Janus Henderson Group PLC Has $825,000 Stock Holdings in Fortrea Holdings Inc. (NASDAQ:FTRE)

Janus Henderson Group PLC raised its position in Fortrea Holdings Inc. (NASDAQ:FTRE) by 2.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 41,292 shares of the company’s stock after buying an additional 792 shares during the quarter. Janus Henderson Group PLC’s holdings in Fortrea were worth $825,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Centiva Capital LP bought a new stake in shares of Fortrea in the third quarter worth $220,000. Atom Investors LP increased its stake in Fortrea by 9.1% in the 3rd quarter. Atom Investors LP now owns 42,504 shares of the company’s stock valued at $850,000 after buying an additional 3,531 shares during the last quarter. Starboard Value LP lifted its position in Fortrea by 5.0% during the 3rd quarter. Starboard Value LP now owns 8,400,000 shares of the company’s stock worth $168,000,000 after buying an additional 400,000 shares in the last quarter. Maverick Capital Ltd. acquired a new position in shares of Fortrea during the 3rd quarter worth about $1,694,000. Finally, PDT Partners LLC bought a new position in shares of Fortrea in the 3rd quarter valued at about $2,799,000.

Fortrea Stock Performance

NASDAQ FTRE opened at $20.00 on Friday. Fortrea Holdings Inc. has a 52-week low of $16.53 and a 52-week high of $41.02. The stock has a market cap of $1.79 billion, a PE ratio of -5.85, a P/E/G ratio of 2.94 and a beta of 1.16. The firm has a 50-day moving average of $19.65 and a 200-day moving average of $22.18. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.18.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $674.90 million for the quarter, compared to the consensus estimate of $674.86 million. Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. On average, sell-side analysts anticipate that Fortrea Holdings Inc. will post 0.57 EPS for the current year.

Analyst Ratings Changes

FTRE has been the subject of several recent research reports. Citigroup cut Fortrea from a “buy” rating to a “neutral” rating and reduced their price target for the company from $30.00 to $23.00 in a research report on Wednesday. Jefferies Financial Group downgraded Fortrea from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $21.00 in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Fortrea from $28.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, August 20th. TD Cowen increased their price target on shares of Fortrea from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Evercore ISI lowered their price objective on shares of Fortrea from $22.00 to $20.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.30.

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.