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

Hillsdale Investment Management Inc. acquired a new position in biote Corp. (NASDAQ:BTMD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 252,544 shares of the company’s stock, valued at approximately $1,561,000. Hillsdale Investment Management Inc. owned approximately 0.46% of biote at the end of the most recent quarter.

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

biote Trading Down 8.1 %

Shares of biote stock opened at $3.86 on Friday. The firm’s 50-day moving average price is $4.78 and its 200 day moving average price is $5.48. biote Corp. has a twelve month low of $3.04 and a twelve month high of $8.44. The firm has a market capitalization of $209.74 million, a PE ratio of 14.85 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum dropped their price objective on biote from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, March 13th.

Insider Transactions at biote

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

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.