LifeStance Health Group (NASDAQ:LFST) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of LifeStance Health Group (NASDAQ:LFST) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

Several other equities research analysts have also issued reports on the stock. Zacks Research lowered shares of LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Canaccord Genuity Group increased their price target on shares of LifeStance Health Group from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. BTIG Research raised their price objective on shares of LifeStance Health Group from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Friday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of LifeStance Health Group in a report on Wednesday, May 27th. Finally, KeyCorp upped their target price on shares of LifeStance Health Group from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

LifeStance Health Group Price Performance

Shares of NASDAQ LFST opened at $10.88 on Friday. The stock’s 50-day simple moving average is $9.39 and its two-hundred day simple moving average is $7.85. LifeStance Health Group has a twelve month low of $3.74 and a twelve month high of $11.76. The firm has a market capitalization of $4.22 billion, a P/E ratio of 181.33 and a beta of 1.12. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.18.

LifeStance Health Group (NASDAQ:LFST) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) 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 the consensus estimate of $387.46 million. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, equities analysts anticipate that LifeStance Health Group will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other LifeStance Health Group news, Director Robert Bessler sold 894,337 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $10.13, for a total value of $9,059,633.81. Following the completion of the sale, the director owned 539,763 shares in the company, valued at approximately $5,467,799.19. The trade was a 62.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric Shuey sold 243,362 shares of the 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 $1,951,763.24. Following the sale, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,687,394 shares of company stock valued at $63,579,701 in the last ninety days. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On LifeStance Health Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its holdings in LifeStance Health Group by 37.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 41,100 shares of the company’s stock worth $440,000 after acquiring an additional 11,100 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of LifeStance Health Group during the second quarter valued at about $451,000. Bank of America Corp DE boosted its holdings in shares of LifeStance Health Group by 165.0% during the first quarter. Bank of America Corp DE now owns 1,994,027 shares of the company’s stock worth $12,702,000 after purchasing an additional 1,241,475 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of LifeStance Health Group by 359.1% during the first quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock worth $44,000 after purchasing an additional 5,404 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of LifeStance Health Group by 32.1% in the first quarter. California State Teachers Retirement System now owns 166,084 shares of the company’s stock worth $1,058,000 after purchasing an additional 40,402 shares during the last quarter. 85.50% of the stock is currently owned by institutional investors.

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.