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

Federated Hermes Inc. lessened its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 376,657 shares of the company’s stock after selling 11,810 shares during the period. Federated Hermes Inc. owned 0.81% of Pacira BioSciences worth $12,708,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its stake in Pacira BioSciences by 96.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company’s stock worth $36,000 after buying an additional 583 shares during the period. Nisa Investment Advisors LLC grew its holdings in Pacira BioSciences by 310.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,001 shares of the company’s stock worth $61,000 after acquiring an additional 1,514 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Pacira BioSciences by 63.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,481 shares of the company’s stock worth $137,000 after acquiring an additional 1,736 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Pacira BioSciences by 9.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,103 shares of the company’s stock worth $157,000 after acquiring an additional 438 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Pacira BioSciences during the 3rd quarter worth about $245,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Insider Buying and Selling

In related news, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction that occurred on Friday, March 8th. The shares were 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 in the company, valued at approximately $677,086.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pacira BioSciences news, Director Gary W. Pace sold 90,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.60, for a total transaction 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 approximately $677,086.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary W. Pace sold 1,066 shares of the firm’s stock in a transaction that occurred 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 transaction, 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. 6.60% of the stock is owned by company insiders.

Pacira BioSciences Stock Up 2.7 %

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

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, February 29th. The company reported $0.71 EPS for the quarter, hitting analysts’ consensus estimates of $0.71. The company had revenue of $181.24 million during the quarter, compared to analysts’ expectations of $180.60 million. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. Sell-side analysts forecast that Pacira BioSciences, Inc. will post 2.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $57.00 target price on shares of Pacira BioSciences in a report on Monday, March 4th. Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Pacira BioSciences in a report on Thursday, February 8th. JPMorgan Chase & Co. initiated coverage on shares of Pacira BioSciences in a report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 price target on the stock. Royal Bank of Canada lowered their price target on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Pacira BioSciences in a report on Tuesday, April 9th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Pacira BioSciences has an average rating of “Buy” and a consensus target price of $49.50.

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.