LifeStance Health Group (NASDAQ:LFST) Sets New 1-Year High – Here’s Why

LifeStance Health Group, Inc. (NASDAQ:LFST) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $9.54 and last traded at $9.44, with a volume of 2932327 shares. The stock had previously closed at $9.20.

Analyst Upgrades and Downgrades

LFST has been the topic of a number of recent research reports. Wall Street Zen cut LifeStance Health Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. Canaccord Genuity Group boosted their target price 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. BTIG Research boosted their price target on LifeStance Health Group from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Jefferies Financial Group raised shares of LifeStance Health Group to a “strong-buy” rating in a research report on Thursday, March 12th. Finally, Barclays increased their target price on LifeStance Health Group from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.75.

LifeStance Health Group Price Performance

The stock has a market cap of $3.83 billion, a PE ratio of 164.67 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.48. The business has a fifty day moving average of $7.83 and a 200 day moving average of $7.23.

LifeStance Health Group (NASDAQ:LFST) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $387.46 million. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. Sell-side analysts anticipate that LifeStance Health Group, Inc. will post 0.12 earnings per share for the current year.

Insider Transactions at LifeStance Health Group

In related news, Director Darren M. Black sold 5,899,661 shares of LifeStance Health Group stock in a transaction 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric Shuey sold 243,362 shares of LifeStance Health Group stock in a transaction 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 sale, the director owned 867,562 shares of the company’s stock, valued at approximately $6,957,847.24. This trade represents a 21.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 6,868,057 shares of company stock valued at $55,048,226. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LifeStance Health Group

Several hedge funds and other institutional investors have recently modified their holdings of LFST. Larson Financial Group LLC lifted its position in shares of LifeStance Health Group by 19,952.6% during the fourth quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock worth $27,000 after purchasing an additional 3,791 shares during the last quarter. KBC Group NV acquired a new position in LifeStance Health Group in the first quarter worth about $29,000. EverSource Wealth Advisors LLC increased 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 buying an additional 5,404 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings 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 buying an additional 7,987 shares during the last quarter. Finally, Assetmark Inc. raised its stake in LifeStance Health Group by 17.0% during the first quarter. Assetmark Inc. now owns 9,419 shares of the company’s stock valued at $60,000 after buying an additional 1,367 shares in the last quarter. Institutional investors 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.