Balchem (NASDAQ:BCPC) PT Raised to $170.00 at HC Wainwright

Balchem (NASDAQ:BCPC - Free Report) had its price objective lifted by HC Wainwright from $167.00 to $170.00 in a research report report published on Monday, Benzinga reports. HC Wainwright currently has a buy rating on the basic materials company's stock.

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

Balchem Price Performance

Balchem stock traded up $2.92 during trading hours on Monday, hitting $153.32. 106,372 shares of the stock were exchanged, compared to its average volume of 104,972. Balchem has a 12 month low of $110.74 and a 12 month high of $159.52. The business's 50-day moving average is $151.02 and its two-hundred day moving average is $140.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.61. The stock has a market capitalization of $4.97 billion, a P/E ratio of 43.31, a P/E/G ratio of 3.33 and a beta of 0.72.

Balchem (NASDAQ:BCPC - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $228.70 million during the quarter, compared to analysts' expectations of $234.66 million. Balchem had a return on equity of 11.03% and a net margin of 12.35%. The business's revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. Equities research analysts expect that Balchem will post 4.1 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Balchem

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC raised its position in shares of Balchem by 0.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 14,532 shares of the basic materials company's stock valued at $1,803,000 after acquiring an additional 104 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Balchem by 5.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,935 shares of the basic materials company's stock valued at $984,000 after buying an additional 386 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Balchem by 6.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,684 shares of the basic materials company's stock valued at $3,186,000 after buying an additional 1,515 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Balchem by 16.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,661 shares of the basic materials company's stock valued at $826,000 after buying an additional 931 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Balchem by 1.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,244 shares of the basic materials company's stock worth $1,767,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 87.91% of the company's stock.

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.