LifeStance Health Group (NASDAQ:LFST) Reaches New 1-Year High After Analyst Upgrade

LifeStance Health Group, Inc. (NASDAQ:LFSTGet Free Report) shares reached a new 52-week high during trading on Monday after BTIG Research raised their price target on the stock from $15.00 to $16.00. BTIG Research currently has a buy rating on the stock. LifeStance Health Group traded as high as $12.06 and last traded at $12.0580, with a volume of 1944465 shares changing hands. The stock had previously closed at $10.84.

Other analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of LifeStance Health Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Canaccord Genuity Group lifted their target price on shares of LifeStance Health Group from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. KeyCorp boosted their price target on shares of LifeStance Health Group from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of LifeStance Health Group in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group started coverage on shares of LifeStance Health Group in a research report on Friday, June 5th. They set a “neutral” rating and a $9.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, LifeStance Health Group presently has an average rating of “Moderate Buy” and a consensus target price of $11.62.

View Our Latest Stock Analysis on LifeStance Health Group

Insider Transactions at LifeStance Health Group

In other news, Director Robert Bessler sold 894,337 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the completion of the transaction, the director directly owned 539,763 shares in the company, valued at $5,467,799.19. This trade represents a 62.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Shuey sold 243,362 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total transaction of $1,951,763.24. Following the completion of the transaction, the director owned 867,562 shares in the company, valued at approximately $6,957,847.24. The trade was a 21.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 7,612,394 shares of company stock valued at $62,938,451. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On LifeStance Health Group

A number of hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL purchased a new stake in LifeStance Health Group in the third quarter worth approximately $1,040,000. Silversmith Partners I GP LLC purchased a new stake in LifeStance Health Group during the 4th quarter valued at $100,842,000. First Eagle Investment Management LLC raised its stake in LifeStance Health Group by 13.3% during the 4th quarter. First Eagle Investment Management LLC now owns 1,496,466 shares of the company’s stock valued at $10,535,000 after buying an additional 176,000 shares during the last quarter. Moran Wealth Management LLC purchased a new stake in LifeStance Health Group during the 1st quarter valued at $953,000. Finally, Jennison Associates LLC lifted its holdings in shares of LifeStance Health Group by 38.5% during the 1st quarter. Jennison Associates LLC now owns 10,228,801 shares of the company’s stock valued at $65,157,000 after buying an additional 2,843,388 shares during the period. 85.50% of the stock is currently owned by hedge funds and other institutional investors.

LifeStance Health Group Trading Up 11.0%

The stock has a market capitalization of $4.66 billion, a PE ratio of 92.66 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $9.95 and a 200-day moving average price of $8.06.

LifeStance Health Group (NASDAQ:LFSTGet Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $435.35 million for the quarter, compared to the consensus estimate of $414.58 million. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%.LifeStance Health Group’s revenue was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Sell-side analysts expect that LifeStance Health Group, Inc. will post 0.12 earnings per share for the current year.

About LifeStance Health Group

(Get Free Report)

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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