Key Points
- Chairman Marc Beer bought 115,950 biote shares at an average price of $1.53, increasing his stake by 107.57% to 223,744 shares.
- BTMD shares were trading down 7.8% at $1.42, while the company reported a quarterly loss of $0.23 per share and revenue of $44.23 million, missing analyst expectations for both earnings and sales.
- Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $2.50; institutional investors own 21.68% of the stock.
biote Corp. (NASDAQ:BTMD - Get Free Report) Chairman Marc Beer acquired 16,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were acquired at an average price of $1.55 per share, for a total transaction of $24,800.00. Following the acquisition, the chairman owned 239,744 shares of the company's stock, valued at approximately $371,603.20. The trade was a 7.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
biote Price Performance
Shares of NASDAQ BTMD opened at $1.42 on Thursday. The stock has a market capitalization of $53.37 million, a P/E ratio of 12.91 and a beta of 1.64. The company has a 50-day moving average price of $2.16 and a 200-day moving average price of $2.02. biote Corp. has a 1 year low of $1.27 and a 1 year high of $3.62.
biote (NASDAQ:BTMD - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.26). biote had a negative return on equity of 22.69% and a net margin of 3.19%.The business had revenue of $44.23 million for the quarter, compared to the consensus estimate of $46.12 million. As a group, equities research analysts anticipate that biote Corp. will post 0.03 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the company. Truist Financial raised biote to a "strong-buy" rating in a research report on Monday, June 15th. B. Riley Financial cut their price objective on shares of biote from $2.00 to $1.50 and set a "neutral" rating on the stock in a report on Monday. TD Cowen lowered their target price on shares of biote from $2.50 to $2.00 and set a "buy" rating for the company in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of biote from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $2.50.
Read Our Latest Report on BTMD
Institutional Trading of biote
A number of institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new stake in biote during the first quarter worth $76,000. AQR Capital Management LLC bought a new position in biote in the 1st quarter valued at $43,000. Geode Capital Management LLC increased its position in shares of biote by 7.2% during the 2nd quarter. Geode Capital Management LLC now owns 616,697 shares of the company's stock valued at $2,480,000 after purchasing an additional 41,333 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of biote during the 2nd quarter valued at $68,000. Finally, First Trust Advisors LP raised its stake in shares of biote by 5.3% during the 2nd quarter. First Trust Advisors LP now owns 73,669 shares of the company's stock worth $296,000 after purchasing an additional 3,675 shares during the period. 21.68% of the stock is owned by hedge funds and other institutional investors.
biote Company Profile
(
Get Free Report)
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.
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