Fortrea Holdings Inc. $FTRE Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 65.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 692,702 shares of the company’s stock after purchasing an additional 274,209 shares during the period. JPMorgan Chase & Co. owned about 0.75% of Fortrea worth $5,833,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Fortrea by 48.9% in the 1st quarter. Royal Bank of Canada now owns 121,707 shares of the company’s stock worth $920,000 after buying an additional 39,944 shares in the last quarter. Caxton Associates LLP purchased a new position in Fortrea in the first quarter valued at about $196,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Fortrea by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 282,780 shares of the company’s stock valued at $2,135,000 after purchasing an additional 27,746 shares in the last quarter. Focus Partners Wealth purchased a new stake in Fortrea during the 1st quarter worth approximately $80,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Fortrea in the 1st quarter valued at approximately $65,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FTRE shares. Citigroup upgraded shares of Fortrea from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $21.00 in a research note on Thursday, December 11th. Barclays dropped their target price on shares of Fortrea from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a research note on Thursday, January 22nd. TD Cowen raised Fortrea from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Monday, March 9th. Finally, Robert W. Baird reduced their target price on Fortrea from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.15.

Fortrea Price Performance

Shares of NASDAQ:FTRE opened at $9.42 on Wednesday. The company has a market cap of $880.77 million, a PE ratio of -0.86, a P/E/G ratio of 0.32 and a beta of 1.80. Fortrea Holdings Inc. has a fifty-two week low of $3.97 and a fifty-two week high of $18.67. The firm has a 50-day simple moving average of $11.80 and a 200 day simple moving average of $12.41. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86.

Fortrea (NASDAQ:FTRE) last issued its earnings results on Thursday, February 26th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The company had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.22 million. Fortrea had a negative net margin of 36.21% and a positive return on equity of 6.23%. On average, sell-side analysts anticipate that Fortrea Holdings Inc. will post 0.51 EPS for the current year.

Insider Transactions at Fortrea

In related news, CFO Jill G. Mcconnell sold 5,061 shares of the business’s 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 owned 69,796 shares in the company, valued at $633,049.72. The trade was a 6.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 9,673 shares of company stock worth $92,242. Insiders own 0.38% of the company’s stock.

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.