Fortrea Holdings (FTRE)

• Market cap: $480M
• 1 day: -1.58%
• 5 days: 16.89%
• 1 month: -17.48%
• 3 months: -62.81%
• 6 months: -63.67%
• Year to date: -66.60%
• 1 year: -82.97%
• 5 years: -80.53%
• 10 years: -80.53%
• Sector: Healthcare
• Industry: Biotechnology

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: 15,500

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

40% more call options, than puts

Call options by funds: $29.1M | Put options by funds: $20.8M

5% more first-time investments, than exits

New positions opened: 67 | Existing positions closed: 64

0% more funds holding in top 10

Funds holding in top 10: 1 [Q3] → 1 (+0) [Q4]

1% less funds holding

Funds holding: 348 [Q3] → 344 (-4) [Q4]

2.71% less ownership

Funds ownership: 109.0% [Q3] → 106.29% (-2.71%) [Q4]

9% less capital invested

Capital invested by funds: $1.95B [Q3] → $1.78B (-$174M) [Q4]

35% less repeat investments, than reductions

Existing positions increased: 83 | Existing positions reduced: 128

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $6 4% downside
• Avg. target: $10.50 69% upside
• High target: $15 141% upside

4 analyst ratings

• positive: 0 0%
• neutral: 3 75%
• negative: 1 25%

Barclays Luke Sergott 36% 1-year accuracy 21 / 59 met price target	4% downside $6	Underweight Downgraded	10 Apr 2025
Mizuho Ann Hynes 57% 1-year accuracy 12 / 21 met price target	61% upside $10	Neutral Maintained	9 Apr 2025
Evercore ISI Group Elizabeth Anderson 42% 1-year accuracy 14 / 33 met price target	141% upside $15	In-Line Maintained	4 Mar 2025
Goldman Sachs Matthew Sykes 43% 1-year accuracy 15 / 35 met price target	77% upside $11	Neutral Maintained	4 Mar 2025