The Manufacturers Life Insurance Company Purchases New Position in biote Corp. (NASDAQ:BTMD)

The Manufacturers Life Insurance Company acquired a new stake in biote Corp. (NASDAQ:BTMD) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,271 shares of the company’s stock, valued at approximately $84,000.

A number of other hedge funds have also added to or reduced their stakes in BTMD. WINTON GROUP Ltd grew its holdings in shares of biote by 7.0% in the second quarter. WINTON GROUP Ltd now owns 47,725 shares of the company’s stock worth $357,000 after acquiring an additional 3,124 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in biote in the second quarter worth about $42,000. Rhumbline Advisers grew its stake in shares of biote by 104.2% during the 2nd quarter. Rhumbline Advisers now owns 28,225 shares of the company’s stock valued at $211,000 after purchasing an additional 14,404 shares during the period. Bailard Inc. purchased a new stake in shares of biote during the 2nd quarter valued at about $146,000. Finally, Bank of New York Mellon Corp increased its position in shares of biote by 59.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 94,318 shares of the company’s stock valued at $705,000 after purchasing an additional 34,999 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 $5.32 on Monday. The company’s 50 day moving average is $5.73 and its 200 day moving average is $6.33. The company has a market cap of $330.03 million, a price-to-earnings ratio of 48.36 and a beta of 0.93. biote Corp. has a 12-month low of $3.65 and a 12-month high of $8.44.

biote (NASDAQ:BTMD) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. biote had a net margin of 3.67% and a negative return on equity of 20.92%. The business had revenue of $49.17 million for the quarter, compared to analysts’ expectations of $50.40 million. As a group, analysts predict that biote Corp. will post 0.52 EPS for the current fiscal year.

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.