MUFG Securities EMEA plc Has $2.50 Million Holdings in Fortrea Holdings Inc. $FTRE

MUFG Securities EMEA plc decreased its stake in Fortrea Holdings Inc. (NASDAQ:FTRE) by 70.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,000 shares of the company’s stock after selling 342,000 shares during the quarter. MUFG Securities EMEA plc owned approximately 0.16% of Fortrea worth $2,501,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FTRE. Royal Bank of Canada boosted its stake in Fortrea by 48.9% in the 1st quarter. Royal Bank of Canada now owns 121,707 shares of the company’s stock valued at $920,000 after buying an additional 39,944 shares in the last quarter. Caxton Associates LLP acquired a new stake in Fortrea in the 1st quarter valued at $196,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Fortrea by 10.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 282,780 shares of the company’s stock valued at $2,135,000 after buying an additional 27,746 shares in the last quarter. Focus Partners Wealth acquired a new stake in Fortrea in the 1st quarter valued at $80,000. Finally, Acadian Asset Management LLC acquired a new stake in Fortrea in the 1st quarter valued at $65,000.

Wall Street Analysts Forecast Growth

FTRE has been the topic of several recent analyst reports. Robert W. Baird set a $20.00 price target on Fortrea in a research note on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating on shares of Fortrea in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fortrea in a research note on Tuesday, April 21st. Mizuho lifted their price objective on Fortrea from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Finally, Barclays lifted their price objective on Fortrea from $11.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.25.

Fortrea Trading Up 2.4%

FTRE stock opened at $15.76 on Tuesday. The company has a market cap of $1.49 billion, a P/E ratio of -3.21, a PEG ratio of 0.47 and a beta of 1.92. Fortrea Holdings Inc. has a twelve month low of $3.97 and a twelve month high of $18.67. 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 business has a fifty day moving average of $11.61 and a 200-day moving average of $13.00.

Fortrea (NASDAQ:FTRE) last released its earnings results 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 company had revenue of $636.50 million during the quarter, compared to the consensus estimate of $628.51 million. Fortrea had a positive return on equity of 9.51% and a negative net margin of 16.50%. As a group, equities research analysts expect that Fortrea Holdings Inc. will post 0.8 EPS for the current year.

Insider Buying and Selling at Fortrea

In other news, CFO Jill G. Mcconnell sold 5,061 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total transaction of $45,903.27. Following the completion of the sale, the chief financial officer owned 69,796 shares in the company, valued at $633,049.72. The trade was a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 8,792 shares of company stock worth $80,014 in the last ninety days. Insiders own 0.38% of the company’s stock.

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.