D. E. Shaw & Co. Inc. Decreases Stake in Pacira BioSciences, Inc. (NASDAQ:PCRX)

D. E. Shaw & Co. Inc. lowered its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 30.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 598,529 shares of the company’s stock after selling 259,427 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Pacira BioSciences were worth $41,951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PCRX. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Pacira BioSciences in the first quarter worth $65,000. Los Angeles Capital Management LLC raised its holdings in shares of Pacira BioSciences by 1.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 24,068 shares of the company’s stock worth $1,440,000 after purchasing an additional 275 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Pacira BioSciences during the fourth quarter worth $219,000. The Manufacturers Life Insurance Company raised its holdings in shares of Pacira BioSciences by 4.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,376 shares of the company’s stock worth $1,518,000 after purchasing an additional 1,064 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Pacira BioSciences by 2.4% during the fourth quarter. Federated Hermes Inc. now owns 182,680 shares of the company’s stock worth $10,932,000 after purchasing an additional 4,275 shares during the last quarter.

Shares of NASDAQ PCRX opened at $58.49 on Thursday. The firm has a 50-day moving average of $60.40. Pacira BioSciences, Inc. has a 52-week low of $48.23 and a 52-week high of $80.00. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 40.67 and a beta of 1.07. The company has a current ratio of 3.10, a quick ratio of 2.83 and a debt-to-equity ratio of 0.49.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Monday, May 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.11). The company had revenue of $119.00 million during the quarter, compared to analyst estimates of $119.23 million. Pacira BioSciences had a net margin of 33.35% and a return on equity of 11.09%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. Equities analysts expect that Pacira BioSciences, Inc. will post 2.1 EPS for the current fiscal year.

In related news, insider Max Reinhardt sold 421 shares of the business’s stock in a transaction dated Friday, July 2nd. The shares were sold at an average price of $59.76, for a total transaction of $25,158.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Lauren Bullaro Riker sold 1,047 shares of Pacira BioSciences stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $61.04, for a total transaction of $63,908.88. Following the transaction, the vice president now directly owns 12,134 shares in the company, valued at $740,659.36. The disclosure for this sale can be found here. Insiders have sold 54,897 shares of company stock worth $3,338,801 over the last 90 days. 5.20% of the stock is currently owned by company insiders.

Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Pacira BioSciences from a “sell” rating to a “hold” rating and set a $65.00 target price for the company in a report on Tuesday, June 8th. Northland Securities reduced their target price on shares of Pacira BioSciences from $75.00 to $66.00 and set a “market perform” rating for the company in a report on Wednesday, May 5th. TheStreet cut shares of Pacira BioSciences from a “b” rating to a “c+” rating in a report on Thursday, April 8th. BMO Capital Markets cut their price objective on shares of Pacira BioSciences from $72.00 to $70.00 and set a “market perform” rating for the company in a report on Monday, May 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Pacira BioSciences in a report on Wednesday, July 14th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Pacira BioSciences currently has a consensus rating of “Buy” and a consensus price target of $77.54.

Pacira BioSciences Profile

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.

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Institutional Ownership by Quarter for Pacira BioSciences (NASDAQ:PCRX)

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