Q1 2024 EPS Estimates for Balchem Co. Cut by Analyst (NASDAQ:BCPC)

Balchem Co. (NASDAQ:BCPC) – Investment analysts at Sidoti Csr reduced their Q1 2024 earnings estimates for shares of Balchem in a note issued to investors on Wednesday, April 24th. Sidoti Csr analyst K. May now expects that the basic materials company will post earnings per share of $0.98 for the quarter, down from their previous forecast of $1.00. The consensus estimate for Balchem’s current full-year earnings is $4.14 per share. Sidoti Csr also issued estimates for Balchem’s Q2 2024 earnings at $1.00 EPS, Q3 2024 earnings at $1.06 EPS, Q4 2024 earnings at $1.06 EPS, FY2024 earnings at $4.10 EPS, Q1 2025 earnings at $1.09 EPS, Q2 2025 earnings at $1.12 EPS, Q3 2025 earnings at $1.19 EPS, Q4 2025 earnings at $1.18 EPS and FY2025 earnings at $4.59 EPS.

Separately, StockNews.com cut shares of Balchem from a “buy” rating to a “hold” rating in a research note on Thursday.

Balchem Stock Performance

BCPC opened at $138.50 on Friday. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 4.25 and a beta of 0.71. The company has a fifty day moving average of $152.40 and a 200 day moving average of $139.85. Balchem has a fifty-two week low of $110.74 and a fifty-two week high of $159.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.38 and a current ratio of 2.12.

Balchem (NASDAQ:BCPC) last announced its quarterly earnings data on Friday, February 16th. The basic materials company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. The firm had revenue of $228.70 million for the quarter, compared to the consensus estimate of $234.66 million. Balchem had a net margin of 11.77% and a return on equity of 10.69%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS.

Insiders Place Their Bets

In other Balchem news, CAO William A. Backus sold 15,000 shares of Balchem stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 12,914 shares of the company’s stock, valued at approximately $1,998,183.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Balchem news, CAO William A. Backus sold 7,000 shares of Balchem stock in a transaction on Monday, February 26th. The shares were sold at an average price of $155.19, for a total value of $1,086,330.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,914 shares of the company’s stock, valued at approximately $917,793.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William A. Backus sold 15,000 shares of Balchem stock in a transaction 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 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 sold 76,630 shares of company stock valued at $11,843,249 in the last three months. Corporate insiders own 1.77% of the company’s stock.

Hedge Funds Weigh In On Balchem

A number of large investors have recently made changes to their positions in BCPC. Wendell David Associates Inc. boosted its stake in shares of Balchem by 0.7% during the 3rd quarter. Wendell David Associates Inc. now owns 21,977 shares of the basic materials company’s stock worth $2,726,000 after purchasing an additional 150 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Balchem by 0.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 14,532 shares of the basic materials company’s stock worth $1,803,000 after purchasing an additional 104 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Balchem by 5.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,935 shares of the basic materials company’s stock worth $984,000 after purchasing an additional 386 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Balchem by 6.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,684 shares of the basic materials company’s stock worth $3,186,000 after purchasing an additional 1,515 shares during the period. Finally, Argent Capital Management LLC purchased a new position in shares of Balchem during the 3rd quarter worth about $227,000. 87.91% of the stock is owned by hedge funds and other 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.