Fortrea HoldingsFTRE
Market Cap: $1.8B
About: Fortrea Holdings is a late-stage contract research organization, or CRO, that provides comprehensive Phase I through IV clinical trial management, clinical pharmacology, and patient access solutions. The company works with emerging and large biopharma, medical device, and diagnostic companies to run their clinical trials as a functional-service provider, full-service provider, and offers hybrid trials. In 2023, Fortrea was formed as an independent, publicly traded company after Labcorp spun off its clinical development business, which it acquired via its purchase of Covance in 2015 for $6.1 billion. Fortrea has 19,000 staff members across 90 countries.
Employees: 16,000
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
21% more call options, than puts
Call options by funds: $11.3M | Put options by funds: $9.34M
10.65% more ownership
Funds ownership: 103.46% [Q1] → 114.11% (+10.65%) [Q2]
0% more funds holding in top 10
Funds holding in top 10: 3 [Q1] → 3 (+0) [Q2]
9% less funds holding
Funds holding: 421 [Q1] → 383 (-38) [Q2]
34% less repeat investments, than reductions
Existing positions increased: 98 | Existing positions reduced: 148
36% less capital invested
Capital invested by funds: $3.71B [Q1] → $2.38B (-$1.33B) [Q2]
42% less first-time investments, than exits
New positions opened: 52 | Existing positions closed: 90
Research analyst outlook
10 Wall Street Analysts provided 1 year price targets over the past 3 months
10 analyst ratings
Deutsche Bank Justin Bowers 100% 1-year accuracy 3 / 3 met price target | 14%upside $23 | Hold Maintained | 20 Aug 2024 |
TD Cowen Charles Rhyee 29% 1-year accuracy 2 / 7 met price target | 14%upside $23 | Hold Maintained | 13 Aug 2024 |
B of A Securities Derik De Bruin 78% 1-year accuracy 7 / 9 met price target | 5%upside $21 | Underperform Maintained | 13 Aug 2024 |
Citigroup Patrick Donnelly 67% 1-year accuracy 12 / 18 met price target | 49%upside $30 | Buy Maintained | 13 Aug 2024 |
Barclays Luke Sergott 65% 1-year accuracy 22 / 34 met price target | 5%upside $21 | Equal-Weight Maintained | 13 Aug 2024 |
Financial journalist opinion
Based on 4 articles about FTRE published over the past 30 days