Natixis Advisors L.P. Makes New $10.71 Million Investment in Fortrea Holdings Inc. (NASDAQ:FTRE)

Natixis Advisors L.P. purchased a new position in Fortrea Holdings Inc. (NASDAQ:FTRE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 306,906 shares of the company’s stock, valued at approximately $10,711,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new position in Fortrea in the 4th quarter valued at about $25,000. Whittier Trust Co. acquired a new position in shares of Fortrea in the fourth quarter valued at approximately $25,000. ZRC Wealth Management LLC acquired a new position in shares of Fortrea in the fourth quarter valued at approximately $27,000. Allworth Financial LP purchased a new position in shares of Fortrea during the fourth quarter valued at approximately $28,000. Finally, Clean Yield Group acquired a new stake in Fortrea during the fourth quarter worth approximately $30,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FTRE. Barclays cut their price target on Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on Fortrea in a research note on Wednesday, March 6th. They issued a “hold” rating and a $36.00 target price for the company. Finally, Robert W. Baird started coverage on Fortrea in a research note on Friday, March 22nd. They issued a “neutral” rating and a $43.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.29.

Fortrea Stock Performance

Shares of Fortrea stock opened at $36.47 on Wednesday. The business’s fifty day moving average price is $37.99 and its 200 day moving average price is $34.06. Fortrea Holdings Inc. has a twelve month low of $24.92 and a twelve month high of $41.02. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.90.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings data on Monday, March 11th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $775.40 million during the quarter, compared to analyst estimates of $779.09 million. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts expect that Fortrea Holdings Inc. will post 1.06 EPS for the current fiscal year.

About Fortrea

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.