17,619 Shares in Fortrea Holdings Inc. (NASDAQ:FTRE) Bought by Corient Private Wealth LLC

Corient Private Wealth LLC acquired a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTREFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,619 shares of the company’s stock, valued at approximately $615,000.

Several other large investors have also modified their holdings of the company. D.A. Davidson & CO. bought a new stake in shares of Fortrea during the 4th quarter worth $205,000. Mckinley Capital Management LLC bought a new stake in shares of Fortrea during the 4th quarter worth $2,434,000. PNC Financial Services Group Inc. bought a new stake in shares of Fortrea during the 4th quarter worth $750,000. Norges Bank bought a new stake in shares of Fortrea during the 4th quarter worth $26,913,000. Finally, Manchester Capital Management LLC bought a new stake in Fortrea in the 4th quarter valued at $144,000.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Mizuho assumed coverage on shares of Fortrea in a report on Tuesday, May 28th. They issued a “neutral” rating and a $27.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Fortrea from $36.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, May 23rd. Robert W. Baird raised shares of Fortrea from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $45.00 to $36.00 in a report on Tuesday, May 14th. TD Cowen assumed coverage on shares of Fortrea in a report on Wednesday, May 29th. They issued a “hold” rating and a $27.00 price target for the company. Finally, Evercore ISI reduced their price target on shares of Fortrea from $43.00 to $31.00 and set an “outperform” rating for the company in a report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.78.

Check Out Our Latest Stock Analysis on FTRE

Fortrea Trading Up 9.9 %

Shares of FTRE stock opened at $27.35 on Thursday. Fortrea Holdings Inc. has a 52-week low of $24.18 and a 52-week high of $41.02. The stock has a market cap of $2.45 billion and a price-to-earnings ratio of -19.68. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a fifty day moving average of $33.74 and a 200-day moving average of $33.81.

Fortrea (NASDAQ:FTREGet Free Report) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter. Fortrea had a negative net margin of 4.11% and a positive return on equity of 4.76%. The business had revenue of $662.10 million during the quarter, compared to analyst estimates of $754.58 million. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities research analysts forecast that Fortrea Holdings Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Thomas Pike bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average price of $24.81 per share, for a total transaction of $248,100.00. Following the transaction, the chief executive officer now directly owns 57,827 shares of the company’s stock, valued at approximately $1,434,687.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.12% of the stock is currently owned by corporate insiders.

About Fortrea

(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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Institutional Ownership by Quarter for Fortrea (NASDAQ:FTRE)

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