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

Shares of LifeStance Health Group, Inc. (NASDAQ:LFST) hit a new 52-week high during mid-day 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 trading hands. The stock had previously closed at $10.84.

Several other research firms have also issued reports on LFST. Barclays boosted their price target on LifeStance Health Group from $9.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of LifeStance Health Group in a research note on Wednesday, May 27th. Canaccord Genuity Group boosted their price objective on LifeStance Health Group from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Wall Street Zen lowered shares of LifeStance Health Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Finally, KeyCorp lifted their price target on shares of LifeStance Health Group from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, LifeStance Health Group presently has a consensus rating of “Moderate Buy” and an average price target of $11.62.

Insider Activity

In other news, Director Eric Shuey sold 243,362 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $1,951,763.24. Following the transaction, the director directly owned 867,562 shares in the company, valued at $6,957,847.24. The trade was a 21.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Darren M. Black sold 5,899,661 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $47,315,281.22. Following the sale, the director owned 23,310,115 shares of the company’s stock, valued at $186,947,122.30. This represents a 20.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 7,612,394 shares of company stock worth $62,938,451 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On LifeStance Health Group

Several hedge funds have recently modified their holdings of LFST. Alpine Woods Capital Investors LLC purchased a new position in LifeStance Health Group during the second quarter valued at $279,000. BlackRock Inc. purchased a new stake in LifeStance Health Group in the 2nd quarter worth $389,293,000. Deutsche Bank AG bought a new position in shares of LifeStance Health Group during the 2nd quarter valued at about $2,333,000. Global Retirement Partners LLC bought a new position in shares of LifeStance Health Group during the 2nd quarter valued at about $572,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of LifeStance Health Group during the second quarter valued at about $11,626,000. Hedge funds and other institutional investors own 85.50% of the company’s stock.

LifeStance Health Group Trading Up 11.0%

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

LifeStance Health Group (NASDAQ:LFST) last posted its earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping 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%.The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share. Sell-side analysts forecast that LifeStance Health Group, Inc. will post 0.12 earnings per share for the current fiscal year.

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.