Eagle Health Investments LP Invests $8.33 Million in Fortrea Holdings Inc. $FTRE

Eagle Health Investments LP purchased a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 988,772 shares of the company’s stock, valued at approximately $8,325,000. Fortrea accounts for approximately 2.2% of Eagle Health Investments LP’s portfolio, making the stock its 17th biggest position. Eagle Health Investments LP owned approximately 1.09% of Fortrea as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FTRE. Allworth Financial LP increased its position in shares of Fortrea by 6,802.4% during the second quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock worth $28,000 after buying an additional 5,578 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Fortrea by 214.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $28,000 after acquiring an additional 2,278 shares in the last quarter. Osaic Holdings Inc. raised 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 worth $38,000 after purchasing an additional 2,918 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Fortrea by 137.0% in the 2nd 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. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Fortrea in the second quarter valued at about $46,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FTRE shares. Mizuho set a $15.00 price target on Fortrea in a research report on Friday, January 9th. Barclays set a $15.00 price target on shares of Fortrea and gave the company an “equal weight” rating in a research note on Monday, December 15th. Robert W. Baird set a $19.00 target price on Fortrea in a research note on Wednesday, January 14th. Truist Financial set a $22.00 price target on shares of Fortrea and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Wall Street Zen lowered Fortrea from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.75.

Fortrea Trading Down 0.9%

Shares of FTRE opened at $9.70 on Wednesday. Fortrea Holdings Inc. has a 1-year low of $3.97 and a 1-year high of $18.67. The firm’s 50-day moving average price is $16.01 and its 200-day moving average price is $12.16. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $896.28 million, a price-to-earnings ratio of -0.86, a PEG ratio of 0.29 and a beta of 1.59.

Fortrea Company 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.