Boston Partners Sells 9,234 Shares of biote Corp. (NASDAQ:BTMD)

Boston Partners trimmed its holdings in shares of biote Corp. (NASDAQ:BTMD) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 606,103 shares of the company’s stock after selling 9,234 shares during the period. Boston Partners owned about 1.12% of biote worth $3,746,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new stake in biote in the fourth quarter worth about $68,000. Intech Investment Management LLC bought a new stake in shares of biote in the 4th quarter worth approximately $71,000. SG Americas Securities LLC purchased a new position in biote in the fourth quarter valued at approximately $76,000. Thompson Davis & CO. Inc. bought a new position in biote during the fourth quarter valued at $77,000. Finally, MetLife Investment Management LLC increased its position in biote by 129.1% in the third quarter. MetLife Investment Management LLC now owns 16,582 shares of the company’s stock worth $93,000 after buying an additional 9,343 shares during the last quarter. 21.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at biote

In related news, Director Stephen Mark Cone purchased 38,104 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were purchased at an average cost of $3.88 per share, for a total transaction of $147,843.52. Following the completion of the transaction, the director now directly owns 160,829 shares in the company, valued at approximately $624,016.52. This represents a 31.05 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Guines Llc acquired 750,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $3.22 per share, with a total value of $2,415,000.00. Following the completion of the transaction, the insider now directly owns 3,820,938 shares of the company’s stock, valued at $12,303,420.36. This trade represents a 24.42 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 788,204 shares of company stock worth $2,563,218. Corporate insiders own 13.90% of the company’s stock.

biote Stock Down 8.1 %

NASDAQ BTMD opened at $3.86 on Friday. The firm has a market cap of $209.74 million, a P/E ratio of 14.85 and a beta of 1.07. The company’s 50 day moving average is $4.78 and its 200-day moving average is $5.48. biote Corp. has a 12-month low of $3.04 and a 12-month high of $8.44.

Wall Street Analyst Weigh In

Separately, Craig Hallum cut their price target on biote from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, March 13th.

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.