Fortrea (NASDAQ:FTRE) CFO Sells $16,632.88 in Stock

Fortrea Holdings Inc. (NASDAQ:FTRE) CFO Jill Mcconnell sold 1,804 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $9.22, for a total transaction of $16,632.88. Following the completion of the transaction, the chief financial officer directly owned 72,276 shares of the company’s stock, valued at $666,384.72. This represents a 2.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Fortrea Stock Up 4.6%

Fortrea stock traded up $0.43 during trading hours on Tuesday, hitting $9.70. The company had a trading volume of 1,880,610 shares, compared to its average volume of 1,764,351. The firm’s fifty day moving average is $13.45 and its 200-day moving average is $12.48. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.98 and a quick ratio of 0.98. Fortrea Holdings Inc. has a fifty-two week low of $3.97 and a fifty-two week high of $18.67. The firm has a market capitalization of $906.95 million, a P/E ratio of -0.89, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.22 million. On average, research analysts forecast that Fortrea Holdings Inc. will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On Fortrea

A number of institutional investors have recently added to or reduced their stakes in FTRE. Allworth Financial LP boosted its stake in Fortrea by 6,802.4% during the second quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock worth $28,000 after acquiring an additional 5,578 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Fortrea by 214.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock valued at $28,000 after purchasing an additional 2,278 shares during the period. Larson Financial Group LLC boosted its position in shares of Fortrea by 136.7% during the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after purchasing an additional 1,072 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Fortrea by 74.3% during the 2nd quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after purchasing an additional 2,918 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Fortrea by 137.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock valued at $43,000 after buying an additional 5,036 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup upgraded shares of Fortrea from a “neutral” rating to a “buy” rating and increased their target price for the stock from $12.00 to $21.00 in a research report on Thursday, December 11th. Evercore set a $25.00 target price on Fortrea and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Fortrea in a research report on Thursday, January 22nd. Robert W. Baird dropped their price target on Fortrea from $19.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Finally, Barclays reduced their price objective 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. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.15.

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.