LifeStance Health Group (NASDAQ:LFST – Get Free Report) had its target price lifted by research analysts at BTIG Research from $12.00 to $15.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 38.76% from the stock’s current price.
A number of other analysts also recently issued reports on the company. Wall Street Zen raised LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Barclays boosted their price target on shares of LifeStance Health Group from $9.00 to $13.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Zacks Research cut shares of LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of LifeStance Health Group in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group assumed coverage on shares of LifeStance Health Group in a report on Friday, June 5th. They issued a “neutral” rating and a $9.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.50.
Check Out Our Latest Analysis on LFST
LifeStance Health Group Trading Down 1.8%
LifeStance Health Group (NASDAQ:LFST – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The firm had revenue of $403.48 million during the quarter, compared to analysts’ expectations of $387.46 million. The business’s quarterly revenue was up 21.2% on a year-over-year basis. Analysts expect that LifeStance Health Group will post 0.12 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Darren M. Black sold 5,899,661 shares of the business’s 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 sale, the director directly owned 23,310,115 shares of the company’s stock, valued at approximately $186,947,122.30. The trade was a 20.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric Shuey sold 243,362 shares of the company’s stock in a transaction that occurred on 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. This represents a 21.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 7,687,394 shares of company stock valued at $63,579,701. 3.50% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its position in shares of LifeStance Health Group by 37.0% during the second quarter. Handelsbanken Fonder AB now owns 41,100 shares of the company’s stock worth $440,000 after buying an additional 11,100 shares during the period. Contravisory Investment Management Inc. acquired a new position in LifeStance Health Group during the 2nd quarter worth about $451,000. Bank of America Corp DE lifted its stake in LifeStance Health Group by 165.0% during the 1st quarter. Bank of America Corp DE now owns 1,994,027 shares of the company’s stock worth $12,702,000 after acquiring an additional 1,241,475 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in LifeStance Health Group by 359.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock valued at $44,000 after acquiring an additional 5,404 shares during the period. Finally, California State Teachers Retirement System grew its position in LifeStance Health Group by 32.1% in the 1st quarter. California State Teachers Retirement System now owns 166,084 shares of the company’s stock valued at $1,058,000 after acquiring an additional 40,402 shares in the last quarter. 85.50% of the stock is currently owned by institutional investors and hedge funds.
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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