Everhart Financial Group Inc. Purchases Shares of 111,751 LifeStance Health Group, Inc. $LFST

Everhart Financial Group Inc. acquired a new stake in LifeStance Health Group, Inc. (NASDAQ:LFST) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 111,751 shares of the company’s stock, valued at approximately $787,000.

Several other institutional investors have also recently modified their holdings of LFST. Vident Advisory LLC lifted its holdings in shares of LifeStance Health Group by 12.7% during the second quarter. Vident Advisory LLC now owns 21,732 shares of the company’s stock worth $112,000 after purchasing an additional 2,447 shares during the period. State of Wyoming increased its holdings in LifeStance Health Group by 3.8% in the 3rd quarter. State of Wyoming now owns 89,927 shares of the company’s stock worth $495,000 after buying an additional 3,298 shares during the period. Legal & General Group Plc increased its holdings in LifeStance Health Group by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 144,263 shares of the company’s stock worth $746,000 after buying an additional 3,331 shares during the period. Polar Capital Holdings Plc raised its position in LifeStance Health Group by 19.3% during the 3rd quarter. Polar Capital Holdings Plc now owns 21,775 shares of the company’s stock worth $120,000 after buying an additional 3,525 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in LifeStance Health Group by 12.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 33,402 shares of the company’s stock valued at $173,000 after acquiring an additional 3,632 shares during the period. 85.50% of the stock is currently owned by hedge funds and other institutional investors.

LifeStance Health Group Trading Down 0.9%

LifeStance Health Group stock opened at $6.40 on Friday. The firm has a market cap of $2.49 billion, a PE ratio of 320.16 and a beta of 1.11. LifeStance Health Group, Inc. has a 12 month low of $3.74 and a 12 month high of $8.09. The stock’s 50 day simple moving average is $7.00 and its two-hundred day simple moving average is $6.35. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.17.

LifeStance Health Group (NASDAQ:LFST) last posted its earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). LifeStance Health Group had a net margin of 0.68% and a return on equity of 0.65%. The firm had revenue of $382.20 million for the quarter, compared to analysts’ expectations of $378.51 million. During the same period last year, the firm earned ($0.01) earnings per share. LifeStance Health Group’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts anticipate that LifeStance Health Group, Inc. will post -0.18 earnings per share for the current year.

LifeStance Health Group announced that its board has approved a share buyback plan on Wednesday, February 25th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other LifeStance Health Group news, Director Darren M. Black sold 4,314,939 shares of LifeStance Health Group stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $7.01, for a total value of $30,247,722.39. Following the completion of the transaction, the director owned 29,209,776 shares of the company’s stock, valued at approximately $204,760,529.76. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

LFST has been the topic of several recent research reports. KeyCorp upped their price objective on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Barclays raised their target price on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Canaccord Genuity Group upped their price target on shares of LifeStance Health Group from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, February 26th. UBS Group increased their price target on LifeStance Health Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings upgraded LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, LifeStance Health Group has an average rating of “Moderate Buy” and a consensus target price of $9.83.

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.