Federated Hermes Inc. Has $720,000 Position in Fortrea Holdings Inc. $FTRE

Federated Hermes Inc. cut its holdings in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 78.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,564 shares of the company’s stock after selling 317,297 shares during the period. Federated Hermes Inc.’s holdings in Fortrea were worth $720,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of Fortrea by 6,802.4% during the second quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock valued at $28,000 after acquiring an additional 5,578 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Fortrea by 214.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock valued at $28,000 after purchasing an additional 2,278 shares during the period. Osaic Holdings Inc. increased its holdings in Fortrea by 74.3% in the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock valued at $38,000 after purchasing an additional 2,918 shares during the period. Tower Research Capital LLC TRC raised its position in Fortrea by 137.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock worth $43,000 after purchasing an additional 5,036 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in Fortrea during the 2nd quarter worth about $46,000.

Analysts Set New Price Targets

FTRE has been the subject of several recent research reports. Truist Financial set a $22.00 price target on Fortrea and gave the company a “buy” rating in a research note on Thursday, January 8th. Zacks Research cut Fortrea from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Barclays set a $15.00 price target on shares of Fortrea and gave the stock an “equal weight” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fortrea in a research note on Thursday, January 22nd. Finally, TD Cowen lifted their target price on shares of Fortrea from $7.00 to $15.00 and gave the stock a “hold” rating in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.75.

Fortrea Stock Performance

Shares of FTRE stock opened at $14.65 on Friday. The firm has a 50 day moving average of $16.37 and a 200-day moving average of $11.83. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -1.30, a price-to-earnings-growth ratio of 0.40 and a beta of 1.59. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.81. Fortrea Holdings Inc. has a 52 week low of $3.97 and a 52 week high of $18.67.

Fortrea (NASDAQ:FTRE) last released its earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The company had revenue of $701.30 million for the quarter, compared to analyst estimates of $643.43 million. Fortrea had a negative net margin of 36.77% and a positive return on equity of 5.64%. On average, equities analysts forecast that Fortrea Holdings Inc. will post 0.51 earnings per share for the current year.

About Fortrea

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.