LifeStance Health Group (NASDAQ:LFST) Reaches New 52-Week High – Here’s Why

LifeStance Health Group, Inc. (NASDAQ:LFST) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $12.88 and last traded at $12.6580, with a volume of 9562 shares trading hands. The stock had previously closed at $12.55.

Analysts Set New Price Targets

LFST has been the subject of a number of recent research reports. Wall Street Zen raised shares of LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. KeyCorp lifted their price target on LifeStance Health Group from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, July 13th. BTIG Research upped their price objective on LifeStance Health Group from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Zacks Research lowered LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of LifeStance Health Group from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.12.

LifeStance Health Group Stock Up 1.3%

The company has a 50-day moving average of $10.49 and a 200-day moving average of $8.26. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 97.85 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18.

LifeStance Health Group (NASDAQ:LFST) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%.The business had revenue of $435.35 million during the quarter, compared to the consensus estimate of $414.58 million. During the same quarter last year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 26.1% on a year-over-year basis. On average, equities analysts predict that LifeStance Health Group, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Activity at LifeStance Health Group

In related news, Director Robert Bessler sold 894,337 shares of LifeStance Health Group stock in a transaction that occurred on 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 sale, the director directly owned 539,763 shares in the company, valued at $5,467,799.19. This trade represents a 62.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Vukasin Paunovich sold 44,394 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $10.85, for a total transaction of $481,674.90. Following the sale, the chief technology officer directly owned 247,446 shares in the company, valued at approximately $2,684,789.10. This represents a 15.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 14,629,850 shares of company stock valued at $154,952,012. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On LifeStance Health Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in LifeStance Health Group by 19,952.6% in the 4th quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock worth $27,000 after acquiring an additional 3,791 shares during the last quarter. KBC Group NV acquired a new position in shares of LifeStance Health Group in the first quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its stake in shares of LifeStance Health Group by 359.1% in the first 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. Bayesian Capital Management LP purchased a new position in shares of LifeStance Health Group in the second quarter worth about $52,000. Finally, PNC Financial Services Group Inc. lifted its holdings 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 worth $59,000 after purchasing an additional 7,987 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.