Fortrea Holdings Inc. $FTRE Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System boosted its holdings in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 51.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 132,369 shares of the company’s stock after buying an additional 44,882 shares during the quarter. California State Teachers Retirement System’s holdings in Fortrea were worth $1,247,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Larson Financial Group LLC boosted its holdings in shares of Fortrea by 136.7% in the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after acquiring an additional 1,072 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Fortrea by 74.3% during the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after purchasing an additional 2,918 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Fortrea by 137.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock worth $43,000 after purchasing an additional 5,036 shares during the last quarter. Toronto Dominion Bank acquired a new position in Fortrea during the fourth quarter valued at $51,000. Finally, EverSource Wealth Advisors LLC lifted its position in Fortrea by 662.9% during the second quarter. EverSource Wealth Advisors LLC now owns 11,963 shares of the company’s stock valued at $59,000 after purchasing an additional 10,395 shares during the period.

Analyst Ratings Changes

Several equities research analysts have weighed in on FTRE shares. William Blair raised Fortrea to a “hold” rating in a research report on Wednesday, July 29th. Truist Financial lifted their price objective on Fortrea from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Citigroup boosted their price objective on Fortrea from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Fortrea in a research note on Friday, July 17th. Finally, Barclays raised their target price on Fortrea from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Fortrea presently has an average rating of “Hold” and a consensus price target of $20.75.

Fortrea Stock Performance

FTRE opened at $17.82 on Friday. The firm has a fifty day moving average price of $17.70 and a 200 day moving average price of $13.92. Fortrea Holdings Inc. has a 1 year low of $7.40 and a 1 year high of $21.39. The stock has a market cap of $1.69 billion, a P/E ratio of -19.58, a P/E/G ratio of 0.44 and a beta of 1.99. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.96 and a quick ratio of 0.96.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. Fortrea had a negative net margin of 3.18% and a positive return on equity of 10.72%. The company had revenue of $678.20 million for the quarter, compared to analyst estimates of $647.57 million. Equities research analysts anticipate that Fortrea Holdings Inc. will post 0.85 earnings per share for the current year.

Insider Activity

In other news, CEO Anshul Thakral sold 99,869 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $19.16, for a total transaction of $1,913,490.04. Following the sale, the chief executive officer directly owned 316,797 shares in the company, valued at $6,069,830.52. This trade represents a 23.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.73% of the stock is currently owned by insiders.

Fortrea 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.