Insider Buying: biote (NASDAQ:BTMD) Chairman Purchases $177,403.50 in Stock

Key Points

• Insider purchase: biote Chairman Marc Beer bought 115,950 shares at an average price of $1.53, investing $177,403.50 and more than doubling his direct ownership to 223,744 shares.
• Shares under pressure: BTMD fell 7.8% to $1.42 and remains near its 12-month low after the company reported a quarterly EPS loss of $0.23, well below the $0.03 analyst consensus, and revenue below expectations.
• Analyst outlook: Despite mixed ratings and recent price-target reductions, analysts maintain a consensus “Moderate Buy” rating with an average price target of $2.50, substantially above the current share price.

biote Corp. (NASDAQ:BTMD - Get Free Report) Chairman Marc Beer purchased 115,950 shares of biote stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $1.53 per share, for a total transaction of $177,403.50. Following the acquisition, the chairman directly owned 223,744 shares of the company's stock, valued at approximately $342,328.32. This represents a 107.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

biote Trading Down 7.8%

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

biote (NASDAQ:BTMD - Get Free Report) last posted its 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 company had revenue of $44.23 million during 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%. On average, equities analysts expect that biote Corp. will post 0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on BTMD. Weiss Ratings upgraded 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 note on Monday, June 15th. B. Riley Financial lowered their price target on shares of biote from $2.00 to $1.50 and set a "neutral" rating for the company in a report on Monday. Finally, TD Cowen cut their price target on biote from $2.50 to $2.00 and set a "buy" rating for the company in a report 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 assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BTMD. LPL Financial LLC purchased a new position in shares of biote during the 4th quarter worth about $32,000. Quadrature Capital Ltd purchased a new stake in biote in the fourth quarter valued at approximately $38,000. Abel Hall LLC grew its holdings in biote by 60.3% in the first quarter. Abel Hall LLC now owns 27,921 shares of the company's stock valued at $38,000 after purchasing an additional 10,507 shares during the period. Marshall Wace LLP acquired a new position in biote during the fourth quarter worth approximately $40,000. Finally, Millennium Management LLC acquired a new position in biote during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 21.68% 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.

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