411,701 Shares in LifeStance Health Group, Inc. $LFST Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada Inc. acquired 411,701 LifeStance Health Group shares worth approximately $4.9 million, representing a 0.11% stake. Institutional investors collectively own 85.5% of the company.
• Analysts maintain a generally positive outlook, with LifeStance receiving a “Moderate Buy” consensus rating and an average price target of $13.12, above its reported $11.77 share price.
• LifeStance exceeded quarterly earnings and revenue expectations, reporting $0.06 EPS and $435.35 million in revenue, up 26.1% year over year. However, insiders sold more than 13.7 million shares valued at approximately $146.4 million during the quarter.

TD Waterhouse Canada Inc. bought a new stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 411,701 shares of the company's stock, valued at approximately $4,908,000. TD Waterhouse Canada Inc. owned 0.11% of LifeStance Health Group at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Capstone Investment Advisors LLC purchased a new position in shares of LifeStance Health Group in the second quarter valued at $554,000. Bank of America Corp DE bought a new stake in shares of LifeStance Health Group during the 2nd quarter valued at $14,987,000. Squarepoint Ops LLC bought a new stake in shares of LifeStance Health Group during the 2nd quarter valued at $1,283,000. Moran Wealth Management LLC bought a new stake in shares of LifeStance Health Group during the 1st quarter valued at $953,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in LifeStance Health Group during the 2nd quarter worth about $966,000. Hedge funds and other institutional investors own 85.50% of the company's stock.

Wall Street Analysts Forecast Growth

LFST has been the subject of several analyst reports. Weiss Ratings upgraded LifeStance Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Canaccord Genuity Group lifted their target price on LifeStance Health Group from $13.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, September 9th. Barclays upped their price target on LifeStance Health Group from $13.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, September 10th. JPMorgan Chase & Co. upped their price target on LifeStance Health Group from $9.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, August 14th. Finally, KeyCorp increased their price target on shares of LifeStance Health Group from $13.00 to $15.00 and gave the stock an "overweight" rating in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, LifeStance Health Group presently has an average rating of "Moderate Buy" and an average price target of $13.12.

LifeStance Health Group Stock Up 0.3%

Shares of NASDAQ:LFST opened at $11.77 on Tuesday. The firm has a fifty day moving average price of $12.38 and a two-hundred day moving average price of $10.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38. LifeStance Health Group, Inc. has a one year low of $4.77 and a one year high of $13.56. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 90.55 and a beta of 1.24.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $435.35 million during the quarter, compared to analyst estimates of $414.58 million. LifeStance Health Group had a net margin of 3.19% and a return on equity of 3.39%. The business's revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) EPS. Analysts anticipate that LifeStance Health Group, Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity at LifeStance Health Group

In other LifeStance Health Group news, COO Lisa K. Miller sold 47,912 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $10.85, for a total value of $519,845.20. Following the transaction, the chief operating officer directly owned 281,289 shares in the company, valued at $3,051,985.65. This represents a 14.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vukasin Paunovich sold 42,067 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $12.87, for a total value of $541,402.29. Following the completion of the transaction, the chief technology officer owned 205,379 shares in the company, valued at $2,643,227.73. This represents a 17.00% 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 13,777,580 shares of company stock valued at $146,433,781. Company insiders own 3.50% of the company's stock.

LifeStance Health Group Company Profile

LifeStance Health Group, Inc is a provider of outpatient behavioral health services in the United States. Through a network of clinicians and care centers, the company offers mental health care through in-person appointments and telehealth visits.

LifeStance's services include individual, couples and family therapy; psychiatric evaluation and medication management; psychological and neuropsychological testing; and treatment for conditions such as depression, anxiety, attention-deficit/hyperactivity disorder, bipolar disorder, post-traumatic stress disorder and other behavioral health concerns.

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