Intel stock extends gains after report of possible U.S. government stake
Mark A. Morais, Chief Operating Officer of Fortrea Holdings Inc. (NASDAQ:FTRE), recently sold shares of the company’s common stock valued at approximately $2,015. The shares were sold on March 13 at an average price of $9.93 per share, according to a recent SEC filing. The transaction comes as Fortrea, currently valued at $864 million, trades near its 52-week low of $9.47, having declined over 48% year-to-date.
The sale was part of a transaction mandated by the company’s equity incentive plans to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). These transactions are not considered discretionary trades by Morais. While the company isn’t currently profitable, InvestingPro analysis indicates analysts expect positive earnings of $0.40 per share in 2025.
In addition to the sale, Morais converted 725 restricted stock units into common stock on March 12, as part of a performance-based awards settlement. Following these transactions, Morais holds a total of 35,596 shares of Fortrea common stock directly. For deeper insights into Fortrea’s valuation and 13 additional exclusive ProTips, check out the comprehensive research report available on InvestingPro.
In other recent news, Fortrea Holdings reported disappointing fourth-quarter earnings, with an EPS of $0.18 and revenue of $697 million, both falling short of analyst expectations. The company’s full-year 2025 revenue guidance of $2.45-2.55 billion also missed the consensus estimate of $2.74 billion. Analysts at TD Cowen and Citi responded by lowering their price targets for Fortrea, with TD Cowen reducing it to $11 and Citi to $12, both maintaining a neutral stance on the stock. Fortrea’s management attributed the financial shortfall to challenges with pre-spin bookings and a product mix heavily weighted towards oncology, which are anticipated to impact the company’s 2025 performance. Despite these hurdles, Fortrea is implementing cost-saving measures aimed at achieving net savings of $40-50 million in 2025. In addition, the company appointed Erin L. Russell as a new director, bringing her extensive finance and healthcare experience to the board. Fortrea’s CEO, Tom Pike, acknowledged the transitional period the company is undergoing but emphasized a focus on long-term growth and strategic realignment.
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