Balchem (NASDAQ:BCPC) PT Raised to $170.00

Balchem (NASDAQ:BCPC) had its target price increased by HC Wainwright from $167.00 to $170.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the basic materials company’s stock. HC Wainwright also issued estimates for Balchem’s Q2 2024 earnings at $0.90 EPS, Q3 2024 earnings at $0.94 EPS, Q4 2024 earnings at $0.98 EPS, FY2024 earnings at $3.71 EPS, Q1 2025 earnings at $1.00 EPS, Q2 2025 earnings at $1.04 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.12 EPS and FY2025 earnings at $4.23 EPS.

Separately, StockNews.com downgraded Balchem from a buy rating to a hold rating in a research note on Thursday, April 25th.

Balchem Trading Up 1.1 %

BCPC opened at $155.02 on Monday. The company has a quick ratio of 1.72, a current ratio of 2.61 and a debt-to-equity ratio of 0.31. Balchem has a 52 week low of $110.74 and a 52 week high of $159.52. The stock’s fifty day moving average is $150.94 and its two-hundred day moving average is $141.39. The company has a market capitalization of $5.03 billion, a P/E ratio of 43.79, a PEG ratio of 3.33 and a beta of 0.72.

Balchem (NASDAQ:BCPC) last issued its quarterly earnings data on Friday, February 16th. The basic materials company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $228.70 million for the quarter, compared to the consensus estimate of $234.66 million. Balchem had a return on equity of 11.03% and a net margin of 12.35%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. Analysts forecast that Balchem will post 4.1 earnings per share for the current year.

Insider Transactions at Balchem

In related news, CAO William A. Backus sold 7,000 shares of Balchem stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $155.19, for a total value of $1,086,330.00. Following the completion of the transaction, the chief accounting officer now owns 5,914 shares in the company, valued at approximately $917,793.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Balchem news, CAO William A. Backus sold 9,180 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $156.37, for a total value of $1,435,476.60. Following the completion of the sale, the chief accounting officer now owns 12,914 shares in the company, valued at approximately $2,019,362.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO William A. Backus sold 7,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $155.19, for a total value of $1,086,330.00. Following the transaction, the chief accounting officer now directly owns 5,914 shares in the company, valued at approximately $917,793.66. The disclosure for this sale can be found here. Insiders have sold 76,630 shares of company stock valued at $11,843,249 in the last 90 days. 1.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Balchem

A number of institutional investors have recently bought and sold shares of BCPC. Heritage Wealth Management LLC purchased a new stake in shares of Balchem in the 4th quarter valued at $226,000. DekaBank Deutsche Girozentrale increased its stake in shares of Balchem by 71.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 51,300 shares of the basic materials company’s stock worth $7,662,000 after acquiring an additional 21,300 shares during the period. Sei Investments Co. raised its position in Balchem by 7.0% in the third quarter. Sei Investments Co. now owns 121,530 shares of the basic materials company’s stock worth $15,075,000 after acquiring an additional 7,973 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Balchem during the third quarter worth $465,000. Finally, Congress Asset Management Co. MA lifted its holdings in shares of Balchem by 32.5% in the third quarter. Congress Asset Management Co. MA now owns 225,303 shares of the basic materials company’s stock valued at $27,947,000 after purchasing an additional 55,203 shares in the last quarter. 87.91% of the stock is owned by hedge funds and other institutional investors.

About Balchem

Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition, and industrial markets worldwide. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.