Scout Investments Inc. Sells 8,764 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Scout Investments Inc. cut its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,581 shares of the company’s stock after selling 8,764 shares during the quarter. Scout Investments Inc. owned 0.30% of Pacira BioSciences worth $4,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PCRX. ICA Group Wealth Management LLC bought a new stake in shares of Pacira BioSciences in the fourth quarter worth approximately $30,000. Quadrant Capital Group LLC grew its position in Pacira BioSciences by 61.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after buying an additional 885 shares during the period. Cape Investment Advisory Inc. bought a new stake in Pacira BioSciences during the fourth quarter valued at approximately $97,000. SG Americas Securities LLC bought a new stake in Pacira BioSciences during the first quarter valued at approximately $106,000. Finally, Quest Partners LLC bought a new stake in Pacira BioSciences during the fourth quarter valued at approximately $125,000. 99.73% of the stock is currently owned by institutional investors.

Pacira BioSciences Price Performance

Shares of PCRX stock traded down $0.65 during mid-day trading on Friday, hitting $19.57. The company had a trading volume of 735,425 shares, compared to its average volume of 742,192. Pacira BioSciences, Inc. has a 52-week low of $19.44 and a 52-week high of $40.16. The stock’s 50 day moving average price is $27.28 and its 200-day moving average price is $28.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.81 and a quick ratio of 4.78. The company has a market capitalization of $910.91 million, a P/E ratio of 13.89 and a beta of 0.88.

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

Insider Buying and Selling

In related news, COO Daryl Gaugler sold 1,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $28,380.00. Following the sale, the chief operating officer now owns 116,040 shares in the company, valued at $3,293,215.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Daryl Gaugler sold 1,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $28,380.00. Following the sale, the chief operating officer now owns 116,040 shares in the company, valued at $3,293,215.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Slonin sold 5,012 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $28.57, for a total transaction of $143,192.84. Following the completion of the sale, the insider now owns 44,569 shares in the company, valued at approximately $1,273,336.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,150 shares of company stock worth $602,170. Insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PCRX. Needham & Company LLC restated a “buy” rating and set a $43.00 target price on shares of Pacira BioSciences in a research report on Tuesday, July 2nd. Barclays downgraded shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $38.00 to $25.00 in a report on Wednesday, July 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $42.00 price target on shares of Pacira BioSciences in a report on Wednesday, July 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $57.00 price target on shares of Pacira BioSciences in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Pacira BioSciences has a consensus rating of “Moderate Buy” and a consensus target price of $46.10.

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.