Healthcare of Ontario Pension Plan Trust Fund Sells 69,067 Shares of Fortrea Holdings Inc. $FTRE

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 18.0% during the first quarter, HoldingsChannel reports. The firm owned 314,800 shares of the company’s stock after selling 69,067 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Fortrea were worth $2,965,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FTRE. Larson Financial Group LLC boosted its stake in shares of Fortrea by 136.7% during the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares during the period. Toronto Dominion Bank purchased a new position in Fortrea during the fourth quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Fortrea by 27.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock worth $77,000 after acquiring an additional 980 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Fortrea by 74.3% in the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after purchasing an additional 2,918 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Fortrea by 37.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,386 shares of the company’s stock worth $71,000 after acquiring an additional 2,303 shares in the last quarter.

Fortrea Price Performance

NASDAQ:FTRE opened at $19.08 on Friday. Fortrea Holdings Inc. has a one year low of $5.26 and a one year high of $21.39. The stock has a market cap of $1.80 billion, a PE ratio of -20.97, a P/E/G ratio of 0.62 and a beta of 2.03. The stock has a 50 day moving average price of $16.93 and a 200 day moving average price of $13.80. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.95 and a current ratio of 0.96.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. Fortrea had a negative net margin of 3.18% and a positive return on equity of 10.72%. The firm had revenue of $678.20 million for the quarter, compared to analysts’ expectations of $647.57 million. Equities research analysts expect that Fortrea Holdings Inc. will post 0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on FTRE. TD Cowen reaffirmed a “buy” rating on shares of Fortrea in a research report on Wednesday, May 6th. Robert W. Baird set a $23.00 target price on shares of Fortrea in a research report on Thursday. Zacks Research raised Fortrea from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Evercore reissued an “outperform” rating on shares of Fortrea in a research note on Wednesday. Finally, Truist Financial lifted their price target on shares of Fortrea from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Fortrea currently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Key Headlines Impacting Fortrea

Here are the key news stories impacting Fortrea this week:

• Positive Sentiment: Fortrea reported second-quarter adjusted earnings of $0.23 per share, exceeding the $0.18 analyst consensus, while revenue of $678.2 million topped expectations of $647.6 million. Earnings also increased from $0.19 per share a year earlier. Fortrea Q2 Earnings Beat
• Positive Sentiment: The company raised or increased its full-year outlook, forecasting 2026 revenue of approximately $2.62 billion to $2.69 billion. Management highlighted four consecutive quarters of improved commercial, operational and financial execution, supporting the bullish case. Fortrea Reports Second Quarter 2026 Results
• Positive Sentiment: Truist Financial raised its price target on Fortrea from $19 to $26 and upgraded the stock to “Buy,” implying substantial potential upside from recent trading levels. The change reflects increased confidence following the earnings results and guidance. Truist Raises Fortrea Price Target
• Neutral Sentiment: Fortrea’s positive quarterly performance was accompanied by a negative net margin, indicating that profitability remains uneven despite the adjusted earnings beat. Analysts currently expect approximately $0.80 in earnings per share for the full fiscal year. Fortrea Earnings Report
• Negative Sentiment: The board appointed director David Smith as interim chief financial officer amid an ongoing legal dispute involving former CFO Michael Madlock and a related covenant proceeding. The management transition and legal uncertainty could weigh on investor confidence and partially offset the strong operating results. Fortrea Names Interim CFO

Fortrea 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.