UBS Group AG Sells 546,488 Shares of Fortrea Holdings Inc. $FTRE

UBS Group AG trimmed its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 66.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 274,055 shares of the company’s stock after selling 546,488 shares during the period. UBS Group AG’s holdings in Fortrea were worth $4,727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Osaic Holdings Inc. raised its stake in shares of Fortrea by 74.3% during the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock valued at $38,000 after acquiring an additional 2,918 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Fortrea by 137.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock valued at $43,000 after acquiring an additional 5,036 shares during the last quarter. Allworth Financial LP raised its stake in shares of Fortrea by 19.6% during the third quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock valued at $57,000 after acquiring an additional 1,109 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Fortrea by 662.9% during the second quarter. EverSource Wealth Advisors LLC now owns 11,963 shares of the company’s stock valued at $59,000 after acquiring an additional 10,395 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in Fortrea in the second quarter worth about $60,000.

Insiders Place Their Bets

In other Fortrea news, CFO Jill G. Mcconnell sold 5,061 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $9.07, for a total value of $45,903.27. Following the sale, the chief financial officer owned 69,796 shares in the company, valued at approximately $633,049.72. This represents a 6.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 8,792 shares of company stock valued at $80,014 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Fortrea Price Performance

Shares of FTRE opened at $13.14 on Friday. The stock has a market cap of $1.24 billion, a PE ratio of -2.68, a price-to-earnings-growth ratio of 0.42 and a beta of 1.92. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.95 and a current ratio of 0.95. Fortrea Holdings Inc. has a fifty-two week low of $3.97 and a fifty-two week high of $18.67. The firm’s 50-day simple moving average is $10.95 and its two-hundred day simple moving average is $12.84.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings data 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 business had revenue of $636.50 million for the quarter, compared to analysts’ expectations of $628.51 million. Fortrea had a negative net margin of 16.50% and a positive return on equity of 9.51%. Analysts anticipate that Fortrea Holdings Inc. will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $14.00 price target on shares of Fortrea in a research note on Thursday, May 7th. Barclays increased their price target on shares of Fortrea from $11.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Truist Financial set a $19.00 price target on shares of Fortrea in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research note on Tuesday, April 21st. Finally, Mizuho increased their price target on shares of Fortrea from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Fortrea presently has a consensus rating of “Hold” and a consensus price target of $17.25.

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.