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

LifeStance Health Group, Inc. (NASDAQ:LFST)’s share price reached a new 52-week high on Wednesday. The company traded as high as $13.63 and last traded at $13.3650, with a volume of 3,127,325 shares traded. The stock had previously closed at $13.10.

Analyst Upgrades and Downgrades

Several research analysts have commented on LFST shares. Canaccord Genuity Group lifted their price target on LifeStance Health Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Zacks Research downgraded shares of LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. BTIG Research boosted their target price on shares of LifeStance Health Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. upped their target price on shares of LifeStance Health Group from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Finally, KeyCorp increased their price target on shares of LifeStance Health Group from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, LifeStance Health Group has an average rating of “Moderate Buy” and an average price target of $13.12.

LifeStance Health Group Stock Up 2.2%

The stock has a market capitalization of $5.12 billion, a P/E ratio of 103.01 and a beta of 1.24. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. The firm’s fifty day moving average is $12.43 and its 200-day moving average is $9.25.

LifeStance Health Group (NASDAQ:LFST) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $435.35 million for the quarter, compared to analysts’ expectations of $414.58 million. LifeStance Health Group had a net margin of 3.19% and a return on equity of 3.39%. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) earnings per share. As a group, equities research analysts predict that LifeStance Health Group, Inc. will post 0.16 earnings per share for the current year.

Insider Buying and Selling at LifeStance Health Group

In other news, COO Lisa K. Miller sold 47,912 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $10.85, for a total transaction of $519,845.20. Following the sale, the chief operating officer owned 281,289 shares in the company, valued at approximately $3,051,985.65. This represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vukasin Paunovich sold 44,394 shares of the firm’s stock in a transaction 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 sale, the chief technology officer owned 247,446 shares of the company’s stock, valued at approximately $2,684,789.10. This trade represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,777,580 shares of company stock worth $146,433,781. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LFST. Assetmark Inc. increased its position in LifeStance Health Group by 17.0% in the 1st quarter. Assetmark Inc. now owns 9,419 shares of the company’s stock valued at $60,000 after acquiring an additional 1,367 shares in the last quarter. Signaturefd LLC lifted its position in shares of LifeStance Health Group by 35.6% during the third quarter. Signaturefd LLC now owns 5,357 shares of the company’s stock worth $64,000 after purchasing an additional 1,405 shares in the last quarter. Everhart Financial Group Inc. lifted its position in shares of LifeStance Health Group by 1.3% during the third quarter. Everhart Financial Group Inc. now owns 112,844 shares of the company’s stock worth $1,358,000 after purchasing an additional 1,435 shares in the last quarter. Allworth Financial LP lifted its position in shares of LifeStance Health Group by 7.7% during the second quarter. Allworth Financial LP now owns 26,532 shares of the company’s stock worth $284,000 after purchasing an additional 1,889 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of LifeStance Health Group by 316.5% during the second quarter. IFP Advisors Inc now owns 3,694 shares of the company’s stock valued at $40,000 after purchasing an additional 2,807 shares during the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.

About LifeStance Health Group

LifeStance Health Group, Inc is a provider of outpatient behavioral health services in the United States. Through a network of clinicians and care centers, the company offers mental health care through in-person appointments and telehealth visits.

LifeStance’s services include individual, couples and family therapy; psychiatric evaluation and medication management; psychological and neuropsychological testing; and treatment for conditions such as depression, anxiety, attention-deficit/hyperactivity disorder, bipolar disorder, post-traumatic stress disorder and other behavioral health concerns.