Zacks Research Downgrades LifeStance Health Group (NASDAQ:LFST) to Hold

LifeStance Health Group (NASDAQ:LFST) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts have also commented on LFST. BTIG Research raised their price objective on shares of LifeStance Health Group from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wall Street Zen raised shares of LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. JPMorgan Chase & Co. lifted their price target on LifeStance Health Group from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. KeyCorp upped their target price on shares of LifeStance Health Group from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Monday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of LifeStance Health Group in a report on Wednesday, May 27th. One 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.75.

LifeStance Health Group Stock Down 0.8%

LifeStance Health Group stock opened at $10.79 on Monday. LifeStance Health Group has a fifty-two week low of $3.74 and a fifty-two week high of $11.62. 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 firm has a 50 day moving average price of $8.81 and a 200 day moving average price of $7.59. The company has a market capitalization of $4.18 billion, a PE ratio of 179.83 and a beta of 1.12.

LifeStance Health Group (NASDAQ:LFST) last announced its earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The company had revenue of $403.48 million for the quarter, compared to analyst estimates of $387.46 million. The company’s revenue was up 21.2% on a year-over-year basis. Research analysts expect that LifeStance Health Group will post 0.12 earnings per share 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 stock in a transaction that occurred on 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 completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Shuey sold 243,362 shares of LifeStance Health Group 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 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 7,762,394 shares of company stock valued at $64,107,859. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its stake in LifeStance Health Group by 37.0% in the second quarter. Handelsbanken Fonder AB now owns 41,100 shares of the company’s stock valued at $440,000 after buying an additional 11,100 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in LifeStance Health Group in the 2nd quarter valued at about $451,000. Bank of America Corp DE boosted its holdings in LifeStance Health Group by 165.0% during the first 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of LifeStance Health Group by 359.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock worth $44,000 after acquiring an additional 5,404 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in LifeStance Health Group by 32.1% during the 1st quarter. California State Teachers Retirement System now owns 166,084 shares of the company’s stock worth $1,058,000 after buying an additional 40,402 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.