Skylands Capital LLC Lowers Stake in biote Corp. (NASDAQ:BTMD)

Skylands Capital LLC cut its holdings in shares of biote Corp. (NASDAQ:BTMD) by 64.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 68,516 shares of the company’s stock after selling 126,884 shares during the period. Skylands Capital LLC’s holdings in biote were worth $338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in biote in the fourth quarter valued at approximately $53,000. Bailard Inc. purchased a new position in shares of biote during the 4th quarter valued at approximately $96,000. Barclays PLC grew its stake in biote by 768.1% in the 3rd quarter. Barclays PLC now owns 24,490 shares of the company’s stock valued at $126,000 after acquiring an additional 21,669 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in biote in the 3rd quarter worth $126,000. Finally, WINTON GROUP Ltd purchased a new stake in biote in the 3rd quarter worth $158,000. Hedge funds and other institutional investors own 21.68% of the company’s stock.

biote Stock Up 0.4 %

Shares of NASDAQ BTMD opened at $5.50 on Tuesday. The firm has a 50-day simple moving average of $5.82 and a 200-day simple moving average of $5.17. The stock has a market capitalization of $409.92 million, a price-to-earnings 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 issued its earnings results on Tuesday, March 12th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.06. biote had a negative return on equity of 45.10% and a net margin of 1.79%. The company had revenue of $45.70 million during the quarter, compared to analysts’ expectations of $45.50 million. As a group, equities research analysts expect that biote Corp. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BTMD. B. Riley began coverage on shares of biote in a report on Tuesday, February 20th. They set a “buy” rating and a $9.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of biote in a research note on Thursday, February 1st. They issued a “buy” rating and a $6.55 price target on the stock. Truist Financial cut 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. Finally, Roth Mkm reissued a “buy” rating and set a $9.00 target price (up previously from $8.00) on shares of biote in a report on Wednesday, March 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, biote has a consensus rating of “Buy” and a consensus target price of $8.11.

biote 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.