Wasatch Advisors LP Reduces Stake in biote Corp. (NASDAQ:BTMD)

Wasatch Advisors LP cut its stake in biote Corp. (NASDAQ:BTMD) by 37.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 669,861 shares of the company’s stock after selling 402,920 shares during the quarter. Wasatch Advisors LP owned about 0.90% of biote worth $3,885,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BTMD. SG Americas Securities LLC acquired a new stake in biote during the fourth quarter worth about $53,000. Bailard Inc. acquired a new stake in shares of biote during the 4th quarter worth approximately $96,000. SW Investment Management LLC raised its position in shares of biote by 3.5% during the 4th quarter. SW Investment Management LLC now owns 675,000 shares of the company’s stock valued at $3,334,000 after buying an additional 22,651 shares during the period. Kent Lake Capital LLC lifted its holdings in biote by 0.8% in the third quarter. Kent Lake Capital LLC now owns 1,284,297 shares of the company’s stock valued at $6,576,000 after acquiring an additional 10,596 shares during the last quarter. Finally, Bandera Partners LLC grew its position in biote by 7.5% in the fourth quarter. Bandera Partners LLC now owns 1,832,732 shares of the company’s stock worth $9,054,000 after acquiring an additional 127,410 shares during the period. Hedge funds and other institutional investors own 21.68% of the company’s stock.

biote Price Performance

Shares of BTMD stock traded up $0.25 during trading hours on Tuesday, hitting $7.65. The company had a trading volume of 236,345 shares, compared to its average volume of 154,290. The stock has a market capitalization of $474.61 million, a PE ratio of 69.55 and a beta of 0.98. The company’s fifty day moving average is $6.33 and its 200 day moving average is $5.56. biote Corp. has a fifty-two week low of $3.65 and a fifty-two week high of $8.22.

biote (NASDAQ:BTMD) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.18. biote had a negative return on equity of 36.67% and a net margin of 4.30%. The company had revenue of $46.80 million for the quarter, compared to analysts’ expectations of $47.09 million. Equities analysts forecast that biote Corp. will post 0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm restated a “buy” rating and issued a $9.00 target price (up previously from $8.00) on shares of biote in a research report on Wednesday, March 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat, biote currently has an average rating of “Buy” and an average target price of $8.11.

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.