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

Fortrea Holdings Inc. (NASDAQ:FTRE) CFO Jill Mcconnell sold 881 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $13.88, for a total value 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 trade represents a 1.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Fortrea Stock Performance

Shares of NASDAQ FTRE opened at $10.27 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $948.95 million, a price-to-earnings ratio of -0.91, a P/E/G ratio of 0.34 and a beta of 1.59. The stock’s fifty day moving average price is $16.29 and its two-hundred day moving average price is $12.00. Fortrea Holdings Inc. has a one year low of $3.97 and a one year high of $18.67.

Analyst Ratings Changes

FTRE has been the topic of a number of analyst reports. Zacks Research lowered shares of Fortrea from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Truist Financial set a $22.00 price target on Fortrea and gave the company a “buy” rating in a research note on Thursday, January 8th. TD Cowen increased their price target on Fortrea from $7.00 to $15.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. Wedbush set a $21.00 price objective on Fortrea in a report on Thursday, December 11th. Finally, Wall Street Zen downgraded Fortrea from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Fortrea has an average rating of “Hold” and a consensus target price of $16.75.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FTRE. Sanctuary Advisors LLC boosted its holdings 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 purchasing an additional 627 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Fortrea by 3.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,166 shares of the company’s stock worth $365,000 after buying an additional 700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 valued at $77,000 after buying an additional 980 shares in the last quarter. Amalgamated Bank grew its position in Fortrea by 4.0% in the third quarter. Amalgamated Bank now owns 26,688 shares of the company’s stock valued at $225,000 after acquiring an additional 1,026 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in Fortrea by 136.7% during the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after acquiring an additional 1,072 shares in the last quarter.

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.