Q3 2024 Earnings Estimate for biote Corp. (NASDAQ:BTMD) Issued By B. Riley

biote Corp. (NASDAQ:BTMD) – Investment analysts at B. Riley reduced their Q3 2024 earnings estimates for shares of biote in a research report issued to clients and investors 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 target price 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.

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

biote Stock Performance

biote stock opened at $6.25 on Friday. The company’s 50 day simple moving average is $5.86 and its 200-day simple moving average is $5.20. biote has a 1 year low of $3.65 and a 1 year high of $8.22. The company has a market capitalization of $465.83 million, a price-to-earnings ratio of -28.41 and a beta of 0.87.

biote (NASDAQ:BTMD) last announced its quarterly earnings results on Tuesday, March 12th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. The business had revenue of $45.70 million during 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of biote in the 4th quarter valued at about $53,000. Bailard Inc. acquired a new position in biote during the 4th quarter worth approximately $96,000. Barclays PLC raised its stake in shares of biote by 768.1% during the 3rd quarter. Barclays PLC now owns 24,490 shares of the company’s stock worth $126,000 after buying an additional 21,669 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of biote in the third quarter valued at approximately $126,000. Finally, WINTON GROUP Ltd acquired a new position in biote during the third quarter worth $158,000. Institutional investors and hedge funds 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.