The Manufacturers Life Insurance Company Buys New Shares in biote Corp. (NASDAQ:BTMD)

The Manufacturers Life Insurance Company purchased a new position in biote Corp. (NASDAQ:BTMD) in the second quarter, Holdings Channel.com reports. The firm purchased 11,271 shares of the company’s stock, valued at approximately $84,000.

Other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of biote by 1,016.6% in 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 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 in the last quarter. Skylands Capital LLC boosted its stake in biote by 36.2% in the 2nd quarter. Skylands Capital LLC now owns 160,845 shares of the company’s stock worth $1,202,000 after purchasing an additional 42,729 shares during the period. Bank of New York Mellon Corp grew its holdings in 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 buying an additional 34,999 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in shares of biote during the second quarter valued at approximately $585,000. Hedge funds and other institutional investors own 21.68% of the company’s stock.

biote Stock Performance

BTMD stock opened at $5.32 on Monday. The company’s fifty day moving average price is $5.73 and its 200-day moving average price is $6.33. biote Corp. has a one year low of $3.65 and a one year high of $8.44. The company has a market capitalization of $330.03 million, a PE ratio of 48.36 and a beta of 0.93.

biote (NASDAQ:BTMD) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS 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. On average, research analysts predict that biote Corp. will post 0.52 EPS for the current fiscal year.

biote 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.