Balchem Co. (NASDAQ:BCPC) Forecasted to Post Q2 2024 Earnings of $0.90 Per Share

Balchem Co. (NASDAQ:BCPC - Free Report) - Research analysts at HC Wainwright issued their Q2 2024 earnings per share estimates for Balchem in a note issued to investors on Monday, May 6th. HC Wainwright analyst R. Selvaraju forecasts that the basic materials company will post earnings of $0.90 per share for the quarter. HC Wainwright currently has a "Buy" rating and a $170.00 target price on the stock. The consensus estimate for Balchem's current full-year earnings is $4.10 per share. HC Wainwright also issued estimates for Balchem's 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, Q3 2025 earnings at $1.08 EPS and FY2025 earnings at $4.23 EPS.

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

Balchem Price Performance

BCPC stock traded up $1.74 during mid-day trading on Thursday, hitting $155.02. 78,646 shares of the stock were exchanged, compared to its average volume of 104,535. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.61 and a quick ratio of 1.72. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 3.33 and a beta of 0.72. The business has a fifty day moving average price of $150.98 and a 200 day moving average price of $141.30. Balchem has a 12 month low of $110.74 and a 12 month high of $159.52.

Balchem (NASDAQ:BCPC - Get Free Report) last announced its earnings results on Friday, February 16th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.02. The business had revenue of $228.70 million for the quarter, compared to analyst estimates of $234.66 million. Balchem had a return on equity of 11.03% and a net margin of 12.35%. The company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC grew its stake in Balchem by 123.0% in the fourth quarter. Signaturefd LLC now owns 165 shares of the basic materials company's stock worth $25,000 after purchasing an additional 91 shares during the period. Principal Securities Inc. bought a new position in shares of Balchem in the 4th quarter worth about $28,000. Operose Advisors LLC purchased a new position in Balchem during the 3rd quarter valued at about $31,000. GAMMA Investing LLC bought a new stake in Balchem during the fourth quarter worth about $56,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of Balchem during the first quarter valued at approximately $69,000. Hedge funds and other institutional investors own 87.91% of the company's stock.

Insider Transactions at Balchem

In related news, SVP Michael Robert Sestrick sold 11,100 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $153.21, for a total transaction of $1,700,631.00. Following the transaction, the senior vice president now directly owns 6,736 shares in the company, valued at approximately $1,032,022.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO William A. Backus sold 15,000 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $154.73, for a total value of $2,320,950.00. Following the completion of the sale, the chief accounting officer now directly owns 12,914 shares of the company's stock, valued at approximately $1,998,183.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael Robert Sestrick sold 11,100 shares of the business's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $153.21, for a total transaction of $1,700,631.00. Following the transaction, the senior vice president now owns 6,736 shares in the company, valued at approximately $1,032,022.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,630 shares of company stock worth $11,843,249. Company insiders own 1.77% of the company's stock.

Balchem Company Profile

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.