Natixis Advisors L.P. Invests $10.71 Million in Fortrea Holdings Inc. (NASDAQ:FTRE)

Natixis Advisors L.P. purchased a new position in Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 306,906 shares of the company's stock, valued at approximately $10,711,000. Natixis Advisors L.P. owned approximately 0.35% of Fortrea at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Penn Davis Mcfarland Inc. purchased a new stake in Fortrea in the fourth quarter valued at approximately $18,810,000. New York State Common Retirement Fund purchased a new position in Fortrea in the fourth quarter worth $17,918,000. Victory Capital Management Inc. purchased a new position in Fortrea in the fourth quarter worth $16,645,000. Truist Financial Corp bought a new position in Fortrea in the fourth quarter valued at $16,402,000. Finally, Mutual of America Capital Management LLC purchased a new stake in Fortrea during the fourth quarter valued at about $9,739,000.

Fortrea Stock Performance

Shares of Fortrea stock traded down $0.97 on Wednesday, hitting $35.50. The stock had a trading volume of 1,028,488 shares, compared to its average volume of 875,956. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.90. Fortrea Holdings Inc. has a one year low of $24.92 and a one year high of $41.02. The stock's 50-day simple moving average is $37.99 and its two-hundred day simple moving average is $34.06.

Fortrea (NASDAQ:FTRE - Get Free Report) last issued its quarterly earnings data on Monday, March 11th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $775.40 million for the quarter, compared to analysts' expectations of $779.09 million. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts predict that Fortrea Holdings Inc. will post 1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FTRE has been the topic of several recent research reports. Robert W. Baird assumed coverage on Fortrea in a research report on Friday, March 22nd. They set a "neutral" rating and a $43.00 price objective on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortrea in a research note on Wednesday, March 6th. They set a "hold" rating and a $36.00 price target on the stock. Finally, Barclays lowered their price objective on shares of Fortrea from $38.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Fortrea presently has a consensus rating of "Hold" and an average target price of $37.29.

About Fortrea

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.