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

LifeStance Health Group, Inc. (NASDAQ:LFST) reached a new 52-week high during trading on Friday . The stock traded as high as $11.64 and last traded at $11.4750, with a volume of 503803 shares traded. The stock had previously closed at $11.29.

Wall Street Analysts Forecast Growth

LFST has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of LifeStance Health Group in a research report on Wednesday, May 27th. 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. BTIG Research lifted their price target on shares of LifeStance Health Group from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. The Goldman Sachs Group assumed coverage on shares of LifeStance Health Group in a report on Friday, June 5th. They set a “neutral” rating and a $9.00 price objective for the company. Finally, KeyCorp increased their price objective on shares of LifeStance Health Group from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.75.

LifeStance Health Group Stock Performance

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 stock has a market cap of $4.49 billion, a P/E ratio of 193.00 and a beta of 1.12. The business’s 50-day moving average price is $9.01 and its 200-day moving average price is $7.68.

LifeStance Health Group (NASDAQ:LFST) last announced its earnings results on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $403.48 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 21.2% on a year-over-year basis. As a group, sell-side analysts expect that LifeStance Health Group, Inc. will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Eric Shuey sold 243,362 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total transaction of $1,951,763.24. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Darren M. Black sold 5,899,661 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 23,310,115 shares of the company’s stock, valued at $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. Insiders sold a total of 7,762,394 shares of company stock worth $64,107,859 over the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LifeStance Health Group

Several large investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL purchased a new position in shares of LifeStance Health Group in the third quarter valued at about $1,040,000. Everhart Financial Group Inc. purchased a new stake in shares of LifeStance Health Group during the fourth quarter worth about $787,000. Silversmith Partners I GP LLC purchased a new stake in shares of LifeStance Health Group during the fourth quarter worth about $100,842,000. First Eagle Investment Management LLC grew its position in shares of LifeStance Health Group by 13.3% during the fourth quarter. First Eagle Investment Management LLC now owns 1,496,466 shares of the company’s stock worth $10,535,000 after purchasing an additional 176,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in LifeStance Health Group by 21.1% during the 4th quarter. Vanguard Group Inc. now owns 17,700,041 shares of the company’s stock valued at $124,608,000 after purchasing an additional 3,086,506 shares during the period. Hedge funds and other institutional investors own 85.50% of the company’s stock.

About LifeStance Health Group

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.