Fortrea appointed William Sharbaugh to its Board, enhancing leadership with his extensive pharmaceutical industry experience.
Quiver AI Summary
Fortrea, a prominent global contract research organization, has announced the appointment of William Sharbaugh to its Board of Directors. With over 30 years of extensive experience in the pharmaceutical industry, Sharbaugh has held various executive and board positions, bringing expertise in finance, operations, manufacturing, and quality. Fortrea's CEO, Anshul Thakral, expressed enthusiasm for Sharbaugh's arrival, highlighting his strong leadership and understanding of stakeholder needs in drug development. Sharbaugh himself looks forward to contributing practical insights to the Board as Fortrea continues to focus on providing innovative solutions for clients. His background includes leadership roles at companies such as PPD, Inc. and Bristol-Myers Squibb, as well as academic credentials from prestigious institutions. Fortrea provides comprehensive clinical development services across multiple therapeutic areas, aiming to accelerate healthcare innovations.
Potential Positives
- Appointment of William Sharbaugh to the Board of Directors enhances Fortrea's leadership with extensive healthcare and pharmaceutical experience.
- Sharbaugh's background in CRO and pharmaceutical operations aligns well with Fortrea's mission to deliver high-quality drug development.
- His prior roles, including Chief Operating Officer at PPD, Inc., bring valuable insights to Fortrea as it focuses on creating stakeholder value.
Potential Negatives
- Appointment of William Sharbaugh to the Board may signal a lack of internal leadership options, necessitating external recruitment for board-level expertise.
FAQ
Who is William Sharbaugh?
William Sharbaugh is a newly appointed member of Fortrea's Board of Directors with extensive healthcare experience.
What is Fortrea's primary business focus?
Fortrea focuses on providing clinical development solutions to the life sciences industry, partnering with various healthcare companies.
What experience does Sharbaugh bring to Fortrea?
Sharbaugh brings over 30 years of experience in finance, operations, and quality within the pharmaceutical industry.
How does Sharbaugh plan to contribute at Fortrea?
He aims to offer practical insights and help create value for all stakeholders while joining the Fortrea team.
What is Fortrea's mission in healthcare?
Fortrea's mission is to deliver life-changing treatments to patients faster through innovative healthcare partnerships.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FTRE Congressional Stock Trading
Members of Congress have traded $FTRE stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $FTRE stock by members of Congress over the last 6 months:
- REPRESENTATIVE J. FRENCH HILL sold up to $15,000 on 06/23.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$FTRE Insider Trading Activity
$FTRE insiders have traded $FTRE stock on the open market 13 times in the past 6 months. Of those trades, 3 have been purchases and 10 have been sales.
Here’s a breakdown of recent trading of $FTRE stock by insiders over the last 6 months:
- PETER M NEUPERT has made 2 purchases buying 62,500 shares for an estimated $407,150 and 0 sales.
- ERIN L RUSSELL purchased 9,854 shares for an estimated $100,018
- JILL G. MCCONNELL (Chief Financial Officer) has made 0 purchases and 3 sales selling 11,172 shares for an estimated $84,474.
- MARK A. MORAIS (Chief Operating Officer) has made 0 purchases and 3 sales selling 11,171 shares for an estimated $84,464.
- ROBERT PARKS (Chief Accounting Officer) has made 0 purchases and 2 sales selling 7,930 shares for an estimated $79,069.
- JAMES S. HANSON (General Counsel) has made 0 purchases and 2 sales selling 3,868 shares for an estimated $26,292.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FTRE Hedge Fund Activity
We have seen 167 institutional investors add shares of $FTRE stock to their portfolio, and 233 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GOLDMAN SACHS GROUP INC added 7,417,749 shares (+1539.7%) to their portfolio in Q2 2025, for an estimated $36,643,680
- AQR CAPITAL MANAGEMENT LLC added 5,419,842 shares (+494.8%) to their portfolio in Q2 2025, for an estimated $26,774,019
- STARBOARD VALUE LP removed 2,772,442 shares (-52.6%) from their portfolio in Q2 2025, for an estimated $13,695,863
- MORGAN STANLEY removed 2,756,591 shares (-50.9%) from their portfolio in Q2 2025, for an estimated $13,617,559
- BLACKROCK, INC. removed 2,684,245 shares (-15.5%) from their portfolio in Q2 2025, for an estimated $13,260,170
- FMR LLC removed 2,181,557 shares (-41.5%) from their portfolio in Q2 2025, for an estimated $10,776,891
- MILLENNIUM MANAGEMENT LLC removed 1,758,474 shares (-50.3%) from their portfolio in Q2 2025, for an estimated $8,686,861
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$FTRE Analyst Ratings
Wall Street analysts have issued reports on $FTRE in the last several months. We have seen 1 firms issue buy ratings on the stock, and 1 firms issue sell ratings.
Here are some recent analyst ratings:
- Baird issued a "Outperform" rating on 09/03/2025
- Barclays issued a "Underweight" rating on 08/07/2025
To track analyst ratings and price targets for $FTRE, check out Quiver Quantitative's $FTRE forecast page.
$FTRE Price Targets
Multiple analysts have issued price targets for $FTRE recently. We have seen 6 analysts offer price targets for $FTRE in the last 6 months, with a median target of $7.0.
Here are some recent targets:
- David Windley from Jefferies set a target price of $9.5 on 09/09/2025
- Eric Coldwell from Baird set a target price of $14.0 on 09/03/2025
- Elizabeth Anderson from Evercore ISI Group set a target price of $7.0 on 08/08/2025
- Luke Sergott from Barclays set a target price of $6.0 on 08/07/2025
- Ann Hynes from Mizuho set a target price of $7.0 on 07/11/2025
- Matthew Sykes from Goldman Sachs set a target price of $5.0 on 05/14/2025
Full Release
DURHAM, N.C., Sept. 22, 2025 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced the appointment of William Sharbaugh to the Company’s Board of Directors. Mr. Sharbaugh brings extensive healthcare experience in finance, operations, manufacturing, and quality to the position, having served in executive and board roles during his more than three decades in the pharmaceutical industry.
“I’m delighted to welcome Bill to the Fortrea Board, bringing an impressive background in CRO and pharmaceutical operations,” said Anshul Thakral, CEO of Fortrea. “He is a highly respected leader, who understands our stakeholders and what it takes to deliver high-quality drug development globally. Bill’s experience and leadership acumen will be valuable to Fortrea as we execute on our plans. His track record of success demonstrates his dedication to our purpose of delivering life-changing treatments to patients faster.”
“I’m looking forward to joining Fortrea’s Board as the company focuses on the future as a trusted partner to its clients,” said Mr. Sharbaugh. “With my experience in both CRO and pharmaceutical companies, I hope to offer practical and pragmatic perspectives to the Board. I look forward to partnering with Anshul, the Board and the Fortrea team to create value for all stakeholders.”
About William Sharbaugh
Mr. Sharbaugh brings extensive healthcare experience in finance, operations, manufacturing, and quality to the position, having served in executive and board roles during his more than three decades in the pharmaceutical industry. Mr. Sharbaugh currently serves as chairman of the board of Ora LLC, an ophthalmic research organization, as well as a member of the board of directors of Launch Therapeutics, Inc., a late-stage pharmaceutical development company. In addition, Mr. Sharbaugh previously served as an operating partner to the Vistria Group from September 2022 to July 2025, and as a member of the board of directors of Alcami Corporation, a Vistria Group company that performs contract drug manufacturing, and BioCare, Inc. a Vistria Group company that purchases and distributes specialty products for hematology, immunology, neurology, ultra rare, orphan, gene therapy, retina, and oncology. His previous executive experience includes serving as chief operating officer for PPD, Inc., a CRO, from 2007 to 2021 and as vice president, Global Development Operations from 2001 to 2007 at Bristol-Myers Squibb, a leading pharmaceutical company. Mr. Sharbaugh also spent 10 years at Merck & Co. in a variety of roles in clinical supply operations, sales and manufacturing. He served as an officer in the U.S. Army, where he held various leadership positions in a Patriot missile battalion. Mr. Sharbaugh earned his B.S from the U.S. Military Academy at West Point, a M.S. in the Management of Technology from the Wharton School and the School of Engineering at the University of Pennsylvania, a M.S in Regulatory Affairs and Quality Assurance from Temple University School of Pharmacy, and a M.A. in International Relations from Boston University School of Arts and Sciences.
About Fortrea
Fortrea (Nasdaq: FTRE) is a leading global provider of clinical development solutions to the life sciences industry. We partner with emerging and large biopharmaceutical, biotechnology, medical device and diagnostic companies to drive healthcare innovation that accelerates life changing therapies to patients. Fortrea provides phase I-IV clinical trial management, clinical pharmacology and consulting services. Fortrea’s solutions leverage three decades of experience spanning more than 20 therapeutic areas, a passion for scientific rigor, exceptional insights and a strong investigator site network. Our talented and diverse team working in about 100 countries is scaled to deliver focused and agile solutions to customers globally. Learn more about how Fortrea is becoming a transformative force from pipeline to patient at Fortrea.com and follow us on LinkedIn and X (formerly Twitter).
Fortrea Contacts:
Tracy Krumme (Investors) – 984-385-6707,
[email protected]
Sue Zaranek (Media) – 919-943-5422,
[email protected]
Kate Dillon (Media) – 646-818-9115,
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87eff2fa-b079-43b0-8837-8f75a7a8524f
