Natixis Advisors L.P. Takes Position in Fortrea Holdings Inc. (NASDAQ:FTRE)

Natixis Advisors L.P. bought a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 306,906 shares of the company’s stock, valued at approximately $10,711,000. Natixis Advisors L.P. owned 0.35% of Fortrea as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cohen Capital Management Inc. purchased a new stake in Fortrea in the 4th quarter worth approximately $1,873,000. New York State Teachers Retirement System purchased a new stake in Fortrea during the fourth quarter worth $3,913,000. Mutual of America Capital Management LLC purchased a new stake in Fortrea during the fourth quarter worth $9,739,000. Willis Investment Counsel acquired a new stake in Fortrea during the fourth quarter valued at $6,286,000. Finally, Nisa Investment Advisors LLC purchased a new position in Fortrea in the fourth quarter valued at $1,023,000.

Analyst Upgrades and Downgrades

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

Fortrea Trading Up 0.4 %

NASDAQ FTRE opened at $36.47 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.62 and a current ratio of 1.62. The stock’s 50 day simple moving average is $37.99 and its 200-day simple moving average is $34.06. Fortrea Holdings Inc. has a 1-year low of $24.92 and a 1-year high of $41.02.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings data on Monday, March 11th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). The company had revenue of $775.40 million for the quarter, compared to the consensus estimate of $779.09 million. Fortrea’s revenue was up 1.8% on a year-over-year basis. Research analysts anticipate that Fortrea Holdings Inc. will post 1.06 earnings per share for the current 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.