Balchem (NASDAQ:BCPC) Price Target Raised to $170.00

Balchem (NASDAQ:BCPC) had its price objective increased by stock analysts at HC Wainwright from $167.00 to $170.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price target indicates a potential upside of 13.03% from the company’s previous close.

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

Balchem Stock Performance

Shares of BCPC stock opened at $150.40 on Monday. The company has a 50 day moving average price of $151.02 and a 200-day moving average price of $140.77. Balchem has a 52 week low of $110.74 and a 52 week high of $159.52. The firm has a market capitalization of $4.88 billion, a PE ratio of 42.49, a P/E/G ratio of 3.33 and a beta of 0.72. 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 (NASDAQ:BCPC) last announced its earnings results on Friday, February 16th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.02. The company had revenue of $228.70 million during the quarter, compared to analyst estimates of $234.66 million. Balchem had a net margin of 12.35% and a return on equity of 11.03%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, equities research analysts expect that Balchem will post 4.1 earnings per share for the current year.

Insider Buying and Selling at Balchem

In other Balchem news, SVP Michael Robert Sestrick sold 11,100 shares of Balchem stock in a transaction that occurred on 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 of the company’s stock, valued at $1,032,022.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Balchem news, SVP Michael Robert Sestrick sold 11,100 shares of the 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 completion of the sale, the senior vice president now directly owns 6,736 shares of the company’s stock, valued at $1,032,022.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO William A. Backus sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $154.73, for a total transaction of $2,320,950.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,914 shares of the company’s stock, valued at $1,998,183.22. The disclosure for this sale can be found here. Insiders have sold 76,630 shares of company stock valued at $11,843,249 over the last 90 days. 1.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Balchem

Several institutional investors have recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its holdings in shares of Balchem by 100.0% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,800 shares of the basic materials company’s stock valued at $744,000 after purchasing an additional 2,400 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Balchem by 53.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,977 shares of the basic materials company’s stock worth $461,000 after purchasing an additional 1,038 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Balchem by 21.8% in the first quarter. BNP Paribas Financial Markets now owns 37,117 shares of the basic materials company’s stock valued at $5,751,000 after buying an additional 6,652 shares during the last quarter. Norden Group LLC acquired a new stake in Balchem in the 1st quarter valued at about $430,000. Finally, Argent Capital Management LLC lifted its position in Balchem by 14.7% in the first quarter. Argent Capital Management LLC now owns 2,245 shares of the basic materials company’s stock valued at $348,000 after buying an additional 288 shares during 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.