biote (NASDAQ:BTMD) Sets New 52-Week High at $8.29

biote Corp. (NASDAQ:BTMD)’s share price hit a new 52-week high on Friday . The company traded as high as $8.29 and last traded at $8.27, with a volume of 293339 shares trading hands. The stock had previously closed at $8.00.

biote Stock Performance

The stock has a market capitalization of $502.52 million, a PE ratio of 72.73 and a beta of 0.98. The stock’s 50 day moving average is $6.65 and its two-hundred day moving average is $5.70.

biote (NASDAQ:BTMD) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.18. The firm had revenue of $46.80 million for the quarter, compared to analyst estimates of $47.09 million. biote had a net margin of 4.30% and a negative return on equity of 36.67%. Equities research analysts expect that biote Corp. will post 0.56 EPS for the current fiscal year.

Insider Transactions at biote

In other news, CFO Robert Charles Peterson sold 11,376 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $7.57, for a total transaction of $86,116.32. Following the transaction, the chief financial officer now directly owns 32,874 shares in the company, valued at approximately $248,856.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 13.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of biote during the 4th quarter worth approximately $53,000. Bailard Inc. acquired a new position in biote in the fourth quarter valued at approximately $96,000. Sanders Morris Harris LLC acquired a new position in biote in the second quarter valued at approximately $585,000. SW Investment Management LLC lifted its holdings in biote by 3.5% in the fourth quarter. SW Investment Management LLC now owns 675,000 shares of the company’s stock valued at $3,334,000 after acquiring an additional 22,651 shares during the last quarter. Finally, Bandera Partners LLC lifted its holdings in biote by 7.5% in the fourth quarter. Bandera Partners LLC now owns 1,832,732 shares of the company’s stock valued at $9,054,000 after acquiring an additional 127,410 shares during the last quarter. 21.68% of the stock is currently owned by institutional investors and hedge funds.

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.