biote (NASDAQ:BTMD) Upgraded by Truist Financial to Strong-Buy Rating

biote (NASDAQ:BTMD) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. TD Cowen cut their price target on biote from $3.00 to $2.50 and set a “buy” rating for the company in a report on Thursday, March 12th. Weiss Ratings raised biote from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. National Bank Financial set a $2.50 target price on biote in a research report on Thursday, March 12th. Finally, B. Riley Financial cut their target price on shares of biote from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2.75.

biote Stock Down 8.5%

Shares of BTMD stock opened at $2.25 on Monday. The company’s fifty day simple moving average is $2.07 and its two-hundred day simple moving average is $2.15. biote has a 52 week low of $1.27 and a 52 week high of $4.75. The stock has a market cap of $84.56 million, a P/E ratio of 5.11 and a beta of 1.66.

biote (NASDAQ:BTMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). biote had a net margin of 8.29% and a negative return on equity of 25.72%. The firm had revenue of $44.94 million for the quarter, compared to analysts’ expectations of $46.02 million. On average, analysts anticipate that biote will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTMD. Fisher Asset Management LLC bought a new stake in biote during the third quarter worth approximately $30,000. LPL Financial LLC bought a new stake in shares of biote in the 4th quarter valued at approximately $32,000. Abel Hall LLC lifted its stake in shares of biote by 60.3% in the 1st 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 last quarter. Quadrature Capital Ltd purchased a new position in shares of biote in the 4th quarter worth approximately $38,000. Finally, Marshall Wace LLP bought a new position in shares of biote during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 21.68% of the company’s stock.

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.