Morgan Stanley Reaffirms Overweight Rating for LifeStance Health Group (NASDAQ:LFST)

Morgan Stanley reiterated their overweight rating on shares of LifeStance Health Group (NASDAQ:LFST) in a research report released on Monday morning, Benzinga reports. They currently have a $10.00 target price on the stock.

Several other research analysts also recently weighed in on LFST. Jefferies Financial Group upped their target price on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock a buy rating in a report on Wednesday, March 6th. The Goldman Sachs Group boosted their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock a neutral rating in a research note on Monday, March 4th. Finally, Barclays boosted their price target on shares of LifeStance Health Group from $7.00 to $8.00 and gave the stock an underweight rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $8.83.

LifeStance Health Group Stock Performance

Shares of LFST stock opened at $6.16 on Monday. LifeStance Health Group has a 1 year low of $4.74 and a 1 year high of $9.59. The firm has a fifty day moving average price of $6.44 and a 200-day moving average price of $6.53. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.11 and a quick ratio of 1.11.

LifeStance Health Group (NASDAQ:LFST) last issued its earnings results on Wednesday, February 28th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $280.60 million during the quarter, compared to the consensus estimate of $263.14 million. LifeStance Health Group had a negative return on equity of 12.66% and a negative net margin of 17.64%. As a group, sell-side analysts anticipate that LifeStance Health Group will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In other LifeStance Health Group news, insider Danish J. Qureshi sold 12,965 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $5.93, for a total value of $76,882.45. Following the transaction, the insider now directly owns 4,911,050 shares in the company, valued at approximately $29,122,526.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Kevin Michael Mullins sold 115,136 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $8.02, for a total transaction of $923,390.72. Following the transaction, the insider now directly owns 4,575,480 shares in the company, valued at $36,695,349.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Danish J. Qureshi sold 12,965 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $5.93, for a total transaction of $76,882.45. Following the transaction, the insider now owns 4,911,050 shares in the company, valued at $29,122,526.50. The disclosure for this sale can be found here. Insiders have sold 245,463 shares of company stock worth $1,786,868 in the last three months. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On LifeStance Health Group

A number of hedge funds and other institutional investors have recently modified their holdings of LFST. Assetmark Inc. lifted its position in LifeStance Health Group by 21.6% during the fourth quarter. Assetmark Inc. now owns 11,895 shares of the company’s stock valued at $93,000 after acquiring an additional 2,114 shares during the last quarter. Brown Advisory Inc. lifted its position in LifeStance Health Group by 25.9% during the fourth quarter. Brown Advisory Inc. now owns 5,158,980 shares of the company’s stock valued at $40,395,000 after acquiring an additional 1,062,887 shares during the last quarter. Principal Financial Group Inc. lifted its position in LifeStance Health Group by 2.8% during the fourth quarter. Principal Financial Group Inc. now owns 4,006,344 shares of the company’s stock valued at $31,370,000 after acquiring an additional 110,457 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in LifeStance Health Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 744,617 shares of the company’s stock valued at $5,830,000 after acquiring an additional 5,112 shares during the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in LifeStance Health Group during the fourth quarter valued at approximately $93,000. 85.50% of the stock is currently owned by institutional investors.

About LifeStance Health Group

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.