LifeStance Health Group (NASDAQ:LFST) Price Target Raised to $13.00

LifeStance Health Group (NASDAQ:LFST) had its target price raised by Canaccord Genuity Group from $11.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

LFST has been the topic of a number of other reports. Zacks Research downgraded shares of LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen raised shares of LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. KeyCorp increased their price target 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, July 13th. Barclays lifted their price target on LifeStance Health Group from $9.00 to $13.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. boosted their price objective on LifeStance Health Group from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.12.

LifeStance Health Group Price Performance

LFST stock opened at $10.81 on Tuesday. The stock’s 50 day moving average is $9.27 and its two-hundred day moving average is $7.79. LifeStance Health Group has a 52-week low of $3.74 and a 52-week high of $11.76. The company has a market capitalization of $4.19 billion, a PE ratio of 180.17 and a beta of 1.12. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.18.

LifeStance Health Group (NASDAQ:LFST) last released its earnings results on Wednesday, May 6th. The company reported $0.04 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 during the quarter, compared to analysts’ expectations of $387.46 million. LifeStance Health Group’s revenue for the quarter was up 21.2% on a year-over-year basis. Analysts predict that LifeStance Health Group will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at LifeStance Health Group

In other news, Director Robert Bessler sold 894,337 shares of LifeStance Health Group stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $10.13, for a total value of $9,059,633.81. Following the completion of the transaction, the director directly owned 539,763 shares of the company’s stock, valued at approximately $5,467,799.19. The trade was a 62.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Darren M. Black sold 5,899,661 shares of the business’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 $47,315,281.22. Following the sale, the director directly owned 23,310,115 shares of the company’s stock, valued at approximately $186,947,122.30. This represents a 20.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 7,687,394 shares of company stock worth $63,579,701 over the last 90 days. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On LifeStance Health Group

A number of large investors have recently bought and sold shares of LFST. Handelsbanken Fonder AB boosted its stake in LifeStance Health Group by 37.0% in the second quarter. Handelsbanken Fonder AB now owns 41,100 shares of the company’s stock valued at $440,000 after acquiring an additional 11,100 shares during the period. Contravisory Investment Management Inc. acquired a new stake in shares of LifeStance Health Group during the 2nd quarter worth approximately $451,000. Bank of America Corp DE lifted its holdings in shares of LifeStance Health Group by 165.0% in the 1st quarter. Bank of America Corp DE now owns 1,994,027 shares of the company’s stock worth $12,702,000 after purchasing an additional 1,241,475 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of LifeStance Health Group by 359.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock worth $44,000 after purchasing an additional 5,404 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in LifeStance Health Group by 32.1% during the 1st quarter. California State Teachers Retirement System now owns 166,084 shares of the company’s stock valued at $1,058,000 after purchasing an additional 40,402 shares during the period. 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.