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Biote Corp. (NASDAQ:BTMD) recently experienced a series of insider purchases, with significant transactions disclosed in a recent SEC filing. These purchases come as the stock trades near its 52-week low of $3.04, having declined over 47% year-to-date. Richard Barrera, along with entities Guines LLC, Roystone Management Holdings LLC, and RB Management GP LLC, collectively acquired a total of 74,440 shares of the company's Class A common stock. According to InvestingPro, the company maintains a "GREAT" financial health score of 3.05. The transactions, executed between April 3 and April 7, 2025, were made at prices ranging from $3.1515 to $3.2435 per share, amounting to a total of $237,405.
These acquisitions were made through multiple transactions, with Guines LLC directly holding the purchased shares. The purchases reflect the involvement of Barrera and the associated entities as ten percent owners of biote Corp. The shares are held indirectly through these entities, with Barrera serving as the managing member of the manager overseeing Roystone, which acts as the investment adviser to Guines.
The transactions are part of a broader pattern of insider activity within the company, highlighting ongoing interests in the medicinal chemicals and botanical products sector, where biote Corp. operates.
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 compared to the expected $0.11. Revenue also fell short, coming in at $49.8 million against the projected $51.29 million. Despite these setbacks, the company demonstrated a year-over-year revenue growth of 9%, driven by a 5% increase in procedure revenue and a 10.2% rise in dietary supplement revenue. Meanwhile, Jefferies analyst Kaumil Gajrawala adjusted Biote's stock price target to $6.80 from $9.24, maintaining a Buy rating, reflecting confidence in the company's long-term prospects despite recent performance challenges. Similarly, Truist Securities also reduced its price target to $7.00 from $9.00, yet reaffirmed a Buy rating, citing optimism about Biote's ability to navigate its current operational hurdles. Additionally, Biote's Board of Directors and CEO Bret Christensen recently purchased approximately 260,000 shares of the company's stock, indicating confidence in the company's business strategy and future growth potential. These developments come amid Biote's efforts to address the impact of a new software rollout, which has affected the growth of new practitioners, a key element of its recurring revenue model.
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