Northern Trust Corp Buys 25,873 Shares of biote Corp. (NASDAQ:BTMD)

Northern Trust Corp lifted its holdings in biote Corp. (NASDAQ:BTMD) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,336 shares of the company’s stock after purchasing an additional 25,873 shares during the quarter. Northern Trust Corp owned 0.53% of biote worth $1,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of biote by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 681,524 shares of the company’s stock worth $4,211,000 after acquiring an additional 3,065 shares during the last quarter. Rhumbline Advisers raised its stake in shares of biote by 11.6% in the fourth quarter. Rhumbline Advisers now owns 37,688 shares of the company’s stock worth $233,000 after buying an additional 3,920 shares during the period. Wells Fargo & Company MN lifted its position in shares of biote by 49.9% during the 4th quarter. Wells Fargo & Company MN now owns 12,742 shares of the company’s stock valued at $79,000 after buying an additional 4,243 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of biote by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 75,738 shares of the company’s stock valued at $468,000 after acquiring an additional 5,215 shares during the period. Finally, Sei Investments Co. grew its stake in shares of biote by 56.4% during the 4th quarter. Sei Investments Co. now owns 18,321 shares of the company’s stock valued at $113,000 after acquiring an additional 6,605 shares during the period. 21.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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.

Insider Activity at biote

In other news, major shareholder Guines Llc acquired 436,037 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $3.26 per share, for a total transaction of $1,421,480.62. Following the completion of the transaction, the insider now directly owns 4,611,071 shares of the company’s stock, valued at approximately $15,032,091.46. The trade was a 10.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Mark Cone acquired 38,104 shares of the firm’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 purchase, the director now owns 160,829 shares of the company’s stock, valued at $624,016.52. The trade was a 31.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,412,080 shares of company stock valued at $4,598,190 over the last 90 days. 24.00% of the stock is owned by corporate insiders.

biote Price Performance

BTMD stock opened at $3.68 on Tuesday. biote Corp. has a 1-year low of $3.04 and a 1-year high of $8.44. The business has a 50 day simple moving average of $3.59 and a two-hundred day simple moving average of $4.82. The company has a market capitalization of $201.33 million, a price-to-earnings ratio of 14.15 and a beta of 1.17.

biote (NASDAQ:BTMD) last released its earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $48.99 million for the quarter, compared to the consensus estimate of $47.25 million. biote had a net margin of 5.20% and a negative return on equity of 32.41%. Sell-side analysts anticipate that biote Corp. will post 0.75 EPS for the current fiscal year.

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.