biote (NASDAQ:BTMD) Stock Rating Upgraded by Truist Financial

biote (NASDAQ:BTMD) was upgraded by equities researchers at Truist Financial to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other analysts have also issued reports on the company. TD Cowen cut their price target on biote from $3.00 to $2.50 and set a “buy” rating for the company in a report on Thursday, March 12th. Weiss Ratings raised biote from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. B. Riley Financial lowered their price objective on biote from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Finally, National Bank Financial set a $2.50 price objective on biote in a research note on Thursday, March 12th. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2.75.

biote Trading Down 8.5%

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 company has a market capitalization of $84.56 million, a PE ratio of 5.11 and a beta of 1.66. The firm’s 50 day simple moving average is $2.07 and its two-hundred day simple moving average is $2.15.

biote (NASDAQ:BTMD) last issued its quarterly earnings results 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 analysts’ expectations of $46.02 million. biote had a negative return on equity of 25.72% and a net margin of 8.29%. Equities analysts forecast that biote will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BTMD. Lazard Asset Management LLC raised its holdings in biote by 319.3% during the first quarter. Lazard Asset Management LLC now owns 48,943 shares of the company’s stock valued at $66,000 after acquiring an additional 37,270 shares during the period. Rice Hall James & Associates LLC boosted its stake in shares of 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 during the period. Renaissance Technologies LLC grew its position in shares of biote by 30.6% during the first quarter. Renaissance Technologies LLC now owns 265,916 shares of the company’s stock worth $359,000 after purchasing an additional 62,322 shares in the last quarter. Abel Hall LLC grew its position in shares of biote by 60.3% during the first quarter. Abel Hall LLC now owns 27,921 shares of the company’s stock worth $38,000 after purchasing an additional 10,507 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in biote during the 4th quarter valued at approximately $38,000. Institutional investors own 21.68% of the company’s stock.

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.