Fortrea HoldingsFTRE
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
10.67% more ownership
Funds ownership: 103.46% [Q1] → 114.13% (+10.67%) [Q2]
0% more funds holding in top 10
Funds holding in top 10: 3 [Q1] → 3 (+0) [Q2]
9% less funds holding
Funds holding: 422 [Q1] → 386 (-36) [Q2]
34% less repeat investments, than reductions
Existing positions increased: 99 | Existing positions reduced: 149
36% less capital invested
Capital invested by funds: $3.71B [Q1] → $2.38B (-$1.33B) [Q2]
40% less first-time investments, than exits
New positions opened: 53 | Existing positions closed: 89
Research analyst outlook
13 Wall Street Analysts provided 1 year price targets over the past 3 months
13 analyst ratings
Evercore ISI Group Elizabeth Anderson 47% 1-year accuracy 9 / 19 met price target | 4%upside $20 | In-Line Maintained | 8 Oct 2024 |
Goldman Sachs Matthew Sykes 88% 1-year accuracy 7 / 8 met price target | 20%upside $23 | Neutral Maintained | 8 Oct 2024 |
Jefferies David Windley 36% 1-year accuracy 4 / 11 met price target | 10%upside $21 | Hold Downgraded | 25 Sept 2024 |
Deutsche Bank Justin Bowers 67% 1-year accuracy 4 / 6 met price target | 20%upside $23 | Hold Maintained | 20 Aug 2024 |
TD Cowen Charles Rhyee 20% 1-year accuracy 1 / 5 met price target | 20%upside $23 | Hold Maintained | 13 Aug 2024 |
Financial journalist opinion
Based on 41 articles about FTRE published over the past 30 days