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

Zacks Research lowered shares of LifeStance Health Group (NASDAQ:LFST) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other equities analysts have also issued reports on LFST. KeyCorp boosted their target price on shares of LifeStance Health Group from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday. 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 for the company. Barclays lifted their target price on LifeStance Health Group from $9.00 to $13.00 and gave the stock an “overweight” rating in a research report on Tuesday. Weiss Ratings restated a “hold (c-)” rating on shares of LifeStance Health Group in a research note on Wednesday, May 27th. Finally, BTIG Research upped their price target on LifeStance Health Group from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.75.

LifeStance Health Group Stock Performance

Shares of LFST opened at $10.79 on Monday. The company has a market capitalization of $4.18 billion, a PE ratio of 179.83 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.48. LifeStance Health Group has a one year low of $3.74 and a one year high of $11.62. The company’s fifty day moving average price is $8.81 and its 200 day moving average price is $7.59.

LifeStance Health Group (NASDAQ:LFST) last issued its quarterly earnings results 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. 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 the consensus estimate of $387.46 million. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, analysts expect that LifeStance Health Group will post 0.12 earnings per share for the current year.

Insider Activity

In related news, Director Darren M. Black sold 5,899,661 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $47,315,281.22. Following the sale, the director owned 23,310,115 shares of the company’s stock, valued at $186,947,122.30. The trade was a 20.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric Shuey sold 243,362 shares of LifeStance Health Group 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 $1,951,763.24. Following the sale, the director directly owned 867,562 shares in the company, valued at $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. In the last three months, insiders have sold 7,762,394 shares of company stock worth $64,107,859. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On LifeStance Health Group

Several large investors have recently made changes to their positions in LFST. Larson Financial Group LLC boosted its position in LifeStance Health Group by 19,952.6% in the fourth quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock valued at $27,000 after buying an additional 3,791 shares in the last quarter. KBC Group NV acquired a new stake in shares of LifeStance Health Group in the first quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its position in LifeStance Health Group by 359.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock worth $44,000 after buying an additional 5,404 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of LifeStance Health Group in the second quarter worth about $52,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of LifeStance Health Group by 615.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company’s stock valued at $59,000 after purchasing an additional 7,987 shares during the last quarter. 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.