LifeStance Health Group (NASDAQ:LFST) Reaches New 12-Month High – Still a Buy?

LifeStance Health Group, Inc. (NASDAQ:LFST) shares reached a new 52-week high on Thursday . The stock traded as high as $8.89 and last traded at $8.8650, with a volume of 657996 shares. The stock had previously closed at $8.61.

Wall Street Analyst Weigh In

Several analysts have recently commented on LFST shares. Wall Street Zen downgraded LifeStance Health Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. Zacks Research raised LifeStance Health Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. raised their price objective on LifeStance Health Group from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Jefferies Financial Group raised shares of LifeStance Health Group to a “strong-buy” rating in a report on Thursday, March 12th. Finally, UBS Group upped their target price on shares of LifeStance Health Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, LifeStance Health Group has a consensus rating of “Moderate Buy” and an average price target of $9.75.

LifeStance Health Group Price Performance

The stock has a market cap of $3.48 billion, a PE ratio of 149.67 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.48 and a current ratio of 1.48. The business has a 50 day moving average price of $7.58 and a two-hundred day moving average price of $7.13.

LifeStance Health Group (NASDAQ:LFST) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $403.48 million during the quarter, compared to the consensus estimate of $387.46 million. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.LifeStance Health Group’s revenue was up 21.2% compared to the same quarter last year. Research analysts expect that LifeStance Health Group, Inc. will post 0.12 earnings per share for the current fiscal year.

LifeStance Health Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 25th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at LifeStance Health Group

In other news, Director Darren M. Black sold 5,899,661 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 $47,315,281.22. Following the sale, the director directly owned 23,310,115 shares in the company, valued at $186,947,122.30. The trade was a 20.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric Shuey sold 243,362 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $1,951,763.24. Following the transaction, the director owned 867,562 shares of the company’s stock, valued at approximately $6,957,847.24. The trade was a 21.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,868,057 shares of company stock worth $55,048,226 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Trading of LifeStance Health Group

A number of institutional investors have recently modified their holdings of LFST. Bank of America Corp DE boosted its holdings in LifeStance Health Group by 165.0% in the 1st quarter. Bank of America Corp DE now owns 1,994,027 shares of the company’s stock worth $12,702,000 after buying an additional 1,241,475 shares during the period. EverSource Wealth Advisors LLC raised its holdings in LifeStance Health Group by 359.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock valued at $44,000 after acquiring an additional 5,404 shares during the period. California State Teachers Retirement System lifted its position in shares of LifeStance Health Group by 32.1% during the first quarter. California State Teachers Retirement System now owns 166,084 shares of the company’s stock worth $1,058,000 after acquiring an additional 40,402 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of LifeStance Health Group by 46.4% during the first quarter. Quantinno Capital Management LP now owns 22,210 shares of the company’s stock worth $141,000 after acquiring an additional 7,043 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in shares of LifeStance Health Group in the first quarter worth $3,185,000. 85.50% of the stock is currently owned by hedge funds and other institutional investors.

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.