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biote Corp. (BTMD) Moves 5.3% Higher: Will This Strength Last?

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biote Corp. (BTMD - Free Report) shares soared 5.3% in the last trading session to close at $6.76. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14% gain over the past four weeks.

biote Corp.recorded a strong price increase after it announced the launch of a new Men’s Health Division with the aim of redefining wellness for men via innovation in hormone education and optimization in June. Anticipated better-than-expected second-quarter 2023 revenues with the latest Zacks Consensus Estimate showing significant upward revision for the metric compared to the year-ago reported number also raise optimism. The company is expected to release its second-quarter earnings on Aug 21, 2023.

This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -59.3%. Revenues are expected to be $46.93 million, up 13.5% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For biote Corp., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BTMD going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

biote Corp. is a member of the Zacks Medical - Products industry. One other stock in the same industry, InMode (INMD - Free Report) , finished the last trading session 2.3% higher at $40.74. INMD has returned 13.7% over the past month.

For InMode, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.67. This represents a change of +13.6% from what the company reported a year ago. InMode currently has a Zacks Rank of #3 (Hold).

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