Baillie Gifford & Co. Reduces Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Baillie Gifford & Co. decreased its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000,774 shares of the company’s stock after selling 62,492 shares during the period. Baillie Gifford & Co.’s holdings in Pacira BioSciences were worth $29,243,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. abrdn plc boosted its position in Pacira BioSciences by 14.3% in the 4th quarter. abrdn plc now owns 448,691 shares of the company’s stock valued at $15,139,000 after buying an additional 56,081 shares during the period. Gradient Investments LLC raised its holdings in shares of Pacira BioSciences by 33.0% in the 4th quarter. Gradient Investments LLC now owns 139,949 shares of the company’s stock valued at $4,722,000 after purchasing an additional 34,723 shares in the last quarter. Cobalt Capital Management Inc. acquired a new stake in Pacira BioSciences during the 4th quarter worth $3,037,000. National Bank of Canada FI acquired a new stake in Pacira BioSciences during the 4th quarter worth $966,000. Finally, Bridge City Capital LLC acquired a new stake in Pacira BioSciences during the 1st quarter worth $1,810,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

PCRX stock traded down $0.60 during trading on Friday, reaching $21.06. 1,190,883 shares of the company were exchanged, compared to its average volume of 1,234,829. The company has a market cap of $980.34 million, a P/E ratio of 14.73 and a beta of 0.88. Pacira BioSciences, Inc. has a 52-week low of $20.52 and a 52-week high of $40.16. The stock’s 50 day moving average price is $28.42 and its 200 day moving average price is $29.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.78 and a current ratio of 5.81.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The company had revenue of $167.12 million for the quarter, compared to analysts’ expectations of $165.43 million. Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. As a group, analysts predict that Pacira BioSciences, Inc. will post 2.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on PCRX. Barclays lowered shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $38.00 to $25.00 in a research note on Wednesday. Piper Sandler restated an “overweight” rating and issued a $42.00 price objective on shares of Pacira BioSciences in a research note on Wednesday. HC Wainwright restated a “buy” rating and issued a $57.00 price objective on shares of Pacira BioSciences in a research note on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $43.00 price objective on shares of Pacira BioSciences in a research note on Tuesday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.10.

Insiders Place Their Bets

In other Pacira BioSciences news, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction of $80,117.00. Following the completion of the transaction, the insider now owns 95,557 shares in the company, valued at $2,699,485.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Pacira BioSciences news, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction of $80,117.00. Following the completion of the transaction, the insider now owns 95,557 shares in the company, valued at $2,699,485.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Daryl Gaugler sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $28,380.00. Following the completion of the transaction, the chief operating officer now directly owns 116,040 shares of the company’s stock, valued at approximately $3,293,215.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,150 shares of company stock worth $602,170. 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.