Hsbc Holdings PLC Has $505,000 Stake in Fortrea Holdings Inc. $FTRE

Hsbc Holdings PLC reduced its position in Fortrea Holdings Inc. (NASDAQ:FTRE) by 56.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,036 shares of the company’s stock after selling 38,199 shares during the period. Hsbc Holdings PLC’s holdings in Fortrea were worth $505,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FTRE. Larson Financial Group LLC increased its stake in Fortrea by 136.7% during the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Fortrea by 74.3% in the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock valued at $38,000 after buying an additional 2,918 shares in the last quarter. Tower Research Capital LLC TRC grew 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 valued at $43,000 after buying an additional 5,036 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of Fortrea during the fourth quarter valued at about $51,000. Finally, Allworth Financial LP increased its position in shares of Fortrea by 19.6% during the third quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock worth $57,000 after acquiring an additional 1,109 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Fortrea from a “hold” rating to a “buy” rating in a report on Monday. TD Cowen reiterated a “buy” rating on shares of Fortrea in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a report on Tuesday, April 21st. Citigroup increased their price objective on Fortrea from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Robert W. Baird set a $20.00 target price on Fortrea in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.75.

Fortrea Stock Performance

NASDAQ FTRE opened at $17.92 on Friday. The company has a fifty day moving average price of $15.95 and a 200-day moving average price of $13.67. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -3.65, a PEG ratio of 0.54 and a beta of 2.03. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.95 and a quick ratio of 0.95. Fortrea Holdings Inc. has a 1 year low of $4.45 and a 1 year high of $18.67.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. Fortrea had a negative net margin of 16.50% and a positive return on equity of 9.51%. The company had revenue of $636.50 million for the quarter, compared to analyst estimates of $628.50 million. As a group, equities research analysts predict that Fortrea Holdings Inc. will post 0.8 EPS for the current fiscal year.

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.