10,000 Shares in Fortrea Holdings Inc. (NASDAQ:FTRE) Bought by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc acquired a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,000 shares of the company’s stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cohen Capital Management Inc. acquired a new stake in shares of Fortrea in the 4th quarter valued at about $1,873,000. Illinois Municipal Retirement Fund acquired a new stake in shares of Fortrea in the 4th quarter valued at about $1,738,000. New York State Common Retirement Fund acquired a new stake in shares of Fortrea in the 4th quarter valued at about $17,918,000. California Public Employees Retirement System acquired a new stake in shares of Fortrea in the 4th quarter valued at about $5,621,000. Finally, Garrison Asset Management LLC acquired a new stake in shares of Fortrea in the 4th quarter valued at about $462,000.

Fortrea Stock Performance

Fortrea stock opened at $36.94 on Wednesday. Fortrea Holdings Inc. has a 52 week low of $24.92 and a 52 week high of $41.02. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.90. The stock has a 50-day simple moving average of $37.82 and a 200 day simple moving average of $33.53.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings results on Monday, March 11th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The company had revenue of $775.40 million during the quarter, compared to analyst estimates of $779.09 million. Fortrea’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Fortrea Holdings Inc. will post 1.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on FTRE shares. William Blair started coverage on Fortrea in a research note on Friday, January 5th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Fortrea in a research report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 target price on the stock. Barclays lowered their target price on Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Robert W. Baird initiated coverage on Fortrea in a research report on Friday, March 22nd. They issued a “neutral” rating and a $43.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on Fortrea in a research report on Thursday, January 4th. They issued a “buy” rating and a $44.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Fortrea has an average rating of “Hold” and a consensus price target of $37.29.

Fortrea Company Profile

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.