Balchem (NASDAQ:BCPC) Shares Gap Up – Here’s Why

Balchem Co. (NASDAQ:BCPC) gapped up before the market opened on Friday . The stock had previously closed at $166.16, but opened at $182.13. Balchem shares last traded at $177.09, with a volume of 10,209 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BCPC. StockNews.com cut shares of Balchem from a “buy” rating to a “hold” rating in a report on Monday, July 29th. HC Wainwright upped their price target on Balchem from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st.

Balchem Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.83 and a quick ratio of 1.79. The business has a 50 day moving average price of $171.68 and a 200 day moving average price of $162.31. The stock has a market capitalization of $5.56 billion, a PE ratio of 48.44, a PEG ratio of 5.43 and a beta of 0.65.

Balchem (NASDAQ:BCPC) last announced its quarterly earnings data on Friday, October 25th. The basic materials company reported $1.03 EPS for the quarter, meeting the consensus estimate of $1.03. The company had revenue of $239.94 million for the quarter, compared to the consensus estimate of $243.05 million. Balchem had a net margin of 12.52% and a return on equity of 10.94%. As a group, equities research analysts expect that Balchem Co. will post 3.96 earnings per share for the current year.

Insiders Place Their Bets

In other Balchem news, SVP Gunsteren Job Leonard Van sold 7,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $180.05, for a total transaction of $1,395,387.50. Following the sale, the senior vice president now owns 8,540 shares in the company, valued at approximately $1,537,627. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.25% of the company’s stock.

Institutional Investors Weigh In On Balchem

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in Balchem by 21.8% during 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 purchasing an additional 6,652 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Balchem by 21.3% during the 1st quarter. Janus Henderson Group PLC now owns 18,059 shares of the basic materials company’s stock valued at $2,795,000 after acquiring an additional 3,176 shares during the period. Quantbot Technologies LP bought a new position in shares of Balchem in the first quarter worth about $495,000. William Blair Investment Management LLC raised its stake in shares of Balchem by 8.4% during the second quarter. William Blair Investment Management LLC now owns 233,831 shares of the basic materials company’s stock valued at $35,998,000 after acquiring an additional 18,104 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Balchem by 22.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,582 shares of the basic materials company’s stock valued at $3,169,000 after purchasing an additional 3,732 shares in the last quarter. 87.91% of the stock is owned by institutional investors.

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.