50,958 Shares in Fortrea Holdings Inc. $FTRE Purchased by Stephens Inc. AR

Stephens Inc. AR acquired a new position in Fortrea Holdings Inc. (NASDAQ:FTRE) in the 4th quarter, HoldingsChannel reports. The fund acquired 50,958 shares of the company’s stock, valued at approximately $879,000.

Other large investors also recently added to or reduced their stakes in the company. Eagle Health Investments LP purchased a new stake in Fortrea in the 3rd quarter worth about $8,325,000. Allianz Asset Management GmbH increased its holdings in Fortrea by 20.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 305,008 shares of the company’s stock worth $2,568,000 after acquiring an additional 50,902 shares during the last quarter. Ausbil Investment Management Ltd increased its holdings in Fortrea by 587.2% in the 4th quarter. Ausbil Investment Management Ltd now owns 224,713 shares of the company’s stock worth $3,876,000 after acquiring an additional 192,015 shares during the last quarter. WINTON GROUP Ltd increased its holdings in Fortrea by 2,830.1% in the 3rd quarter. WINTON GROUP Ltd now owns 304,674 shares of the company’s stock worth $2,565,000 after acquiring an additional 294,276 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Fortrea in the 3rd quarter worth about $4,557,000.

Fortrea Stock Down 0.1%

Shares of NASDAQ FTRE opened at $13.70 on Thursday. Fortrea Holdings Inc. has a 12 month low of $3.97 and a 12 month high of $18.67. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -2.79, a PEG ratio of 0.42 and a beta of 1.92. The business has a 50-day moving average of $10.86 and a 200-day moving average of $12.82.

Fortrea (NASDAQ:FTRE) last released its earnings results on Tuesday, May 5th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. The company had revenue of $636.50 million during the quarter, compared to the consensus estimate of $628.51 million. Fortrea had a positive return on equity of 9.51% and a negative net margin of 16.50%. Sell-side analysts expect that Fortrea Holdings Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jill G. Mcconnell sold 5,061 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 69,796 shares of the company’s stock, valued at approximately $633,049.72. The trade was a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 8,792 shares of company stock worth $80,014 over the last 90 days. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FTRE shares. Robert W. Baird set a $20.00 price objective on Fortrea in a report on Wednesday, May 6th. Mizuho lifted their target price on Fortrea from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. TD Cowen reaffirmed a “buy” rating on shares of Fortrea in a report on Wednesday, May 6th. Citigroup lifted their target price on Fortrea from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fortrea in a report on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.25.

Fortrea Company 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.