Strs Ohio Buys New Stake in biote Corp. $BTMD

Key Points

• Strs Ohio has purchased a new stake in biote Corp. (NASDAQ: BTMD), acquiring 93,800 shares valued at approximately $312,000.
• Biote Corp.'s stock has shown significant volatility with a 1-year low of $2.76 and a high of $6.98, and it currently has a market cap of $152.77 million.
• Recent analyst reports have highlighted a downgrade of biote Corp.'s shares from a "buy" rating to "neutral," with a revised target price of $4.00.

Strs Ohio purchased a new stake in biote Corp. (NASDAQ:BTMD - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 93,800 shares of the company's stock, valued at approximately $312,000. Strs Ohio owned approximately 0.17% of biote at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC purchased a new stake in shares of biote in the first quarter worth about $43,000. AQR Capital Management LLC acquired a new position in biote during the 1st quarter worth approximately $43,000. Virtu Financial LLC purchased a new position in biote in the 1st quarter worth approximately $62,000. Public Employees Retirement System of Ohio acquired a new stake in biote in the fourth quarter valued at approximately $69,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of biote during the first quarter valued at approximately $76,000. Institutional investors and hedge funds own 21.68% of the company's stock.

biote Stock Performance

Shares of NASDAQ BTMD opened at $3.09 on Wednesday. biote Corp. has a 1 year low of $2.76 and a 1 year high of $6.98. The firm has a market cap of $152.77 million, a P/E ratio of 3.43 and a beta of 1.19. The stock has a fifty day moving average price of $3.52 and a two-hundred day moving average price of $3.67.

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

Wall Street Analyst Weigh In

BTMD has been the subject of several analyst reports. B. Riley downgraded shares of biote from a "buy" rating to a "neutral" rating and decreased their target price for the company from $8.00 to $4.00 in a research note on Thursday, August 7th. Wall Street Zen cut shares of biote from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $6.00.

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.

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