Fortrea (NASDAQ:FTRE) CFO Sells $45,903.27 in Stock

Fortrea Holdings Inc. (NASDAQ:FTRE) CFO Jill Mcconnell sold 5,061 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total transaction of $45,903.27. Following the sale, the chief financial officer directly owned 69,796 shares in the company, valued at $633,049.72. This trade represents a 6.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Fortrea Price Performance

NASDAQ FTRE traded up $0.47 on Wednesday, hitting $9.42. The stock had a trading volume of 1,876,299 shares, compared to its average volume of 1,770,689. The firm has a 50-day moving average of $14.07 and a 200-day moving average of $12.47. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. Fortrea Holdings Inc. has a 52-week low of $3.97 and a 52-week high of $18.67. The company has a market capitalization of $880.77 million, a price-to-earnings ratio of -0.86, a price-to-earnings-growth ratio of 0.36 and a beta of 1.80.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). Fortrea had a negative net margin of 36.21% and a positive return on equity of 6.23%. The firm had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.22 million. Equities analysts expect that Fortrea Holdings Inc. will post 0.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wedbush set a $21.00 target price on Fortrea in a research note on Thursday, December 11th. Citigroup upgraded Fortrea from a “neutral” rating to a “buy” rating and lifted their price target for the company from $12.00 to $21.00 in a research report on Thursday, December 11th. Truist Financial set a $22.00 price objective on shares of Fortrea and gave the stock a “buy” rating in a research report on Thursday, January 8th. Barclays lowered their target price on shares of Fortrea from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. Finally, Robert W. Baird cut their price target on shares of Fortrea from $19.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fortrea currently has an average rating of “Hold” and an average target price of $16.15.

Institutional Investors Weigh In On Fortrea

A number of hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC grew its holdings in shares of Fortrea by 1.7% during the 4th quarter. Sanctuary Advisors LLC now owns 36,648 shares of the company’s stock valued at $632,000 after purchasing an additional 627 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Fortrea by 3.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,166 shares of the company’s stock valued at $365,000 after buying an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Fortrea by 27.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock valued at $77,000 after buying an additional 980 shares during the period. Amalgamated Bank grew its stake in shares of Fortrea by 4.0% during the third quarter. Amalgamated Bank now owns 26,688 shares of the company’s stock valued at $225,000 after buying an additional 1,026 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Fortrea by 136.7% in the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares during the period.

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.