biote Corp. (NASDAQ:BTMD) Forecasted to Earn Q3 2024 Earnings of $0.05 Per Share

biote Corp. (NASDAQ:BTMD - Free Report) - Research analysts at B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for shares of biote in a report issued on Thursday, May 9th. B. Riley analyst J. Van. Sinderen now expects that the company will post earnings of $0.05 per share for the quarter, down from their previous estimate of $0.09. B. Riley currently has a "Buy" rating and a $9.00 price target on the stock. The consensus estimate for biote's current full-year earnings is $0.39 per share. B. Riley also issued estimates for biote's Q4 2024 earnings at $0.08 EPS.

Other equities research analysts have also issued reports about the company. Truist Financial reduced their target price on biote from $10.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, January 18th. Jefferies Financial Group assumed coverage on shares of biote in a report on Thursday, February 1st. They set a "buy" rating and a $6.55 price objective for the company. Finally, Roth Mkm reiterated a "buy" rating and issued a $9.00 target price (up previously from $8.00) on shares of biote in a report on Wednesday, March 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, biote has an average rating of "Buy" and a consensus target price of $8.11.

biote Price Performance

Shares of NASDAQ:BTMD traded down $0.13 on Friday, reaching $6.12. The company had a trading volume of 119,264 shares, compared to its average volume of 68,236. The stock has a 50-day moving average price of $5.86 and a 200 day moving average price of $5.20. biote has a twelve month low of $3.65 and a twelve month high of $8.22.

biote (NASDAQ:BTMD - Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.06. The business had revenue of $45.70 million for the quarter, compared to the consensus estimate of $45.50 million. biote had a net margin of 1.79% and a negative return on equity of 45.10%.

Institutional Trading of biote

A number of hedge funds have recently bought and sold shares of BTMD. SG Americas Securities LLC bought a new stake in shares of biote during the fourth quarter valued at approximately $53,000. Bailard Inc. bought a new stake in biote in the 4th quarter valued at $96,000. Barclays PLC raised its stake in shares of biote by 768.1% in the 3rd quarter. Barclays PLC now owns 24,490 shares of the company's stock valued at $126,000 after buying an additional 21,669 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of biote during the 3rd quarter worth about $126,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of biote during the 3rd quarter valued at about $158,000. 21.68% of the stock is owned by 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.