HC Wainwright Weighs in on Balchem Co.’s Q2 2024 Earnings (NASDAQ:BCPC)

Balchem Co. (NASDAQ:BCPC) – Research analysts at HC Wainwright issued their Q2 2024 EPS estimates for shares of Balchem in a report issued on Monday, May 6th. HC Wainwright analyst R. Selvaraju forecasts that the basic materials company will earn $0.90 per share for the quarter. HC Wainwright has a “Buy” rating and a $170.00 price target 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 cut Balchem from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th.

Balchem Stock Performance

Balchem stock opened at $153.28 on Thursday. The stock has a market cap of $4.97 billion, a P/E ratio of 43.30, a price-to-earnings-growth ratio of 3.33 and a beta of 0.72. The company has a current ratio of 2.61, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $150.98 and a 200-day moving average of $141.30. Balchem has a 52 week low of $110.74 and a 52 week high of $159.52.

Balchem (NASDAQ:BCPC) last released its quarterly 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 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%. Balchem’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS.

Institutional Investors Weigh In On Balchem

Several large investors have recently added to or reduced their stakes in BCPC. Vanguard Group Inc. increased its holdings in shares of Balchem by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,791,512 shares of the basic materials company’s stock valued at $563,987,000 after purchasing an additional 30,868 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of Balchem by 3.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,125,384 shares of the basic materials company’s stock valued at $174,378,000 after purchasing an additional 42,172 shares during the period. Geneva Capital Management LLC increased its holdings in shares of Balchem by 0.5% during the fourth quarter. Geneva Capital Management LLC now owns 767,211 shares of the basic materials company’s stock valued at $114,123,000 after purchasing an additional 3,885 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Balchem by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 687,485 shares of the basic materials company’s stock valued at $102,265,000 after purchasing an additional 11,629 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of Balchem by 0.5% during the fourth quarter. Clearbridge Investments LLC now owns 521,590 shares of the basic materials company’s stock valued at $77,587,000 after purchasing an additional 2,801 shares during the period. 87.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Balchem

In related news, CAO William A. Backus sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $154.73, for a total transaction of $2,320,950.00. Following 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 accessible through this hyperlink. In other Balchem news, SVP Michael Robert Sestrick sold 11,100 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $153.21, for a total value of $1,700,631.00. Following the sale, the senior vice president now directly owns 6,736 shares of the company’s stock, valued at $1,032,022.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO William A. Backus sold 15,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was 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 in the company, valued at $1,998,183.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,630 shares of company stock valued at $11,843,249. Corporate 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.