2,352 Shares in Fortrea Holdings Inc. (NASDAQ:FTRE) Purchased by Cwm LLC

Cwm LLC purchased a new stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,352 shares of the company’s stock, valued at approximately $82,000.

A number of other hedge funds also recently added to or reduced their stakes in FTRE. Banyan Capital Management Inc. bought a new stake in shares of Fortrea in the 4th quarter worth $816,000. Daymark Wealth Partners LLC purchased a new position in Fortrea in the fourth quarter worth about $254,000. Nordea Investment Management AB purchased a new position in Fortrea in the fourth quarter worth about $747,000. Raymond James Trust N.A. bought a new stake in shares of Fortrea during the 4th quarter valued at about $363,000. Finally, FORVIS Wealth Advisors LLC bought a new position in shares of Fortrea in the 4th quarter worth approximately $244,000.

Wall Street Analysts Forecast Growth

FTRE has been the subject of several analyst reports. Barclays reduced their price objective on Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Robert W. Baird initiated coverage on Fortrea in a research report on Friday, March 22nd. They set a “neutral” rating and a $43.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Fortrea in a report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 target price for the company. One investment 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. Based on data from MarketBeat, Fortrea presently has a consensus rating of “Hold” and a consensus target price of $37.29.

Fortrea Stock Performance

Shares of FTRE opened at $36.47 on Wednesday. The business’s 50 day moving average is $37.99 and its 200 day moving average is $34.06. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.62 and a quick ratio of 1.62. Fortrea Holdings Inc. has a 12-month low of $24.92 and a 12-month high of $41.02.

Fortrea (NASDAQ:FTRE) last released 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 firm had revenue of $775.40 million for the quarter, compared to analysts’ expectations of $779.09 million. The company’s revenue was up 1.8% on a year-over-year basis. Equities research analysts expect that Fortrea Holdings Inc. will post 1.06 EPS for the current fiscal year.

Fortrea 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.