Millennium Management LLC Takes $414,000 Position in biote Corp. (NASDAQ:BTMD)

Millennium Management LLC acquired a new position in shares of biote Corp. (NASDAQ:BTMD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 67,007 shares of the company's stock, valued at approximately $414,000. Millennium Management LLC owned 0.12% of biote as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in biote by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 681,524 shares of the company's stock worth $4,211,000 after purchasing an additional 3,065 shares during the last quarter. Northern Trust Corp boosted its stake in shares of biote by 9.9% during the 4th quarter. Northern Trust Corp now owns 288,336 shares of the company's stock worth $1,782,000 after buying an additional 25,873 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of biote in the 4th quarter valued at about $1,561,000. Renaissance Technologies LLC increased its position in shares of biote by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 178,994 shares of the company's stock valued at $1,106,000 after acquiring an additional 16,017 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in biote by 19.8% during the fourth quarter. Bank of New York Mellon Corp now owns 105,886 shares of the company's stock worth $654,000 after acquiring an additional 17,521 shares in the last quarter. 21.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Craig Hallum decreased their price target on biote from $12.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, March 13th.

biote Stock Performance

BTMD traded down $0.17 during trading on Friday, reaching $3.78. 75,269 shares of the stock were exchanged, compared to its average volume of 180,218. The stock's 50 day moving average price is $3.63 and its two-hundred day moving average price is $4.64. biote Corp. has a twelve month low of $3.04 and a twelve month high of $8.44. The stock has a market cap of $206.80 million, a P/E ratio of 14.54 and a beta of 1.16.

biote (NASDAQ:BTMD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. biote had a net margin of 5.20% and a negative return on equity of 32.41%. The company had revenue of $48.99 million for the quarter, compared to analyst estimates of $47.25 million. Equities research analysts predict that biote Corp. will post 0.75 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Stephen Mark Cone acquired 38,104 shares of the business's stock in a transaction on Monday, March 17th. The stock was purchased at an average cost of $3.88 per share, for a total transaction of $147,843.52. Following the completion of the transaction, the director now directly owns 160,829 shares of the company's stock, valued at approximately $624,016.52. The trade was a 31.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Guines Llc bought 436,037 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $3.26 per share, for a total transaction of $1,421,480.62. Following the transaction, the insider now directly owns 4,611,071 shares of the company's stock, valued at $15,032,091.46. The trade was a 10.44% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 662,080 shares of company stock valued at $2,183,190 over the last three months. Insiders own 24.00% 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.