LifeStance Health Group (NASDAQ:LFST) Lowered to “Buy” Rating by Wall Street Zen

LifeStance Health Group (NASDAQ:LFST) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Other equities analysts also recently issued reports about the stock. KeyCorp increased 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. Canaccord Genuity Group increased their price objective 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. JPMorgan Chase & Co. increased their price objective 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. Jefferies Financial Group raised shares of LifeStance Health Group to a “strong-buy” rating in a report on Thursday, March 12th. Finally, UBS Group increased their price objective on shares of LifeStance Health Group from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.75.

LifeStance Health Group Stock Performance

Shares of NASDAQ LFST opened at $8.50 on Friday. 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 company has a market capitalization of $3.30 billion, a PE ratio of 141.67 and a beta of 1.19. LifeStance Health Group has a 1 year low of $3.74 and a 1 year high of $8.89. The company’s fifty day moving average price is $7.35 and its 200 day moving average price is $7.06.

LifeStance Health Group (NASDAQ:LFST) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 1.55% and a return on equity of 1.56%. The firm’s revenue was up 21.2% on a year-over-year basis. On average, research analysts predict that LifeStance Health Group will post 0.12 earnings per share for the current year.

LifeStance Health Group announced that its board has initiated a stock buyback program on Wednesday, February 25th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Robert Bessler sold 575,034 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $4,611,772.68. Following the completion of the sale, the director directly owned 986,931 shares in the company, valued at approximately $7,915,186.62. This trade represents a 36.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Darren M. Black sold 5,899,661 shares of the firm’s stock in a transaction dated 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 owned 23,310,115 shares of the company’s stock, valued at approximately $186,947,122.30. The trade was a 20.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 6,868,057 shares of company stock worth $55,048,226. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On LifeStance Health Group

Several hedge funds and other institutional investors have recently bought and sold shares of LFST. Silversmith Partners I GP LLC acquired a new stake in LifeStance Health Group during the fourth quarter worth about $100,842,000. AustralianSuper Pty Ltd acquired a new stake in LifeStance Health Group during the third quarter worth about $17,056,000. Vanguard Group Inc. increased its position in shares of LifeStance Health Group by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 17,700,041 shares of the company’s stock valued at $124,608,000 after acquiring an additional 3,086,506 shares during the last quarter. Jennison Associates LLC increased its position in shares of LifeStance Health Group by 38.5% during the first quarter. Jennison Associates LLC now owns 10,228,801 shares of the company’s stock valued at $65,157,000 after acquiring an additional 2,843,388 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of LifeStance Health Group by 62.3% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,793,336 shares of the company’s stock valued at $26,363,000 after acquiring an additional 1,839,465 shares during the last quarter. 85.50% of the stock is currently owned by institutional investors and hedge funds.

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.