biote (NASDAQ:BTMD) Issues Earnings Results

biote (NASDAQ:BTMD) announced its quarterly earnings results on Wednesday. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01, FiscalAI reports. The business had revenue of $46.41 million for the quarter, compared to analyst estimates of $45.79 million. biote had a negative return on equity of 21.86% and a net margin of 14.72%.

biote Stock Performance

Shares of NASDAQ BTMD traded up $0.02 during trading on Wednesday, reaching $1.72. The stock had a trading volume of 228,260 shares, compared to its average volume of 168,190. The company has a market cap of $78.54 million, a P/E ratio of 2.18 and a beta of 1.14. biote has a fifty-two week low of $1.68 and a fifty-two week high of $4.75. The business’s 50-day moving average price is $2.21 and its 200-day moving average price is $2.66.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of biote in a research report on Monday, December 29th. Truist Financial set a $5.00 target price on shares of biote in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.67.

Hedge Funds Weigh In On biote

Hedge funds and other institutional investors have recently bought and sold shares of the company. LPL Financial LLC acquired a new position in biote in the 4th quarter valued at about $32,000. Quadrature Capital Ltd acquired a new stake in shares of biote during the fourth quarter worth about $38,000. Marshall Wace LLP purchased a new position in shares of biote in the fourth quarter valued at approximately $40,000. Millennium Management LLC acquired a new position in shares of biote in the fourth quarter valued at approximately $40,000. Finally, AQR Capital Management LLC acquired a new position in shares of biote in the first quarter valued at approximately $43,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

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.