Principal Financial Group Inc. Purchases 9,543 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Principal Financial Group Inc. increased its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 267,276 shares of the company’s stock after buying an additional 9,543 shares during the quarter. Principal Financial Group Inc.’s holdings in Pacira BioSciences were worth $6,642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Sterling Capital Management LLC raised its stake in shares of Pacira BioSciences by 779.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,363 shares of the company’s stock worth $26,000 after buying an additional 1,208 shares during the period. Ancora Advisors LLC acquired a new stake in shares of Pacira BioSciences during the 4th quarter worth about $26,000. Wealthquest Corp acquired a new stake in shares of Pacira BioSciences during the 1st quarter worth about $59,000. PNC Financial Services Group Inc. raised its position in shares of Pacira BioSciences by 16.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company’s stock worth $68,000 after acquiring an additional 513 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Pacira BioSciences by 112.8% during the first quarter. GAMMA Investing LLC now owns 3,694 shares of the company’s stock worth $92,000 after buying an additional 1,958 shares during the period. 99.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Lauren Riker sold 5,578 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $26.21, for a total transaction of $146,199.38. Following the transaction, the senior vice president directly owned 59,564 shares of the company’s stock, valued at approximately $1,561,172.44. The trade was a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. HC Wainwright upped their target price on Pacira BioSciences from $48.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, April 8th. Wall Street Zen upgraded Pacira BioSciences from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Needham & Company LLC decreased their target price on Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.44.

Pacira BioSciences Price Performance

Shares of PCRX stock opened at $22.73 on Wednesday. Pacira BioSciences, Inc. has a 12 month low of $11.16 and a 12 month high of $27.64. The firm’s 50-day moving average is $24.71 and its two-hundred day moving average is $24.33. The company has a market capitalization of $1.05 billion, a PE ratio of -9.97 and a beta of 0.48. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.41 and a quick ratio of 1.99.

About Pacira BioSciences

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.