Hillsdale Investment Management Inc. Purchases New Shares in biote Corp. (NASDAQ:BTMD)

Hillsdale Investment Management Inc. purchased a new position in shares of biote Corp. (NASDAQ:BTMD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 252,544 shares of the company's stock, valued at approximately $1,561,000. Hillsdale Investment Management Inc. owned about 0.46% of biote at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sei Investments Co. grew its holdings in biote by 56.4% during the fourth quarter. Sei Investments Co. now owns 18,321 shares of the company's stock valued at $113,000 after purchasing an additional 6,605 shares during the period. Intech Investment Management LLC purchased a new position in shares of biote during the 4th quarter valued at about $71,000. Commonwealth Equity Services LLC purchased a new stake in biote in the 4th quarter worth approximately $68,000. Charles Schwab Investment Management Inc. lifted its holdings in biote by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 75,738 shares of the company's stock valued at $468,000 after purchasing an additional 5,215 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of biote by 19.8% in the fourth quarter. Bank of New York Mellon Corp now owns 105,886 shares of the company's stock worth $654,000 after purchasing an additional 17,521 shares during the period. Institutional investors own 21.68% of the company's stock.

biote Stock Performance

Shares of biote stock traded down $0.05 during trading hours on Thursday, hitting $3.67. The company's stock had a trading volume of 140,826 shares, compared to its average volume of 179,329. The company has a market cap of $200.79 million, a PE ratio of 14.12 and a beta of 1.07. The business has a 50 day moving average price of $4.66 and a two-hundred day moving average price of $5.43. biote Corp. has a 12-month low of $3.04 and a 12-month high of $8.44.

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Insider Buying and Selling

In related news, Director Stephen Mark Cone purchased 38,104 shares of biote stock in a transaction on Monday, March 17th. The shares were bought at an average cost of $3.88 per share, for a total transaction of $147,843.52. Following the acquisition, the director now owns 160,829 shares in the company, valued at approximately $624,016.52. The trade was a 31.05 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Guines Llc acquired 750,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $3.22 per share, with a total value of $2,415,000.00. Following the acquisition, the insider now directly owns 3,820,938 shares in the company, valued at approximately $12,303,420.36. The trade was a 24.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 788,204 shares of company stock valued at $2,563,218. Corporate insiders own 13.90% of the company's stock.

Analyst Upgrades and Downgrades

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.

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.