Biote price target lowered to $8 from $11 at Roth MKM

Roth MKM lowered the firm’s price target on Biote (BTMD) to $8 from $11 but keeps a Buy rating on the shares. The company reported another mixed quarterly report and guide and the management’s guided procedure growth slowdown outlook was a “bit puzzling”, but with the stock trading at less than 5-times expected 2026 EBITDA and the business continuing to grow and generate over 30% EBITDA margin with strong free cash flow, the firm remains positive on shares, the analyst tells investors in a research note.