Vanguard Group Inc. boosted its position in Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,953,261 shares of the company's stock after acquiring an additional 69,005 shares during the period. Vanguard Group Inc. owned about 10.99% of Fortrea worth $75,147,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fortrea in the 4th quarter worth approximately $30,000. GF Fund Management CO. LTD. purchased a new stake in Fortrea in the 4th quarter worth approximately $35,000. Janus Henderson Group PLC grew its stake in Fortrea by 4.9% in the 4th quarter. Janus Henderson Group PLC now owns 43,298 shares of the company's stock worth $809,000 after acquiring an additional 2,006 shares during the period. Quarry LP grew its stake in Fortrea by 1,218.7% in the 4th quarter. Quarry LP now owns 4,365 shares of the company's stock worth $81,000 after acquiring an additional 4,034 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Fortrea by 7.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 59,630 shares of the company's stock valued at $1,113,000 after buying an additional 4,260 shares during the period.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on FTRE shares. Baird R W raised shares of Fortrea from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Citigroup reissued a "neutral" rating on shares of Fortrea in a research note on Thursday, May 22nd. The Goldman Sachs Group lowered their price objective on shares of Fortrea from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Wednesday, May 14th. Cowen reissued a "hold" rating on shares of Fortrea in a research note on Wednesday, May 14th. Finally, Barclays reissued an "underweight" rating and set a $6.00 price objective (up from $5.00) on shares of Fortrea in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $12.22.
Check Out Our Latest Stock Report on Fortrea
Fortrea Stock Up 2.1%
FTRE stock traded up $0.20 during trading on Friday, reaching $9.85. The stock had a trading volume of 177,272 shares, compared to its average volume of 2,316,633. Fortrea Holdings Inc. has a 1-year low of $3.97 and a 1-year high of $25.28. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $894.56 million, a P/E ratio of -0.86 and a beta of 1.81. The firm has a fifty day moving average price of $6.27 and a 200 day moving average price of $7.22.
Fortrea (NASDAQ:FTRE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.13. Fortrea had a negative net margin of 37.57% and a positive return on equity of 5.25%. The firm had revenue of $710.30 million for the quarter, compared to analyst estimates of $631.61 million. On average, equities analysts anticipate that Fortrea Holdings Inc. will post 0.51 earnings per share for the current year.
Insiders Place Their Bets
In other Fortrea news, CFO Jill G. Mcconnell sold 4,886 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $8.01, for a total value of $39,136.86. Following the transaction, the chief financial officer owned 54,770 shares in the company, valued at $438,707.70. The trade was a 8.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter M. Neupert bought 32,500 shares of the business's stock in a transaction dated Monday, August 11th. The stock was bought at an average price of $6.26 per share, for a total transaction of $203,450.00. Following the purchase, the director owned 98,132 shares in the company, valued at approximately $614,306.32. This represents a 49.52% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 10,207 shares of company stock worth $61,325 in the last quarter. 0.38% of the stock is currently owned by company insiders.
Fortrea Company Profile
(
Free Report)
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.
Further Reading
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