biote (NASDAQ:BTMD) Upgraded by Truist Financial to Strong-Buy Rating

Truist Financial upgraded shares of biote (NASDAQ:BTMD) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. National Bank Financial set a $2.50 price objective on biote in a research report on Thursday, March 12th. B. Riley Financial decreased their target price on biote from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Weiss Ratings upgraded biote from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Finally, TD Cowen reduced their price objective on biote from $3.00 to $2.50 and set a “buy” rating for the company in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, biote has an average rating of “Moderate Buy” and an average target price of $2.75.

biote Trading Down 8.5%

NASDAQ BTMD opened at $2.25 on Monday. biote has a 1-year low of $1.27 and a 1-year high of $4.75. The firm’s fifty day simple moving average is $2.07 and its 200-day simple moving average is $2.15. The company has a market capitalization of $84.56 million, a PE ratio of 5.11 and a beta of 1.66.

biote (NASDAQ:BTMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $44.94 million for the quarter, compared to the consensus estimate of $46.02 million. biote had a net margin of 8.29% and a negative return on equity of 25.72%. As a group, analysts predict that biote will post 0.36 EPS for the current year.

Hedge Funds Weigh In On biote

Several hedge funds have recently added to or reduced their stakes in the company. Fisher Asset Management LLC acquired a new stake in biote in the third quarter worth about $30,000. LPL Financial LLC bought a new stake in biote during the 4th quarter worth about $32,000. Abel Hall LLC lifted its position in biote by 60.3% during the 1st quarter. Abel Hall LLC now owns 27,921 shares of the company’s stock valued at $38,000 after purchasing an additional 10,507 shares during the period. Quadrature Capital Ltd bought a new position in shares of biote in the 4th quarter valued at about $38,000. Finally, Marshall Wace LLP bought a new position in shares of biote in the 4th quarter valued at about $40,000. Institutional investors own 21.68% of the company’s stock.

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.