biote (NASDAQ:BTMD) Announces Earnings Results

biote (NASDAQ:BTMD) issued its earnings results on Tuesday. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.09 by $0.24, reports. The company had revenue of $51.38 million during the quarter, compared to analyst estimates of $51.38 million. biote had a negative return on equity of 38.13% and a net margin of 5.20%. biote updated its FY 2024 guidance to EPS.

biote Price Performance

biote stock opened at $6.72 on Thursday. The company has a market cap of $364.36 million, a PE ratio of 25.85 and a beta of 0.94. biote has a 12 month low of $3.65 and a 12 month high of $8.44. The company has a fifty day moving average price of $5.51 and a two-hundred day moving average price of $6.27.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in biote by 1,016.6% during the second quarter. Dimensional Fund Advisors LP now owns 660,069 shares of the company’s stock worth $4,931,000 after acquiring an additional 600,956 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of biote by 251.8% in the 2nd quarter. Renaissance Technologies LLC now owns 193,077 shares of the company’s stock worth $1,442,000 after purchasing an additional 138,200 shares during the last quarter. Sanders Morris Harris LLC boosted its position in biote by 131.2% during the 3rd quarter. Sanders Morris Harris LLC now owns 180,965 shares of the company’s stock valued at $1,010,000 after purchasing an additional 102,706 shares during the period. GDS Wealth Management bought a new position in biote during the 2nd quarter worth $432,000. Finally, Skylands Capital LLC increased its position in biote by 36.2% in the second quarter. Skylands Capital LLC now owns 160,845 shares of the company’s stock worth $1,202,000 after buying an additional 42,729 shares during the period. 21.68% of the stock is currently owned by institutional investors.

About biote

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.