First Trust Advisors LP Has $440,000 Position in biote Corp. (NASDAQ:BTMD)

First Trust Advisors LP cut its stake in biote Corp. (NASDAQ:BTMD) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,210 shares of the company’s stock after selling 7,732 shares during the quarter. First Trust Advisors LP’s holdings in biote were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BTMD. Commonwealth Equity Services LLC acquired a new position in biote in the 4th quarter worth about $68,000. Intech Investment Management LLC bought a new stake in shares of biote in the 4th quarter valued at approximately $71,000. SG Americas Securities LLC acquired a new position in biote in the fourth quarter worth approximately $76,000. Thompson Davis & CO. Inc. bought a new position in biote during the fourth quarter valued at approximately $77,000. Finally, Wells Fargo & Company MN lifted its stake in biote by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 12,742 shares of the company’s stock valued at $79,000 after acquiring an additional 4,243 shares during the last quarter. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

biote Stock Performance

BTMD opened at $3.99 on Friday. The company has a market cap of $218.29 million, a PE ratio of 15.35 and a beta of 1.17. The stock has a 50-day moving average of $3.61 and a 200-day moving average of $4.93. biote Corp. has a 52-week low of $3.04 and a 52-week high of $8.44.

biote (NASDAQ:BTMD) last posted its earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. biote had a net margin of 5.20% and a negative return on equity of 32.41%. The business had revenue of $48.99 million for the quarter, compared to analyst estimates of $47.25 million. On average, research analysts predict that biote Corp. will post 0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Craig Hallum dropped their price target on shares of biote from $12.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th.

Insider Activity

In other news, major shareholder Guines Llc bought 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $3.22 per share, with a total value of $2,415,000.00. Following the completion of the transaction, the insider now directly owns 3,820,938 shares in the company, valued at $12,303,420.36. This represents a 24.42 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen Mark Cone purchased 38,104 shares of the business’s stock in a transaction on Monday, March 17th. The stock was purchased at an average cost of $3.88 per share, with a total value of $147,843.52. Following the acquisition, the director now owns 160,829 shares in the company, valued at approximately $624,016.52. This represents a 31.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,412,080 shares of company stock valued at $4,598,190. 24.00% of the stock is owned by company insiders.

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.