Fortrea Holdings Inc. $FTRE Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in Fortrea Holdings Inc. (NASDAQ:FTRE) by 26.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,224 shares of the company’s stock after selling 100,791 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Fortrea were worth $2,301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allworth Financial LP raised its holdings in shares of Fortrea by 6,802.4% in the second quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock valued at $28,000 after buying an additional 5,578 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Fortrea by 74.3% during the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after buying an additional 2,918 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Fortrea by 137.0% in the 2nd 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 period. Ameritas Investment Partners Inc. purchased a new stake in Fortrea during the 2nd quarter valued at approximately $46,000. Finally, Journey Strategic Wealth LLC acquired a new stake in Fortrea during the 2nd quarter worth approximately $50,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FTRE. Jefferies Financial Group increased their price target on Fortrea from $7.00 to $9.50 and gave the stock a “hold” rating in a report on Tuesday, September 9th. Wall Street Zen downgraded shares of Fortrea from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Mizuho lifted their target price on shares of Fortrea from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, December 18th. Citigroup upgraded shares of Fortrea from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $12.00 to $21.00 in a research note on Thursday, December 11th. Finally, Evercore ISI set a $14.00 price objective on shares of Fortrea in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.28.

Fortrea Price Performance

Shares of NASDAQ:FTRE opened at $17.91 on Wednesday. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -1.59, a price-to-earnings-growth ratio of 0.81 and a beta of 1.76. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50 day simple moving average is $12.38 and its 200-day simple moving average is $9.21. Fortrea Holdings Inc. has a 12 month low of $3.97 and a 12 month high of $20.26.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.04). The firm had revenue of $701.30 million for the quarter, compared to analyst estimates of $643.43 million. Fortrea had a positive return on equity of 5.64% and a negative net margin of 36.77%. As a group, equities analysts forecast that Fortrea Holdings Inc. will post 0.51 earnings per share for the current fiscal year.

Fortrea Company 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.