biote (NASDAQ:BTMD) Shares Up 0.4% - Time to Buy?

Key Points

• biote shares edged up 0.4% on Wednesday, trading around $2.26 after touching an intraday high of $2.28. Volume was lighter than usual, with about 142,208 shares traded versus an average of 403,010.
• Analyst sentiment is mixed but slightly positive, with a consensus rating of “Moderate Buy” and a consensus price target of $2.75. Recent moves included TD Cowen cutting its target to $2.50 while Truist Financial upgraded the stock to “strong-buy.”
• Recent fundamentals were soft: biote reported Q1 earnings of $0.06 per share, below expectations of $0.09, and revenue of $44.94 million versus the $46.02 million estimate. Analysts still expect the company to earn $0.36 per share for the full year.

biote Corp. (NASDAQ:BTMD - Get Free Report)'s share price traded up 0.4% during trading on Wednesday . The company traded as high as $2.28 and last traded at $2.26. Approximately 142,208 shares were traded during mid-day trading, a decline of 65% from the average session volume of 403,010 shares. The stock had previously closed at $2.25.

Analysts Set New Price Targets

A number of brokerages have weighed in on BTMD. TD Cowen decreased their target price on biote from $3.00 to $2.50 and set a "buy" rating for the company in a research report on Thursday, March 12th. Weiss Ratings upgraded shares of biote from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 28th. National Bank Financial set a $2.50 price objective on shares of biote in a report on Thursday, March 12th. B. Riley Financial lowered their price objective on shares of biote from $3.00 to $2.00 and set a "neutral" rating on the stock in a research report on Thursday, March 12th. Finally, Truist Financial raised shares of biote to a "strong-buy" rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $2.75.

biote Stock Up 0.4%

The stock's 50 day moving average price is $2.13 and its 200-day moving average price is $2.09. The stock has a market capitalization of $84.93 million, a PE ratio of 5.14 and a beta of 1.66.

biote (NASDAQ:BTMD - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). biote had a negative return on equity of 25.72% and a net margin of 8.29%.The business had revenue of $44.94 million for the quarter, compared to analysts' expectations of $46.02 million. On average, analysts forecast that biote Corp. will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in shares of biote in the 1st quarter worth $76,000. AQR Capital Management LLC purchased a new position in shares of biote in the 1st quarter worth approximately $43,000. Geode Capital Management LLC increased its position in shares of biote by 7.2% during the 2nd quarter. Geode Capital Management LLC now owns 616,697 shares of the company's stock valued at $2,480,000 after purchasing an additional 41,333 shares during the last quarter. XTX Topco Ltd purchased a new stake in biote during the 2nd quarter valued at $68,000. Finally, First Trust Advisors LP lifted its position in biote by 5.3% in the second quarter. First Trust Advisors LP now owns 73,669 shares of the company's stock worth $296,000 after buying an additional 3,675 shares during the last quarter. 21.68% of the stock is 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.

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