Bank of America Corp DE Has $345,000 Stock Position in biote Corp. (NASDAQ:BTMD)

Bank of America Corp DE lifted its holdings in shares of biote Corp. (NASDAQ:BTMD) by 18.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 55,883 shares of the company’s stock after buying an additional 8,608 shares during the period. Bank of America Corp DE’s holdings in biote were worth $345,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new position in biote in the 4th quarter valued at $254,000. Ameriprise Financial Inc. grew its stake in biote by 10.2% in the 4th quarter. Ameriprise Financial Inc. now owns 36,214 shares of the company’s stock valued at $224,000 after buying an additional 3,351 shares during the last quarter. Northern Trust Corp grew its stake in biote by 9.9% in the 4th quarter. Northern Trust Corp now owns 288,336 shares of the company’s stock valued at $1,782,000 after buying an additional 25,873 shares during the last quarter. Oxford Asset Management LLP acquired a new position in biote in the 4th quarter valued at $158,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in biote in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 21.68% of the company’s stock.

Analysts Set New Price Targets

Separately, Craig Hallum lowered their target price 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.

biote Price Performance

Shares of biote stock opened at $3.95 on Friday. biote Corp. has a fifty-two week low of $3.04 and a fifty-two week high of $8.44. The firm has a fifty day moving average price of $3.63 and a two-hundred day moving average price of $4.64. The company has a market cap of $216.10 million, a PE ratio of 15.19 and a beta of 1.16.

biote (NASDAQ:BTMD) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share 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 firm had revenue of $48.99 million during the quarter, compared to the consensus estimate of $47.25 million. Analysts expect that biote Corp. will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at biote

In other biote news, major shareholder Guines Llc acquired 106,000 shares of biote stock in a transaction dated Monday, March 31st. The stock was bought at an average cost of $3.32 per share, with a total value of $351,920.00. Following the acquisition, the insider now owns 4,033,547 shares of the company’s stock, valued at approximately $13,391,376.04. The trade was a 2.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Mark Cone acquired 38,104 shares of biote stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $3.88 per share, with a total value of $147,843.52. Following the completion of the acquisition, the director now directly owns 160,829 shares in the company, valued at $624,016.52. This trade represents a 31.05% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 662,080 shares of company stock valued at $2,183,190. Company insiders own 24.00% 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.