LifeStance Health Group (NASDAQ:LFST) Sets New 12-Month High – Here’s What Happened

LifeStance Health Group, Inc. (NASDAQ:LFST) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $13.15 and last traded at $12.8750, with a volume of 382671 shares trading hands. The stock had previously closed at $12.60.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LFST shares. Canaccord Genuity Group lifted their price objective on LifeStance Health Group from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of LifeStance Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Zacks Research lowered shares of LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, The Goldman Sachs Group initiated coverage on shares of LifeStance Health Group in a report on Friday, June 5th. They issued a “neutral” rating and a $9.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.38.

LifeStance Health Group Price Performance

The stock has a market capitalization of $4.98 billion, a P/E ratio of 98.87 and a beta of 1.22. The company has a 50 day moving average of $11.32 and a 200-day moving average of $8.69. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.18.

LifeStance Health Group (NASDAQ:LFST) last released its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $435.35 million during the quarter, compared to analyst estimates of $414.58 million. LifeStance Health Group had a net margin of 3.19% and a return on equity of 3.39%. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Sell-side analysts predict that LifeStance Health Group, Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling at LifeStance Health Group

In other LifeStance Health Group news, Director Robert Bessler sold 894,337 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $10.13, for a total value of $9,059,633.81. Following the transaction, the director owned 539,763 shares of the company’s stock, valued at $5,467,799.19. This trade represents a 62.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vukasin Paunovich sold 44,394 shares of LifeStance Health Group stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $10.85, for a total value of $481,674.90. Following the completion of the transaction, the chief technology officer owned 247,446 shares of the company’s stock, valued at approximately $2,684,789.10. The trade was a 15.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,629,850 shares of company stock worth $154,952,012 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in LifeStance Health Group in the second quarter valued at $389,293,000. Silversmith Partners I GP LLC acquired a new position in shares of LifeStance Health Group during the fourth quarter valued at $100,842,000. Vanguard Group Inc. grew its position in shares of LifeStance Health Group by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 17,700,041 shares of the company’s stock worth $124,608,000 after acquiring an additional 3,086,506 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of LifeStance Health Group during the second quarter worth about $30,881,000. Finally, Jennison Associates LLC increased its holdings in shares of LifeStance Health Group by 38.5% in the 1st quarter. Jennison Associates LLC now owns 10,228,801 shares of the company’s stock worth $65,157,000 after acquiring an additional 2,843,388 shares during the period. Institutional investors and hedge funds own 85.50% of the company’s stock.

LifeStance Health Group Company Profile

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.