biote (NASDAQ:BTMD) Shares Up 0.5% – What’s Next?

Shares of biote Corp. (NASDAQ:BTMD) traded up 0.5% during mid-day trading on Friday . The company traded as high as $4.22 and last traded at $4.21. 25,438 shares traded hands during trading, a decline of 85% from the average session volume of 174,350 shares. The stock had previously closed at $4.19.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum dropped their price objective on shares of biote from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 13th.

biote Stock Performance

The company has a 50-day moving average price of $3.83 and a 200-day moving average price of $4.36. The company has a market capitalization of $230.33 million, a price-to-earnings ratio of 6.90 and a beta of 1.21.

biote (NASDAQ:BTMD) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. biote had a net margin of 10.93% and a negative return on equity of 19.44%. The firm had revenue of $48.99 million for the quarter, compared to analyst estimates of $47.25 million. As a group, sell-side analysts anticipate that biote Corp. will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Guines Llc bought 436,037 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $3.26 per share, for a total transaction of $1,421,480.62. Following the completion of the acquisition, the insider owned 4,611,071 shares in the company, valued at approximately $15,032,091.46. This represents a 10.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders purchased 510,555 shares of company stock worth $1,659,333 over the last ninety days. Corporate insiders own 24.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BTMD. Dimensional Fund Advisors LP increased its position in biote by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 681,524 shares of the company’s stock worth $4,211,000 after acquiring an additional 3,065 shares during the period. Ameriprise Financial Inc. raised its position in shares of biote by 10.2% in the fourth quarter. Ameriprise Financial Inc. now owns 36,214 shares of the company’s stock valued at $224,000 after buying an additional 3,351 shares in the last quarter. Rhumbline Advisers raised its position in shares of biote by 11.6% in the fourth quarter. Rhumbline Advisers now owns 37,688 shares of the company’s stock valued at $233,000 after buying an additional 3,920 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of biote by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 12,742 shares of the company’s stock valued at $79,000 after buying an additional 4,243 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in biote by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 75,738 shares of the company’s stock worth $468,000 after acquiring an additional 5,215 shares during the period. 21.68% of the stock is owned by institutional investors and hedge funds.

biote Company Profile

biote Corp. operates in practice-building business within the hormone optimization space. It trains physicians and nurse practitioners in hormone optimization using bioidentical hormone replacement pellet therapy in men and women experiencing hormonal imbalance. The company offers Biote Method, a comprehensive end-to-end practice building platform that provides Biote-certified practitioners with the components developed for practitioners in the hormone optimization space comprising Biote Method education, training, and certification services; practice management software that allows Biote-certified practitioners to order, track, and manage hormone optimization product inventory and other administrative requirements; inventory management software to monitor pellet inventory; and information regarding available hormone replacement therapy products, as well as digital and point-of-care marketing support.