BNP Paribas Financial Markets Purchases 152,358 Shares of Fortrea Holdings Inc. $FTRE

BNP Paribas Financial Markets increased its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 29.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 673,737 shares of the company’s stock after buying an additional 152,358 shares during the period. BNP Paribas Financial Markets’ holdings in Fortrea were worth $11,622,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FTRE. Larson Financial Group LLC grew its holdings in Fortrea by 136.7% in the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after purchasing an additional 1,072 shares during the period. Osaic Holdings Inc. grew its holdings in Fortrea by 74.3% in the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after purchasing an additional 2,918 shares during the period. Tower Research Capital LLC TRC grew its holdings in Fortrea by 137.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock worth $43,000 after purchasing an additional 5,036 shares during the period. Allworth Financial LP grew its holdings in Fortrea by 19.6% in the third quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock worth $57,000 after purchasing an additional 1,109 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Fortrea by 662.9% in the second quarter. EverSource Wealth Advisors LLC now owns 11,963 shares of the company’s stock worth $59,000 after purchasing an additional 10,395 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TD Cowen restated a “buy” rating on shares of Fortrea in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Fortrea in a report on Tuesday, April 21st. Robert W. Baird set a $20.00 price objective on shares of Fortrea in a report on Wednesday, May 6th. Barclays lifted their price objective on shares of Fortrea from $11.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Citigroup lifted their price objective on shares of Fortrea from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Fortrea presently has a consensus rating of “Hold” and an average price target of $17.25.

Insider Activity

In other news, CFO Jill G. Mcconnell sold 5,061 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $9.07, for a total value of $45,903.27. Following the sale, the chief financial officer owned 69,796 shares of the company’s stock, valued at $633,049.72. The trade was a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 8,792 shares of company stock valued at $80,014 over the last 90 days. Insiders own 0.73% of the company’s stock.

Fortrea Price Performance

Fortrea stock opened at $16.08 on Monday. The stock has a market cap of $1.52 billion, a PE ratio of -3.27, a price-to-earnings-growth ratio of 0.49 and a beta of 2.12. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.95 and a current ratio of 0.95. Fortrea Holdings Inc. has a fifty-two week low of $4.36 and a fifty-two week high of $18.67. The firm’s 50-day simple moving average is $12.13 and its 200 day simple moving average is $13.15.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.03 by $0.13. The business had revenue of $636.50 million for the quarter, compared to analyst estimates of $628.51 million. Fortrea had a negative net margin of 16.50% and a positive return on equity of 9.51%. Research analysts predict that Fortrea Holdings Inc. will post 0.8 EPS for the current fiscal year.

About Fortrea

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.