LifeStance Health Group (NASDAQ:LFST) Reaches New 1-Year High – Still a Buy?

LifeStance Health Group, Inc. (NASDAQ:LFST)’s stock price reached a new 52-week high on Tuesday . The company 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of LifeStance Health Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of LifeStance Health Group in a research note on Wednesday, May 27th. The Goldman Sachs Group began coverage on shares of LifeStance Health Group in a research note on Friday, June 5th. They issued a “neutral” rating and a $9.00 target price on the stock. Zacks Research upgraded shares of LifeStance Health Group from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock a “neutral” rating in a research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.75.

LifeStance Health Group Stock Up 0.6%

The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 172.33 and a beta of 1.19. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average price of $7.98 and a two-hundred day moving average price of $7.28.

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. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The firm had revenue of $403.48 million during the quarter, compared to analyst estimates of $387.46 million. The business’s revenue for the quarter 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 year.

Insider Activity

In related news, Director Eric Shuey sold 243,362 shares of the business’s 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 completion of the sale, the director directly owned 867,562 shares of the company’s stock, valued at $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 is available through this link. Also, Director Robert Bessler sold 575,034 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $4,611,772.68. Following the sale, the director owned 986,931 shares in the company, valued at $7,915,186.62. The trade was a 36.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,868,057 shares of company stock worth $55,048,226. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LifeStance Health Group

Several institutional investors and hedge funds have recently made changes to their positions in LFST. Vanguard Group Inc. increased its stake in LifeStance Health Group by 19.5% during the third quarter. Vanguard Group Inc. now owns 14,613,535 shares of the company’s stock valued at $80,374,000 after purchasing an additional 2,383,728 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in shares of LifeStance Health Group in the 3rd quarter worth about $1,040,000. Everhart Financial Group Inc. bought a new position in shares of LifeStance Health Group in the 4th quarter worth about $787,000. Integral Health Asset Management LLC acquired a new position in shares of LifeStance Health Group in the 3rd quarter valued at about $8,250,000. Finally, Silversmith Partners I GP LLC acquired a new position in shares of LifeStance Health Group in the 4th quarter valued at about $100,842,000. 85.50% of the stock is owned by institutional investors and hedge funds.

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.