Principal Financial Group Inc. Increases Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Principal Financial Group Inc. grew its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,276 shares of the company’s stock after buying an additional 9,543 shares during the quarter. Principal Financial Group Inc. owned 0.58% of Pacira BioSciences worth $6,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCRX. Allspring Global Investments Holdings LLC purchased a new stake in Pacira BioSciences during the 1st quarter worth approximately $277,000. ProShare Advisors LLC boosted its position in shares of Pacira BioSciences by 30.2% in the 4th quarter. ProShare Advisors LLC now owns 16,003 shares of the company’s stock valued at $301,000 after purchasing an additional 3,710 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Pacira BioSciences by 16.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 502,204 shares of the company’s stock worth $9,462,000 after acquiring an additional 70,307 shares during the period. GAMMA Investing LLC raised its stake in shares of Pacira BioSciences by 112.8% during the 1st quarter. GAMMA Investing LLC now owns 3,694 shares of the company’s stock worth $92,000 after purchasing an additional 1,958 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Pacira BioSciences by 3.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company’s stock worth $491,000 after purchasing an additional 794 shares in the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. HC Wainwright increased their price target on Pacira BioSciences from $48.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, April 8th. Wall Street Zen upgraded Pacira BioSciences from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Needham & Company LLC dropped their price target on Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.44.

Pacira BioSciences Stock Down 2.5%

PCRX stock opened at $22.73 on Wednesday. The firm has a 50 day simple moving average of $24.71 and a 200-day simple moving average of $24.33. Pacira BioSciences, Inc. has a twelve month low of $11.16 and a twelve month high of $27.64. The company has a market capitalization of $1.05 billion, a P/E ratio of -9.97 and a beta of 0.48. The company has a current ratio of 2.41, a quick ratio of 1.99 and a debt-to-equity ratio of 0.48.

Insider Buying and Selling

In other Pacira BioSciences news, SVP Lauren Riker sold 5,578 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total value of $146,199.38. Following the completion of the sale, the senior vice president directly owned 59,564 shares in the company, valued at $1,561,172.44. This represents a 8.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is currently owned by corporate insiders.

About Pacira BioSciences

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.