Goldman Sachs Group Inc. Acquires 293,992 Shares of Fortrea Holdings Inc. $FTRE

Goldman Sachs Group Inc. lifted its holdings in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 3.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,272,597 shares of the company’s stock after purchasing an additional 293,992 shares during the period. Goldman Sachs Group Inc. owned 0.09% of Fortrea worth $142,702,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC raised its holdings in shares of Fortrea by 136.7% in the fourth 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. Mirae Asset Global Investments Co. Ltd. grew its holdings in Fortrea by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock worth $77,000 after acquiring an additional 980 shares during the last quarter. Allworth Financial LP increased 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 acquiring an additional 1,109 shares in the last quarter. Osaic Holdings Inc. increased 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 acquiring an additional 2,918 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Fortrea by 37.9% in the third quarter. Public Employees Retirement System of Ohio now owns 8,386 shares of the company’s stock worth $71,000 after acquiring an additional 2,303 shares during the last quarter.

Analyst Upgrades and Downgrades

FTRE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set 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 objective on Fortrea in a report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research note on Tuesday, April 21st. Barclays upped their price target on Fortrea from $11.00 to $16.00 and gave the company an “equal weight” rating 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 report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fortrea has a consensus rating of “Hold” and a consensus price target of $17.25.

Fortrea Stock Performance

Shares of NASDAQ FTRE opened at $16.08 on Monday. Fortrea Holdings Inc. has a fifty-two week low of $4.36 and a fifty-two week high of $18.67. The firm has a market capitalization of $1.52 billion, a P/E ratio of -3.27, a P/E/G ratio of 0.49 and a beta of 2.12. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50 day simple moving average is $12.13 and its 200 day simple moving average is $13.15.

Fortrea (NASDAQ:FTRE) last released its earnings results on Tuesday, May 5th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. The firm had revenue of $636.50 million during 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%. On average, analysts predict that Fortrea Holdings Inc. will post 0.8 EPS for the current year.

Insider Activity at Fortrea

In related news, CFO Jill G. Mcconnell sold 5,061 shares of Fortrea stock in a transaction 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 sale, the chief financial officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 8,792 shares of company stock worth $80,014 over the last ninety days. 0.73% of the stock is owned by insiders.

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.