DOMA Perpetual Sends Letter To Board of Directors Of Pacira Biosciences To Immediately Accelerate And Increase Its Share Buyback Program To Enhance Return To Shareholders; Believes Pacira's Cash Balance Of $400M, Roughly 59% of its Market Capitalization, is Grossly Inefficient
Portfolio Pulse from Benzinga Newsdesk
DOMA Perpetual Capital Management has urged Pacira Biosciences to accelerate and increase its share buyback program, citing the company's $400 million cash balance as inefficient. They believe the current stock price presents an opportunity for significant shareholder returns.
September 25, 2024 | 12:17 pm
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DOMA Perpetual Capital Management has called on Pacira Biosciences to enhance its share buyback program, arguing that the company's $400 million cash balance is inefficient and that the current stock price offers a significant opportunity for shareholder returns.
The call for an increased share buyback program suggests a potential positive impact on Pacira's stock price as buybacks can reduce the number of shares outstanding, potentially increasing earnings per share and stock value. The emphasis on the inefficiency of the cash balance and the opportunity presented by the current stock price further supports a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100