Fortrea Holdings Inc. $FTRE Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,331,016 shares of the company’s stock after acquiring an additional 258,098 shares during the period. Vanguard Group Inc. owned about 0.09% of Fortrea worth $143,710,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FTRE. Eagle Health Investments LP acquired a new position in Fortrea during the third quarter worth $8,325,000. Allianz Asset Management GmbH grew its holdings in Fortrea by 20.0% in the third quarter. Allianz Asset Management GmbH now owns 305,008 shares of the company’s stock valued at $2,568,000 after purchasing an additional 50,902 shares during the last quarter. Ausbil Investment Management Ltd grew its holdings in Fortrea by 587.2% in the fourth quarter. Ausbil Investment Management Ltd now owns 224,713 shares of the company’s stock valued at $3,876,000 after purchasing an additional 192,015 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of Fortrea by 2,830.1% in the third quarter. WINTON GROUP Ltd now owns 304,674 shares of the company’s stock valued at $2,565,000 after buying an additional 294,276 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Fortrea by 65.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 692,702 shares of the company’s stock worth $5,833,000 after buying an additional 274,209 shares during the last quarter.

Insider Transactions at Fortrea

In related news, CFO Jill G. Mcconnell sold 5,061 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total transaction of $45,903.27. Following the completion of the transaction, the chief financial officer directly owned 69,796 shares in the company, valued at $633,049.72. This represents a 6.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 8,792 shares of company stock worth $80,014. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FTRE. Robert W. Baird set a $20.00 target price on shares of Fortrea in a research report on Wednesday, May 6th. Truist Financial set a $19.00 target price on shares of Fortrea in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 price objective on shares of Fortrea in a report on Thursday. TD Cowen reissued a “buy” rating on shares of Fortrea in a report on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Fortrea in a research note on Tuesday, April 21st. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.32.

Fortrea Stock Performance

Shares of NASDAQ FTRE opened at $14.99 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.98. The firm’s 50-day moving average price is $10.33 and its two-hundred day moving average price is $12.65. Fortrea Holdings Inc. has a 52-week low of $3.97 and a 52-week high of $18.67. The stock has a market capitalization of $1.42 billion, a P/E ratio of -3.05, a P/E/G ratio of 0.50 and a beta of 1.92.

Fortrea (NASDAQ:FTRE) last posted its earnings results on Tuesday, May 5th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.03 by $0.13. The company had revenue of $636.50 million during the quarter, compared to analyst estimates of $628.51 million. Fortrea had a positive return on equity of 9.51% and a negative net margin of 16.50%. As a group, sell-side analysts forecast that Fortrea Holdings Inc. will post 0.76 earnings per share for the current year.

Fortrea Profile

Fortrea, Inc is a global contract development and manufacturing organization (CDMO) that provides integrated solutions for pharmaceutical and biotechnology companies. Established as a spin-off from Thermo Fisher Scientific’s Pharma Services business in October 2023, Fortrea leverages a legacy of scientific expertise and manufacturing scale to support drug development from early-stage research through commercial production. The company’s comprehensive offerings address the complex needs of both small-molecule and biologics programs, making it a single source for clients seeking to accelerate timelines and manage costs.

Fortrea’s core services encompass analytical and formulation development, process optimization, clinical and commercial manufacturing, and packaging services.