Fortrea Holdings Inc. $FTRE Shares Sold by ING Groep NV

ING Groep NV lowered its stake in Fortrea Holdings Inc. (NASDAQ:FTRE) by 48.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 122,100 shares of the company’s stock after selling 116,000 shares during the quarter. ING Groep NV owned about 0.13% of Fortrea worth $2,106,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Eagle Health Investments LP acquired a new stake in shares of Fortrea in the third quarter valued at about $8,325,000. Allianz Asset Management GmbH grew its stake in shares of 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 buying an additional 50,902 shares in the last quarter. Ausbil Investment Management Ltd grew its stake in shares of 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 buying an additional 192,015 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Fortrea by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 8,331,016 shares of the company’s stock valued at $143,710,000 after buying an additional 258,098 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Fortrea by 3.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,272,597 shares of the company’s stock valued at $142,702,000 after buying an additional 293,992 shares in the last quarter.

Fortrea Price Performance

Shares of NASDAQ FTRE opened at $16.88 on Wednesday. Fortrea Holdings Inc. has a fifty-two week low of $4.36 and a fifty-two week high of $18.67. The business has a 50 day moving average price of $12.43 and a two-hundred day moving average price of $13.25. 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 has a market cap of $1.60 billion, a PE ratio of -3.44, a price-to-earnings-growth ratio of 0.50 and a beta of 2.12.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FTRE shares. Citigroup raised their price objective on Fortrea from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Mizuho raised their price objective on Fortrea from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Fortrea in a research note on Tuesday, April 21st. TD Cowen restated a “buy” rating on shares of Fortrea in a research note on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $14.00 price objective on shares of Fortrea in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average 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.