Sterling Capital Management LLC cut its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) by 65.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,215 shares of the company's stock after selling 218,141 shares during the period. Sterling Capital Management LLC owned approximately 0.13% of Fortrea worth $2,111,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in FTRE. Vanguard Group Inc. increased its holdings in shares of Fortrea by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 9,884,256 shares of the company's stock worth $184,341,000 after buying an additional 120,599 shares during the last quarter. FMR LLC raised its position in Fortrea by 67.7% during the fourth quarter. FMR LLC now owns 8,086,806 shares of the company's stock valued at $150,819,000 after purchasing an additional 3,265,402 shares during the period. State Street Corp lifted its stake in shares of Fortrea by 7.7% in the 3rd quarter. State Street Corp now owns 3,250,693 shares of the company's stock valued at $65,014,000 after purchasing an additional 233,577 shares during the last quarter. Geode Capital Management LLC raised its holdings in Fortrea by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,502,546 shares of the company's stock valued at $30,059,000 after buying an additional 20,825 shares during the period. Finally, Penn Davis Mcfarland Inc. lifted its position in Fortrea by 0.8% in the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,106,080 shares of the company's stock worth $20,628,000 after buying an additional 8,884 shares during the last quarter.
Fortrea Stock Up 5.4 %
Shares of NASDAQ:FTRE traded up $0.27 during trading on Friday, reaching $5.29. The stock had a trading volume of 2,177,985 shares, compared to its average volume of 1,611,043. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $477.16 million, a P/E ratio of -1.55, a PEG ratio of 1.78 and a beta of 2.10. The firm's 50-day simple moving average is $9.76 and its 200 day simple moving average is $15.72. Fortrea Holdings Inc. has a one year low of $4.77 and a one year high of $38.04.
Fortrea (NASDAQ:FTRE - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.18). Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. The company had revenue of $697.00 million for the quarter, compared to analyst estimates of $703.22 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. As a group, research analysts expect that Fortrea Holdings Inc. will post 0.51 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Robert W. Baird set a $12.00 price objective on shares of Fortrea in a research note on Tuesday, March 4th. William Blair reiterated a "market perform" rating on shares of Fortrea in a research report on Tuesday, March 4th. Mizuho cut their price target on shares of Fortrea from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group decreased their price objective on shares of Fortrea from $22.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Evercore ISI dropped their target price on shares of Fortrea from $20.00 to $15.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, Fortrea presently has an average rating of "Hold" and an average price target of $16.70.
Read Our Latest Stock Report on FTRE
About Fortrea
(
Free Report)
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.
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