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IRVING, Texas—In a recent transaction reported to the Securities and Exchange Commission, Stephen Mark Cone, a director at biote Corp. (NASDAQ:BTMD), acquired a significant amount of the company’s Class A common stock. On March 17, Cone purchased 38,104 shares, with the total value of the transaction amounting to approximately $147,843. The company, with a market capitalization of $147 million and annual revenue of $197 million, maintains a robust gross margin of 71%.
The shares were bought at a weighted average price of $3.88 per share, with individual transaction prices ranging from $3.55 to $4.00. This purchase increases Cone’s total holdings to 160,829 shares, demonstrating a notable increase in his investment in the company. According to InvestingPro, this aligns with broader management share purchases, with two key ProTips highlighting management’s active share buybacks and high shareholder yield.
biote Corp., a company operating in the medicinal chemicals and botanical products sector, is headquartered in Irving, Texas. Analysts maintain a bullish outlook with price targets ranging from $6 to $9 per share. For comprehensive analysis including 6 additional ProTips and detailed financial metrics, visit InvestingPro, where you’ll find the complete Pro Research Report on BTMD.
In other recent news, Biote Corp reported its fourth-quarter 2024 earnings, which revealed a slight miss on earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.10, just below the $0.11 forecast, while revenue came in at $49.8 million, falling short of the expected $51.29 million. Despite these results, Biote’s gross profit margin improved to 71.8%, indicating some positive operational efficiencies. Analysts from Jefferies and Truist Securities have adjusted their price targets for Biote, lowering them to $6.80 and $7.00, respectively, but both maintained a Buy rating, reflecting confidence in the company’s long-term potential. These adjustments follow operational challenges, particularly related to the implementation of new software that impacted practitioner growth. Additionally, Biote’s Board of Directors and CEO have shown confidence in the company’s future by purchasing approximately 260,000 shares of common stock. This purchase is seen as a testament to their belief in Biote’s business strategy and growth prospects.
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