LifeStance Health Group (NASDAQ:LFST) Sets New 52-Week High – Here’s Why

LifeStance Health Group, Inc. (NASDAQ:LFST)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $10.63 and last traded at $10.34, with a volume of 4778688 shares changing hands. The stock had previously closed at $10.28.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on LifeStance Health Group in a report on Friday, June 5th. They issued a “neutral” rating and a $9.00 target price on the stock. Jefferies Financial Group raised shares of LifeStance Health Group to a “strong-buy” rating in a research report on Thursday, March 12th. Zacks Research upgraded shares of LifeStance Health Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of LifeStance Health Group in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

LifeStance Health Group Price Performance

The company’s 50-day simple moving average is $8.15 and its 200 day simple moving average is $7.34. The company has a market capitalization of $4.43 billion, a P/E ratio of 190.50 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 data on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $403.48 million for 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%.The firm’s revenue was up 21.2% compared to the same quarter last year. As a group, sell-side analysts expect that LifeStance Health Group, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at LifeStance Health Group

In other news, Director Eric Shuey sold 243,362 shares of the business’s stock in a transaction 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 completion of the sale, the director directly owned 867,562 shares in the company, valued at approximately $6,957,847.24. The trade was a 21.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Darren M. Black sold 5,899,661 shares of the company’s 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 of the company’s stock, valued at approximately $186,947,122.30. This represents a 20.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 7,762,394 shares of company stock worth $64,107,859. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On LifeStance Health Group

A number of hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in shares of LifeStance Health Group by 19,952.6% in the fourth quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock worth $27,000 after purchasing an additional 3,791 shares during the period. KBC Group NV bought a new stake in LifeStance Health Group during the 1st quarter valued at approximately $29,000. EverSource Wealth Advisors LLC boosted its stake 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 purchasing an additional 5,404 shares during the period. Bayesian Capital Management LP acquired a new stake in LifeStance Health Group in the 2nd quarter valued at approximately $52,000. Finally, PNC Financial Services Group Inc. increased its position in LifeStance Health Group by 615.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company’s stock worth $59,000 after buying an additional 7,987 shares during the period. 85.50% of the stock is currently owned by 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.