biote (NASDAQ:BTMD) Chairman Marc Beer Purchases 16,000 Shares of Stock

biote Corp. (NASDAQ:BTMD) Chairman Marc Beer bought 16,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were purchased at an average cost of $1.55 per share, with a total value of $24,800.00. Following the purchase, the chairman directly owned 239,744 shares of the company’s stock, valued at $371,603.20. The trade was a 7.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

biote Stock Down 7.8%

BTMD stock opened at $1.42 on Thursday. The firm has a market cap of $53.37 million, a price-to-earnings ratio of 12.91 and a beta of 1.64. biote Corp. has a 12-month low of $1.27 and a 12-month high of $3.62. The company’s fifty day simple moving average is $2.16 and its 200 day simple moving average is $2.02.

biote (NASDAQ:BTMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.26). biote had a net margin of 3.19% and a negative return on equity of 22.69%. The firm had revenue of $44.23 million for the quarter, compared to the consensus estimate of $46.12 million. Research analysts expect that biote Corp. will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On biote

A number of institutional investors and hedge funds have recently made changes to their positions in BTMD. Geode Capital Management LLC grew its stake in shares of biote by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 620,256 shares of the company’s stock valued at $1,613,000 after buying an additional 8,016 shares during the period. State Street Corp raised its stake in biote by 17.3% during the 4th quarter. State Street Corp now owns 600,114 shares of the company’s stock worth $1,560,000 after buying an additional 88,402 shares during the period. Renaissance Technologies LLC boosted its holdings in biote by 30.6% in the first quarter. Renaissance Technologies LLC now owns 265,916 shares of the company’s stock worth $359,000 after acquiring an additional 62,322 shares in the last quarter. Rice Hall James & Associates LLC boosted its holdings in biote by 3.8% in the first quarter. Rice Hall James & Associates LLC now owns 250,019 shares of the company’s stock worth $338,000 after acquiring an additional 9,190 shares in the last quarter. Finally, Strs Ohio grew its stake in biote by 50.9% in the fourth quarter. Strs Ohio now owns 166,300 shares of the company’s stock valued at $432,000 after acquiring an additional 56,100 shares during the period. Institutional investors own 21.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BTMD. TD Cowen decreased their target price on biote from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Truist Financial upgraded biote to a “strong-buy” rating in a report on Monday, June 15th. B. Riley Financial reduced their price objective on shares of biote from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Monday. 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 issued a Sell rating to the stock. Based on data from MarketBeat, biote has an average rating of “Moderate Buy” and a consensus price target of $2.50.

About biote

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.