988,772 Shares in Fortrea Holdings Inc. $FTRE Acquired by Eagle Health Investments LP

Eagle Health Investments LP purchased a new stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 988,772 shares of the company’s stock, valued at approximately $8,325,000. Fortrea comprises approximately 2.2% of Eagle Health Investments LP’s portfolio, making the stock its 17th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in FTRE. Nisa Investment Advisors LLC increased its holdings in shares of Fortrea by 214.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $28,000 after purchasing an additional 2,278 shares in the last quarter. Allworth Financial LP raised its position in Fortrea by 6,802.4% in the second quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock worth $28,000 after acquiring an additional 5,578 shares during the period. GAMMA Investing LLC raised its holdings in Fortrea by 88.2% in the 3rd quarter. GAMMA Investing LLC now owns 6,043 shares of the company’s stock worth $51,000 after purchasing an additional 2,832 shares during the period. Osaic Holdings Inc. raised its stake in shares of 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 buying an additional 2,918 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Fortrea during the 1st quarter worth approximately $65,000.

Fortrea Stock Down 0.9%

Fortrea stock opened at $9.70 on Wednesday. Fortrea Holdings Inc. has a 1-year low of $3.97 and a 1-year high of $18.67. The stock has a market capitalization of $896.28 million, a price-to-earnings ratio of -0.86, a PEG ratio of 0.29 and a beta of 1.59. 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 has a fifty day moving average price of $16.01 and a 200-day moving average price of $12.16.

Analyst Upgrades and Downgrades

A number of research firms have commented on FTRE. Wedbush set a $21.00 price target on Fortrea in a report on Thursday, December 11th. Wall Street Zen lowered shares of Fortrea from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a research report on Thursday, January 22nd. Citigroup upgraded Fortrea from a “neutral” rating to a “buy” rating and boosted their price target for the company from $12.00 to $21.00 in a report on Thursday, December 11th. Finally, Mizuho set a $15.00 price objective on shares of Fortrea in a research note on Friday, January 9th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Fortrea currently has a consensus rating of “Hold” and an average target price of $16.75.

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.