Exencial Wealth Advisors LLC Makes New $336,000 Investment in Fortrea Holdings Inc. (NASDAQ:FTRE)

Exencial Wealth Advisors LLC purchased a new position in Fortrea Holdings Inc. (NASDAQ:FTREFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,630 shares of the company’s stock, valued at approximately $336,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Fortrea in the 4th quarter worth approximately $25,000. Whittier Trust Co. purchased a new position in Fortrea in the 4th quarter worth approximately $25,000. ZRC Wealth Management LLC purchased a new position in Fortrea in the 4th quarter worth approximately $27,000. Allworth Financial LP purchased a new position in Fortrea in the 4th quarter worth approximately $28,000. Finally, Glassman Wealth Services purchased a new position in Fortrea in the 4th quarter worth approximately $28,000.

Insider Transactions at Fortrea

In related news, CEO Thomas Pike bought 10,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average cost of $24.81 per share, with a total value of $248,100.00. Following the transaction, the chief executive officer now owns 57,827 shares in the company, valued at approximately $1,434,687.87. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Fortrea Trading Down 4.0 %

NASDAQ:FTRE opened at $26.51 on Friday. The company has a fifty day moving average of $32.96 and a 200 day moving average of $33.69. Fortrea Holdings Inc. has a 52 week low of $24.18 and a 52 week high of $41.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $2.37 billion and a P/E ratio of -19.07.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FTRE shares. The Goldman Sachs Group assumed coverage on shares of Fortrea in a research note on Thursday. They issued a “neutral” rating and a $28.00 price target for the company. Mizuho assumed coverage on shares of Fortrea in a research note on Tuesday, May 28th. They issued a “neutral” rating and a $27.00 price objective for the company. Baird R W raised shares of Fortrea from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Fortrea from $36.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, May 23rd. Finally, Bank of America cut their price objective on shares of Fortrea from $33.00 to $27.00 and set an “underperform” rating for the company in a research note on Tuesday, May 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.30.

View Our Latest Research Report on Fortrea

Fortrea Company Profile

(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.

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Institutional Ownership by Quarter for Fortrea (NASDAQ:FTRE)

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