Fortrea Holdings Inc. (NASDAQ:FTRE) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC increased its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) by 73.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 183,501 shares of the company's stock after purchasing an additional 78,010 shares during the period. Natixis Advisors LLC owned approximately 0.20% of Fortrea worth $3,670,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Sessa Capital IM L.P. lifted its holdings in Fortrea by 5.9% during the second quarter. Sessa Capital IM L.P. now owns 6,750,000 shares of the company's stock worth $157,545,000 after buying an additional 375,000 shares during the period. Boston Partners boosted its position in Fortrea by 3.2% during the first quarter. Boston Partners now owns 3,938,584 shares of the company's stock valued at $157,075,000 after purchasing an additional 121,126 shares in the last quarter. Baupost Group LLC MA grew its stake in Fortrea by 933.7% in the second quarter. Baupost Group LLC MA now owns 3,140,360 shares of the company's stock valued at $73,296,000 after purchasing an additional 2,836,563 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Fortrea by 59.3% in the second quarter. Victory Capital Management Inc. now owns 2,466,181 shares of the company's stock worth $57,561,000 after purchasing an additional 918,240 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its position in shares of Fortrea by 27.1% during the second quarter. Brandes Investment Partners LP now owns 2,438,159 shares of the company's stock valued at $56,845,000 after buying an additional 519,344 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently commented on FTRE. Citigroup decreased their target price on shares of Fortrea from $42.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, August 13th. Jefferies Financial Group lowered Fortrea from a "buy" rating to a "hold" rating and decreased their price objective for the company from $25.00 to $21.00 in a report on Wednesday, September 25th. TD Cowen upped their target price on Fortrea from $23.00 to $25.00 and gave the company a "hold" rating in a research report on Monday, November 11th. William Blair reissued a "market perform" rating on shares of Fortrea in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Fortrea from $28.00 to $23.00 and set a "hold" rating on the stock in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $24.50.

Fortrea Price Performance

Shares of FTRE traded up $0.23 during mid-day trading on Friday, hitting $19.73. 932,311 shares of the company were exchanged, compared to its average volume of 1,459,076. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -5.77, a price-to-earnings-growth ratio of 2.94 and a beta of 0.70. Fortrea Holdings Inc. has a 1-year low of $16.53 and a 1-year high of $41.02. The company has a 50 day moving average of $19.53 and a 200-day moving average of $22.83. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.18.

Fortrea (NASDAQ:FTRE - Get Free Report) last released its earnings results on Friday, November 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $674.90 million during the quarter, compared to analysts' expectations of $674.86 million. Fortrea had a negative net margin of 10.99% and a positive return on equity of 2.00%. The business's revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. Analysts expect that Fortrea Holdings Inc. will post 0.57 EPS for the current fiscal year.

Fortrea Company Profile

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.