Nuveen LLC Invests $872,000 in biote Corp. $BTMD

Key Points

• Nuveen LLC announced a new investment in biote Corp., purchasing 261,841 shares valued at approximately $872,000 during the first quarter.
• Wall Street analysts have downgraded biote's stock ratings, with B. Riley reducing its price target from $8.00 to $4.00, reflecting a more cautious outlook.
• biote Corp. reported earnings per share of $0.10 for the last quarter, exceeding expectations, although revenue fell short of forecasts at $48.86 million.

Nuveen LLC acquired a new stake in biote Corp. (NASDAQ:BTMD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 261,841 shares of the company's stock, valued at approximately $872,000. Nuveen LLC owned approximately 0.48% of biote as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in shares of biote by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 681,524 shares of the company's stock valued at $4,211,000 after acquiring an additional 3,065 shares in the last quarter. Northern Trust Corp lifted its position in shares of biote by 9.9% in the fourth quarter. Northern Trust Corp now owns 288,336 shares of the company's stock valued at $1,782,000 after acquiring an additional 25,873 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of biote in the fourth quarter valued at $414,000. Bank of America Corp DE increased its stake in biote by 18.2% in the fourth quarter. Bank of America Corp DE now owns 55,883 shares of the company's stock valued at $345,000 after purchasing an additional 8,608 shares during the last quarter. Finally, Corton Capital Inc. acquired a new position in biote in the fourth quarter valued at $275,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on BTMD shares. B. Riley lowered biote from a "buy" rating to a "neutral" rating and dropped their target price for the company from $8.00 to $4.00 in a research note on Thursday, August 7th. Wall Street Zen lowered biote from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, biote currently has an average rating of "Moderate Buy" and a consensus target price of $6.00.

biote Trading Up 2.1%

NASDAQ:BTMD traded up $0.07 on Friday, hitting $3.46. 144,633 shares of the stock were exchanged, compared to its average volume of 195,954. The stock has a market cap of $171.06 million, a PE ratio of 3.84 and a beta of 1.19. The stock has a fifty day moving average of $3.71 and a 200-day moving average of $3.77. biote Corp. has a fifty-two week low of $2.76 and a fifty-two week high of $6.98.

biote (NASDAQ:BTMD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.04. biote had a negative return on equity of 21.00% and a net margin of 15.73%.The firm had revenue of $48.86 million during the quarter, compared to the consensus estimate of $49.52 million. As a group, analysts predict that biote Corp. will post 0.75 earnings per share for the current year.

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.