Jill Mcconnell Sells 881 Shares of Fortrea (NASDAQ:FTRE) Stock

Fortrea Holdings Inc. (NASDAQ:FTRE) CFO Jill Mcconnell sold 881 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $13.88, for a total transaction of $12,228.28. Following the transaction, the chief financial officer owned 59,574 shares in the company, valued at approximately $826,887.12. This represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Fortrea Stock Down 15.2%

Shares of NASDAQ:FTRE traded down $2.08 during midday trading on Wednesday, hitting $11.59. 2,825,615 shares of the stock were exchanged, compared to its average volume of 1,301,866. The company has a market capitalization of $1.07 billion, a PE ratio of -1.03, a P/E/G ratio of 0.40 and a beta of 1.59. Fortrea Holdings Inc. has a 52-week low of $3.97 and a 52-week high of $18.67. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.00 and a current ratio of 1.00. The business’s fifty day simple moving average is $16.38 and its two-hundred day simple moving average is $12.01.

Wall Street Analyst Weigh In

Several research firms have weighed in on FTRE. Mizuho set a $15.00 target price on Fortrea in a report on Friday, January 9th. Truist Financial set a $22.00 price target on Fortrea and gave the stock a “buy” rating in a research report on Thursday, January 8th. Wedbush set a $21.00 target price on shares of Fortrea in a research note on Thursday, December 11th. Robert W. Baird set a $19.00 price target on shares of Fortrea in a research note on Wednesday, January 14th. Finally, Citigroup raised 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 report on Thursday, December 11th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.75.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FTRE. Sanctuary Advisors LLC increased its stake in shares of Fortrea by 1.7% in the 4th quarter. Sanctuary Advisors LLC now owns 36,648 shares of the company’s stock valued at $632,000 after buying an additional 627 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Fortrea by 3.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,166 shares of the company’s stock valued at $365,000 after acquiring an additional 700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Fortrea by 27.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock worth $77,000 after purchasing an additional 980 shares during the period. Amalgamated Bank raised its holdings in Fortrea by 4.0% during the 3rd quarter. Amalgamated Bank now owns 26,688 shares of the company’s stock worth $225,000 after purchasing an additional 1,026 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in Fortrea by 136.7% during the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after purchasing 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.