LifeStance Health Group (NASDAQ:LFST) Stock Rating Upgraded by Zacks Research

LifeStance Health Group (NASDAQ:LFST) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings raised shares of LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, February 27th. Barclays lifted their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. KeyCorp lifted their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. UBS Group raised their price objective on shares of LifeStance Health Group from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Canaccord Genuity Group raised their price objective on shares of LifeStance Health Group from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, LifeStance Health Group presently has a consensus rating of “Buy” and a consensus price target of $9.83.

LifeStance Health Group Stock Performance

NASDAQ:LFST opened at $7.67 on Monday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.97 billion, a P/E ratio of 383.69 and a beta of 1.13. LifeStance Health Group has a fifty-two week low of $3.74 and a fifty-two week high of $8.09. The firm’s 50 day moving average is $6.75 and its two-hundred day moving average is $6.59.

LifeStance Health Group (NASDAQ:LFST) last issued its earnings results on Wednesday, February 25th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). LifeStance Health Group had a net margin of 0.68% and a return on equity of 0.65%. The business had revenue of $382.20 million during the quarter, compared to analysts’ expectations of $378.51 million. During the same period in the prior year, the business posted ($0.01) EPS. The business’s revenue was up 17.4% on a year-over-year basis. Analysts expect that LifeStance Health Group will post 0.09 EPS for the current year.

LifeStance Health Group declared that its board has approved a stock buyback plan on Wednesday, February 25th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Robert Bessler sold 62,147 shares of LifeStance Health Group stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $7.05, for a total value of $438,136.35. Following the sale, the director directly owned 1,274,448 shares in the company, valued at $8,984,858.40. This trade represents a 4.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Darren M. Black sold 4,314,939 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $7.01, for a total transaction of $30,247,722.39. Following the sale, the director owned 29,209,776 shares in the company, valued at $204,760,529.76. This trade represents a 12.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 4,389,939 shares of company stock worth $30,775,881. 6.60% of the stock is currently owned by insiders.

Institutional Trading of LifeStance Health Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC increased its position in shares of 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 worth $27,000 after acquiring an additional 3,791 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of LifeStance Health Group in the second quarter worth approximately $52,000. Krane Funds Advisors LLC purchased a new position in shares of LifeStance Health Group in the fourth quarter worth approximately $71,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of LifeStance Health Group in the third quarter worth approximately $72,000. Finally, Cibc World Markets Corp purchased a new position in shares of LifeStance Health Group in the fourth quarter worth approximately $77,000. 85.50% of the stock is currently owned by institutional investors.

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.