Insider Buying: biote (NASDAQ:BTMD) Chairman Acquires 115,950 Shares of Stock

biote Corp. (NASDAQ:BTMD) Chairman Marc Beer acquired 115,950 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $1.53 per share, with a total value of $177,403.50. Following the completion of the acquisition, the chairman owned 223,744 shares in the company, valued at approximately $342,328.32. The trade was a 107.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

biote Stock Performance

Shares of BTMD traded down $0.12 during trading hours on Wednesday, hitting $1.42. The stock had a trading volume of 184,971 shares, compared to its average volume of 249,798. biote Corp. has a 12-month low of $1.27 and a 12-month high of $3.62. The firm has a market cap of $53.36 million, a P/E ratio of 12.91 and a beta of 1.64. The company’s fifty day simple moving average is $2.18 and its 200 day simple moving average is $2.03.

biote (NASDAQ:BTMD) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.26). The firm had revenue of $44.23 million for the quarter, compared to analysts’ expectations of $46.12 million. biote had a net margin of 3.19% and a negative return on equity of 22.69%. As a group, sell-side analysts predict that biote Corp. will post 0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BTMD has been the subject of a number of research analyst reports. Weiss Ratings raised shares of biote from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Truist Financial raised shares of biote to a “strong-buy” rating in a research report on Monday, June 15th. B. Riley Financial decreased their price objective on shares of biote from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Monday. Finally, TD Cowen decreased their price objective on shares of biote from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Friday, August 7th. 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 company. Based on data from MarketBeat, biote has a consensus rating of “Moderate Buy” and a consensus price target of $2.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BTMD. First Trust Advisors LP boosted its holdings in biote by 5.3% in the 2nd quarter. First Trust Advisors LP now owns 73,669 shares of the company’s stock worth $296,000 after acquiring an additional 3,675 shares during the period. Man Group plc raised its stake in shares of biote by 9.9% during the third quarter. Man Group plc now owns 70,383 shares of the company’s stock valued at $211,000 after purchasing an additional 6,356 shares during the period. Geode Capital Management LLC raised its stake in shares of biote by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 620,256 shares of the company’s stock valued at $1,613,000 after purchasing an additional 8,016 shares during the period. Rice Hall James & Associates LLC lifted its position in shares of biote by 3.8% during the first quarter. Rice Hall James & Associates LLC now owns 250,019 shares of the company’s stock worth $338,000 after purchasing an additional 9,190 shares in the last quarter. Finally, Abel Hall LLC lifted 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. Institutional investors and hedge funds 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.