biote (NASDAQ:BTMD) Issues Earnings Results, Beats Estimates By $0.01 EPS

biote (NASDAQ:BTMD) released its earnings results on Wednesday. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01, FiscalAI reports. The firm had revenue of $46.41 million during the quarter, compared to analysts’ expectations of $45.79 million. biote had a negative return on equity of 21.86% and a net margin of 14.72%.

biote Trading Up 1.2%

Shares of biote stock traded up $0.02 during trading hours on Wednesday, reaching $1.72. 229,007 shares of the company’s stock were exchanged, compared to its average volume of 168,663. The stock has a market cap of $78.54 million, a P/E ratio of 2.18 and a beta of 1.14. The company has a 50 day moving average of $2.21 and a two-hundred day moving average of $2.66. biote has a fifty-two week low of $1.68 and a fifty-two week high of $4.75.

Wall Street Analyst Weigh In

BTMD has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of biote in a report on Monday, December 29th. Truist Financial set a $5.00 target price on biote in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, biote currently has an average rating of “Hold” and an average target price of $5.67.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BTMD. Cubist Systematic Strategies LLC bought a new stake in shares of biote during the 1st quarter worth approximately $76,000. AQR Capital Management LLC acquired a new position in biote during the first quarter worth $43,000. Geode Capital Management LLC raised its position in biote by 7.2% during the second quarter. Geode Capital Management LLC now owns 616,697 shares of the company’s stock worth $2,480,000 after acquiring an additional 41,333 shares in the last quarter. XTX Topco Ltd acquired a new stake in biote in the second quarter valued at $68,000. Finally, First Trust Advisors LP grew its position in shares of biote by 5.3% in the 2nd quarter. First Trust Advisors LP now owns 73,669 shares of the company’s stock valued at $296,000 after acquiring an additional 3,675 shares during the period. 21.68% of the stock is currently owned by institutional investors.

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.