Skylands Capital LLC Sells 126,884 Shares of biote Corp. (NASDAQ:BTMD)

Skylands Capital LLC lessened its holdings in shares of biote Corp. (NASDAQ:BTMD) by 64.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,516 shares of the company’s stock after selling 126,884 shares during the period. Skylands Capital LLC owned about 0.09% of biote worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in shares of biote during the third quarter valued at approximately $126,000. Mesirow Financial Investment Management Inc. bought a new position in biote in the 3rd quarter worth $247,000. Barclays PLC lifted its position in shares of biote by 768.1% in the 3rd quarter. Barclays PLC now owns 24,490 shares of the company’s stock worth $126,000 after purchasing an additional 21,669 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of biote in the 3rd quarter worth about $158,000. Finally, Acadian Asset Management LLC bought a new stake in shares of biote during the 3rd quarter valued at about $712,000. Institutional investors own 21.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. B. Riley began coverage on shares of biote in a research note on Tuesday, February 20th. They issued a “buy” rating and a $9.00 price target for the company. Jefferies Financial Group started coverage on biote in a research note on Thursday, February 1st. They issued a “buy” rating and a $6.55 target price for the company. Roth Mkm reaffirmed a “buy” rating and issued a $9.00 price target (up from $8.00) on shares of biote in a research note on Wednesday, March 13th. Finally, Truist Financial lowered their price objective on biote from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.11.

biote Stock Performance

Shares of biote stock opened at $5.50 on Tuesday. The company has a 50-day simple moving average of $5.82 and a two-hundred day simple moving average of $5.17. The stock has a market capitalization of $409.92 million, a PE ratio of -24.91 and a beta of 0.87. biote Corp. has a 52-week low of $3.65 and a 52-week high of $8.22.

biote (NASDAQ:BTMD) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. The company had revenue of $45.70 million during the quarter, compared to analyst estimates of $45.50 million. biote had a net margin of 1.79% and a negative return on equity of 45.10%. As a group, equities research analysts forecast that biote Corp. will post 0.39 EPS for the current fiscal year.

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.