Fortrea (NASDAQ:FTRE) CFO Jill Mcconnell Sells 5,061 Shares

by · The Markets Daily

Fortrea Holdings Inc. (NASDAQ:FTRE – Get Free Report) CFO Jill Mcconnell sold 5,061 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $9.07, for a total transaction of $45,903.27. Following the completion of the sale, the chief financial officer owned 69,796 shares of the company’s stock, valued at $633,049.72. This trade represents a 6.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Fortrea Price Performance

FTRE traded down $0.28 on Thursday, hitting $9.14. 274,171 shares of the company were exchanged, compared to its average volume of 1,738,228. Fortrea Holdings Inc. has a fifty-two week low of $3.97 and a fifty-two week high of $18.67. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $854.87 million, a P/E ratio of -0.83, a price-to-earnings-growth ratio of 0.32 and a beta of 1.80. The business’s fifty day moving average is $13.92 and its 200 day moving average is $12.45.

Fortrea (NASDAQ:FTRE – Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The company had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.22 million. Fortrea had a negative net margin of 36.21% and a positive return on equity of 6.23%. As a group, sell-side analysts anticipate that Fortrea Holdings Inc. will post 0.51 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on FTRE shares. Evercore set a $25.00 price target on Fortrea and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Truist Financial set a $22.00 target price on shares of Fortrea and gave the company a “buy” rating in a report on Thursday, January 8th. Mizuho set a $15.00 target price on shares of Fortrea in a research report on Friday, January 9th. TD Cowen raised shares of Fortrea from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.15.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTRE. Royal Bank of Canada raised its position in shares of Fortrea by 48.9% in the first quarter. Royal Bank of Canada now owns 121,707 shares of the company’s stock valued at $920,000 after buying an additional 39,944 shares during the last quarter. Caxton Associates LLP acquired a new position in Fortrea in the 1st quarter valued at $196,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Fortrea by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 282,780 shares of the company’s stock worth $2,135,000 after purchasing an additional 27,746 shares during the period. Focus Partners Wealth acquired a new stake in shares of Fortrea during the first quarter worth $80,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Fortrea during the first quarter worth $65,000.

Fortrea Company Profile

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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.

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