Counterpoint Mutual Funds LLC Purchases New Stake in Fortrea Holdings Inc. $FTRE

Counterpoint Mutual Funds LLC acquired a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) during the third quarter, HoldingsChannel.com reports. The firm acquired 103,646 shares of the company’s stock, valued at approximately $873,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank raised its holdings in shares of Fortrea by 4.0% during the 3rd quarter. Amalgamated Bank now owns 26,688 shares of the company’s stock worth $225,000 after acquiring an additional 1,026 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Fortrea by 8.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,235 shares of the company’s stock worth $115,000 after purchasing an additional 1,769 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Fortrea by 214.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $28,000 after purchasing an additional 2,278 shares during the period. GAMMA Investing LLC boosted its holdings in Fortrea by 88.2% in the 3rd quarter. GAMMA Investing LLC now owns 6,043 shares of the company’s stock valued at $51,000 after purchasing an additional 2,832 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of Fortrea by 74.3% in the 2nd quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock valued at $38,000 after buying an additional 2,918 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FTRE. Barclays set a $15.00 price target on shares of Fortrea and gave the company an “equal weight” rating in a research report on Monday, December 15th. Citigroup raised Fortrea from a “neutral” rating to a “buy” rating and upped their price target for the company from $12.00 to $21.00 in a research note on Thursday, December 11th. Wall Street Zen downgraded Fortrea from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Robert W. Baird set a $19.00 price objective on shares of Fortrea in a report on Wednesday, January 14th. Finally, Wedbush set a $21.00 target price on shares of Fortrea in a research note on Thursday, December 11th. 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, the company currently has a consensus rating of “Hold” and an average target price of $16.75.

Fortrea Price Performance

Shares of FTRE opened at $10.84 on Tuesday. The company has a market cap of $1.00 billion, a P/E ratio of -0.96, a PEG ratio of 0.32 and a beta of 1.59. Fortrea Holdings Inc. has a fifty-two week low of $3.97 and a fifty-two week high of $18.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.81. The firm’s 50 day moving average price is $15.62 and its 200 day moving average price is $12.28.

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.