Pacira BioSciences, Inc. (NASDAQ:PCRX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 256,756 shares of the company’s stock after selling 8,781 shares during the quarter. Principal Financial Group Inc. owned 0.55% of Pacira BioSciences worth $7,346,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vestal Point Capital LP purchased a new position in shares of Pacira BioSciences during the 4th quarter valued at approximately $40,488,000. Archon Capital Management LLC purchased a new position in Pacira BioSciences in the first quarter valued at $15,677,000. Frontier Capital Management Co. LLC boosted its stake in shares of Pacira BioSciences by 15.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock worth $70,332,000 after acquiring an additional 285,045 shares in the last quarter. Norges Bank purchased a new stake in shares of Pacira BioSciences during the 4th quarter worth about $9,542,000. Finally, Doma Perpetual Capital Management LLC acquired a new stake in shares of Pacira BioSciences during the 4th quarter valued at about $6,286,000. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Stock Down 5.7 %

PCRX stock opened at $13.85 on Monday. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $18.16 and a two-hundred day moving average of $25.07. Pacira BioSciences, Inc. has a 12 month low of $11.16 and a 12 month high of $35.95. The company has a market cap of $644.66 million, a price-to-earnings ratio of 9.69 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.53 by $0.11. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. The firm had revenue of $178.02 million during the quarter, compared to analysts’ expectations of $173.31 million. As a group, analysts forecast that Pacira BioSciences, Inc. will post 2.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on PCRX. Barclays downgraded Pacira BioSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $38.00 to $25.00 in a research report on Wednesday, July 3rd. Royal Bank of Canada cut shares of Pacira BioSciences from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $37.00 to $14.00 in a research note on Monday, August 12th. Raymond James cut shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research report on Monday, August 12th. Needham & Company LLC dropped their target price on shares of Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, HC Wainwright cut their target price on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.78.

Insiders Place Their Bets

In other news, SVP Lauren Riker sold 3,970 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the transaction, the senior vice president now owns 38,075 shares of the company’s stock, valued at approximately $1,093,514. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Kristen Williams sold 7,452 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $211,487.76. Following the completion of the sale, the insider now owns 102,912 shares of the company’s stock, valued at approximately $2,920,642.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Lauren Riker sold 3,970 shares of Pacira BioSciences stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the sale, the senior vice president now directly owns 38,075 shares in the company, valued at approximately $1,093,514. The disclosure for this sale can be found here. In the last three months, insiders purchased 11,176 shares of company stock valued at $136,240 and sold 22,095 shares valued at $621,118. Corporate insiders own 6.40% of the company’s stock.

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.