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In a recent transaction, Guines LLC, a major stakeholder in biote Corp. (NASDAQ:BTMD), acquired 106,000 shares of the company’s Class A common stock. The purchase, executed on March 31, was completed at a price of $3.32 per share, totaling $351,920. The timing is notable as the stock has declined over 41% year-to-date, while InvestingPro data shows analysts maintain a strong buy consensus with price targets ranging from $6 to $9. This acquisition increases Guines LLC’s holdings to 4,033,547 shares, reflecting its continued investment in the medicinal chemicals and botanical products company.
The shares are directly owned by Guines LLC, with Roystone Management Holdings LLC serving as the investment adviser. Richard Barrera, a managing member of RB Management GP LLC, which manages Roystone, is also associated with this transaction. However, the involved parties have disclaimed beneficial ownership of the securities beyond their pecuniary interest.
In other recent news, Biote Corp. reported its fourth-quarter 2024 earnings, revealing a slight miss on earnings per share (EPS) forecasts, with an EPS of $0.10, which was below the forecasted $0.11. The company’s revenue for the quarter was $49.8 million, falling short of the expected $51.29 million. Despite these setbacks, Biote demonstrated a year-over-year revenue growth of 9%, driven by increases in procedure and dietary supplement revenues. Analyst firms Jefferies and Truist Securities both adjusted their price targets for Biote, with Jefferies reducing its target to $6.80 and Truist to $7.00, while both maintained a Buy rating on the stock. These adjustments were in response to operational challenges related to the implementation of new software, which impacted the growth of new practitioners. Despite the challenges, both analysts expressed confidence in the company’s long-term potential, citing the robust demand in the Bioidentical Hormone Replacement Therapy market and Biote’s leading position. Additionally, Biote’s Board of Directors and CEO Bret Christensen purchased approximately 260,000 shares of the company’s common stock, signaling confidence in the company’s future strategy and growth prospects.
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