LifeStance Health Group, Inc. (NASDAQ:LFST – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $8.89 and last traded at $8.8650, with a volume of 657996 shares trading hands. The stock had previously closed at $8.61.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on LFST shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of LifeStance Health Group in a report on Wednesday, May 27th. UBS Group upped their price objective on shares of LifeStance Health Group from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, February 26th. BTIG Research raised their target price on shares of LifeStance Health Group from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Canaccord Genuity Group upped their price target on shares of LifeStance Health Group from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Wall Street Zen lowered LifeStance Health Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.75.
View Our Latest Analysis on LifeStance Health Group
LifeStance Health Group Trading Up 4.7%
LifeStance Health Group (NASDAQ:LFST – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The firm had revenue of $403.48 million for the quarter, compared to analyst estimates of $387.46 million. LifeStance Health Group’s revenue was up 21.2% compared to the same quarter last year. Analysts anticipate that LifeStance Health Group, Inc. will post 0.12 earnings per share for the current year.
LifeStance Health Group declared that its board has authorized a share repurchase program on Wednesday, February 25th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.
Insider Activity
In related news, Director Darren M. Black sold 5,899,661 shares of LifeStance Health Group stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $47,315,281.22. Following the completion of the transaction, the director owned 23,310,115 shares in the company, valued at approximately $186,947,122.30. The trade was a 20.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Bessler sold 575,034 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $4,611,772.68. Following the sale, the director directly owned 986,931 shares in the company, valued at $7,915,186.62. This represents a 36.81% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 6,868,057 shares of company stock valued at $55,048,226. Company insiders own 3.20% of the company’s stock.
Hedge Funds Weigh In On LifeStance Health Group
Institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of LifeStance Health Group by 19,952.6% during the 4th quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock worth $27,000 after acquiring an additional 3,791 shares in the last quarter. KBC Group NV acquired a new position in LifeStance Health Group in the first quarter valued at approximately $29,000. EverSource Wealth Advisors LLC boosted its holdings in LifeStance Health Group by 359.1% in the first quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock valued at $44,000 after purchasing an additional 5,404 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in LifeStance Health Group by 615.3% in the first quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company’s stock valued at $59,000 after purchasing an additional 7,987 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in LifeStance Health Group by 17.0% during the first quarter. Assetmark Inc. now owns 9,419 shares of the company’s stock worth $60,000 after purchasing an additional 1,367 shares in the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.
About LifeStance Health Group
LifeStance Health Group (NASDAQ:LFST) is a leading provider of outpatient mental health services in the United States. Headquartered in New York City, the company operates a growing network of clinics that deliver integrated, patient-centered psychological and psychiatric care. LifeStance’s mission is to expand access to high-quality mental health treatment by combining evidence-based therapy modalities with personalized treatment plans.
The company’s service offerings include individual, family, and group psychotherapy, psychiatric medication management, psychological assessment, and telehealth services.
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