B. Riley Comments on biote’s FY2024 Earnings (NASDAQ:BTMD)

biote Corp. (NASDAQ:BTMD) – Investment analysts at B. Riley boosted their FY2024 earnings per share (EPS) estimates for biote in a research note issued on Wednesday, November 13th. B. Riley analyst J. Van. Sinderen now expects that the company will earn $0.74 per share for the year, up from their previous forecast of $0.50. The consensus estimate for biote’s current full-year earnings is $0.53 per share. B. Riley also issued estimates for biote’s Q4 2024 earnings at $0.06 EPS, FY2025 earnings at $0.47 EPS and FY2026 earnings at $0.70 EPS.

biote Price Performance

Shares of BTMD opened at $5.39 on Friday. The firm’s 50 day moving average is $5.53 and its 200-day moving average is $6.28. biote has a 12-month low of $3.65 and a 12-month high of $8.44. The stock has a market capitalization of $292.24 million, a P/E ratio of 20.73 and a beta of 0.94.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in shares of biote by 52.3% in the 3rd quarter. Barclays PLC now owns 77,196 shares of the company’s stock worth $432,000 after acquiring an additional 26,510 shares during the last quarter. K2 Principal Fund L.P. acquired a new stake in biote during the 3rd quarter worth about $277,000. Jane Street Group LLC lifted its stake in biote by 24.7% during the third quarter. Jane Street Group LLC now owns 16,873 shares of the company’s stock valued at $94,000 after buying an additional 3,342 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of biote in the third quarter worth about $295,000. Finally, State Street Corp increased its position in shares of biote by 13.7% in the third quarter. State Street Corp now owns 475,491 shares of the company’s stock worth $2,653,000 after acquiring an additional 57,290 shares in the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.

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.