Fortrea Holdings (Fortrea Holdings) Momentum Rank : 0 (As of May. 27, 2024)

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What is Fortrea Holdings Momentum Rank?

Fortrea Holdings has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

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Fortrea Holdings (Fortrea Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Fortrea Holdings Inc (NAS:FTRE) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

K67:Germany

Address

8 Moore Drive, Durham, NC, USA, 27709

Website

https://www.fortrea.com

Fortrea Holdings is a late-stage contract research organization, or CRO, that provides comprehensive Phase I through IV clinical trial management, clinical pharmacology, and patient access solutions. The company works with emerging and large biopharma, medical device, and diagnostic companies to run their clinical trials as a functional-service provider, full-service provider, and offers hybrid trials. In 2023, Fortrea was formed as an independent, publicly traded company after LabCorp spun off its clinical development business, which it acquired via its purchase of Covance in 2015 for $6.1 billion. Fortrea has 19,000 staff members across 90 countries.

Executives

Thomas Pike	officer: Chief Executive Officer	C/O ACCENTURE, 161 N. CLARK STREET, 23RD FLOOR, CHICAGO IL 60601
Peter M Neupert	director	13920 SE EASTGATE WAY, STE 300, BELLEVUE WA 98005
Betty D Larson	director	GE HEALTHCARE TECHNOLOGIES INC., 500 W. MONROE, CHICAGO IL 60661
R Andrew Eckert	director	THREE RAVINIA DRIVE, ATLANTA GA 30346
Edward A Pesicka	director	9120 LOCKWOOD BLVD, MECHANICSVILLE VA 23116
Amrit Ray	director	60 LEVERONI COURT, NOVATO CA 94949
Amanda M. Warren	officer: Chief Accounting Officer	8 MOORE DRIVE, DURHAM NC 27703
David Ross Smith	director	251 BALLARDVALE STREET, WILMINGTON MA 01887
Van Der Vaart Sandra D	director, officer: President and Secretary	531 SOUTH SPRING STREET, BURLINGTON NC 27215
Glenn A Eisenberg	director, officer: Executive Vice President	P O BOX 1017, CHARLOTTE NC 28201-1017
James S. Hanson	officer: General Counsel	79 TW ALEXANDER DRIVE, 4501 RESEARCH COMMONS, SUITE 100, RESEARCH TRIANGLE PARK NC 27709
Laboratory Corp Of America Holdings	10 percent owner	358 S MAIN ST, BURLINGTON NC 27215
Jill G. Mcconnell	officer: Chief Financial Officer	8 MOORE DRIVE, DURHAM NC 27703
Mark A. Morais	officer: Chief Operating Officer	8 MOORE DRIVE, DURHAM NC 27703
Robert S. Pringle	officer: Treasurer	531 SOUTH SPRING STREET, BURLINGTON NC 27215