2,384,349 Shares in Fortrea Holdings Inc. $FTRE Bought by Wellington Management Group LLP

Wellington Management Group LLP acquired a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,384,349 shares of the company’s stock, valued at approximately $41,488,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its position in shares of Fortrea by 1.7% during the 4th quarter. Sanctuary Advisors LLC now owns 36,648 shares of the company’s stock worth $632,000 after buying an additional 627 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Fortrea by 3.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,166 shares of the company’s stock valued at $365,000 after acquiring an additional 700 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Fortrea by 9.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,936 shares of the company’s stock worth $103,000 after acquiring an additional 953 shares during the last quarter. Larson Financial Group LLC grew its holdings in 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. Finally, Public Employees Retirement System of Ohio increased its stake in Fortrea by 15.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,699 shares of the company’s stock valued at $167,000 after purchasing an additional 1,313 shares in the last quarter.

Fortrea Price Performance

FTRE stock opened at $18.62 on Friday. The stock has a 50-day moving average price of $18.28 and a two-hundred day moving average price of $14.28. Fortrea Holdings Inc. has a 1 year low of $8.31 and a 1 year high of $21.39. The stock has a market cap of $1.77 billion, a PE ratio of -20.46, a price-to-earnings-growth ratio of 0.44 and a beta of 1.97. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.98.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The company had revenue of $678.20 million for the quarter, compared to analyst estimates of $647.57 million. Fortrea had a positive return on equity of 10.72% and a negative net margin of 3.18%. Equities analysts forecast that Fortrea Holdings Inc. will post 0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FTRE shares. Evercore reissued an “outperform” rating on shares of Fortrea in a research report on Wednesday, July 29th. Zacks Research downgraded Fortrea from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Citigroup boosted their target price on Fortrea from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, July 31st. William Blair raised Fortrea to a “hold” rating in a research report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $20.00 price objective on shares of Fortrea in a research report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.75.

Insider Buying and Selling

In other Fortrea news, CEO Anshul Thakral sold 99,869 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $19.16, for a total value of $1,913,490.04. Following the sale, the chief executive officer owned 316,797 shares in the company, valued at approximately $6,069,830.52. The trade was a 23.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.73% 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.