Eagle Health Investments LP Purchases 229,788 Shares of Fortrea Holdings Inc. $FTRE

Eagle Health Investments LP boosted its position in Fortrea Holdings Inc. (NASDAQ:FTRE) by 23.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,218,560 shares of the company’s stock after purchasing an additional 229,788 shares during the quarter. Fortrea comprises approximately 4.6% of Eagle Health Investments LP’s portfolio, making the stock its 9th largest holding. Eagle Health Investments LP’s holdings in Fortrea were worth $21,020,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FTRE. Larson Financial Group LLC raised its position in Fortrea by 136.7% in the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after buying an additional 1,072 shares during the last quarter. Osaic Holdings Inc. raised its position in Fortrea by 74.3% in the 2nd quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock valued at $38,000 after buying an additional 2,918 shares during the last quarter. Tower Research Capital LLC TRC raised 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 buying an additional 5,036 shares during the last quarter. Allworth Financial LP raised its position in Fortrea by 19.6% in the 3rd quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock valued at $57,000 after buying an additional 1,109 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Fortrea by 662.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,963 shares of the company’s stock valued at $59,000 after buying an additional 10,395 shares during the last quarter.

Fortrea Stock Down 0.1%

FTRE stock opened at $13.70 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.98. The business has a 50 day moving average price of $10.86 and a two-hundred day moving average price of $12.82. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -2.79, a P/E/G ratio of 0.42 and a beta of 1.92. Fortrea Holdings Inc. has a twelve month low of $3.97 and a twelve month high of $18.67.

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

Insider Activity at Fortrea

In other news, CFO Jill G. Mcconnell sold 5,061 shares of Fortrea stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total transaction of $45,903.27. Following the completion of the transaction, the chief financial officer directly owned 69,796 shares in the company, valued at approximately $633,049.72. The trade was a 6.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 8,792 shares of company stock worth $80,014. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

FTRE has been the subject of a number of analyst reports. Mizuho raised their price target on Fortrea from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Fortrea in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $14.00 price target on shares of Fortrea in a research note on Thursday, May 7th. Robert W. Baird set a $20.00 price target on Fortrea in a research note on Wednesday, May 6th. Finally, Citigroup raised their price target on Fortrea from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.25.

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.