 and a current ratio of 5.24. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 32.73 and a beta of 0.77. The firm has a fifty day moving average price of $28.28 and a 200 day moving average price of $29.51. Pacira BioSciences, Inc. has a fifty-two week low of $25.33 and a fifty-two week high of $43.81.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.71. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. The firm had revenue of $181.24 million for the quarter, compared to the consensus estimate of $180.60 million. As a group, sell-side analysts expect that Pacira BioSciences, Inc. will post 2.17 earnings per share for the current fiscal 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.