Affinity Investment Advisors LLC Decreases Stock Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Affinity Investment Advisors LLC trimmed its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 37.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,125 shares of the company’s stock after selling 3,620 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Pacira BioSciences were worth $207,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PCRX. Pacer Advisors Inc. grew its stake in shares of Pacira BioSciences by 397,487.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock worth $35,146,000 after acquiring an additional 1,041,417 shares in the last quarter. Rubric Capital Management LP acquired a new position in shares of Pacira BioSciences in the third quarter worth $14,102,000. Norges Bank acquired a new position in shares of Pacira BioSciences in the fourth quarter worth $9,542,000. Assenagon Asset Management S.A. grew its stake in shares of Pacira BioSciences by 185.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 246,621 shares of the company’s stock worth $8,321,000 after acquiring an additional 160,149 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Pacira BioSciences in the fourth quarter worth $4,521,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

Shares of PCRX stock traded down $0.20 during trading hours on Wednesday, hitting $30.70. The company’s stock had a trading volume of 253,522 shares, compared to its average volume of 599,871. The business has a fifty day moving average of $28.34 and a 200-day moving average of $29.66. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 21.61 and a beta of 0.77. Pacira BioSciences, Inc. has a twelve month low of $25.33 and a twelve month high of $42.63. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.71. The business had revenue of $181.24 million for the quarter, compared to the consensus estimate of $180.60 million. Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. As a group, equities research analysts anticipate that Pacira BioSciences, Inc. will post 2.12 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on PCRX shares. Barclays dropped their price target on shares of Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. TheStreet raised shares of Pacira BioSciences from a “d+” rating to a “c” rating in a research report on Thursday, February 29th. Needham & Company LLC reduced their target price on shares of Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Pacira BioSciences in a research note on Thursday, March 7th. They set an “overweight” rating and a $45.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $47.40.

Insider Activity at Pacira BioSciences

In related news, Director Gary W. Pace sold 90,000 shares of the company’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 transaction, the director now owns 22,127 shares of the company’s stock, valued at $677,086.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Pacira BioSciences news, Director Gary W. Pace sold 1,066 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total transaction of $31,628.22. Following the transaction, the director now owns 140,384 shares of the company’s stock, valued at $4,165,193.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gary W. Pace sold 90,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the transaction, the director now directly owns 22,127 shares in the company, valued at approximately $677,086.20. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

About Pacira BioSciences

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.