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

LifeStance Health Group (NASDAQ:LFST - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other analysts also recently weighed in on LFST. Wall Street Zen raised LifeStance Health Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 4th. Barclays increased 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. JPMorgan Chase & Co. raised their price target on LifeStance Health Group from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. The Goldman Sachs Group assumed coverage on shares of LifeStance Health Group in a research note on Friday, June 5th. They set a "neutral" rating and a $9.00 price objective on the stock. Finally, BTIG Research upped their price objective on shares of LifeStance Health Group from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.75.

LifeStance Health Group Trading Down 0.8%

Shares of NASDAQ:LFST opened at $10.79 on Monday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. The company's 50-day moving average price is $8.81 and its 200 day moving average price is $7.59. The company has a market cap of $4.18 billion, a PE ratio of 179.83 and a beta of 1.12. LifeStance Health Group has a fifty-two week low of $3.74 and a fifty-two week high of $11.62.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The firm had revenue of $403.48 million during the quarter, compared to analysts' expectations of $387.46 million. The business's revenue for the quarter was up 21.2% on a year-over-year basis. Sell-side analysts anticipate that LifeStance Health Group will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In other LifeStance Health Group news, Director Darren M. Black sold 5,899,661 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total transaction of $47,315,281.22. Following the completion of the transaction, the director directly owned 23,310,115 shares of the company's stock, valued at approximately $186,947,122.30. This trade represents a 20.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Bessler sold 894,337 shares of the business's stock in a transaction on Friday, June 26th. The stock was 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 represents a 62.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 7,762,394 shares of company stock worth $64,107,859 over the last ninety days. Company insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On LifeStance Health Group

Several hedge funds and other institutional investors have recently bought and sold shares of LFST. Handelsbanken Fonder AB raised its holdings in shares of LifeStance Health Group by 37.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 41,100 shares of the company's stock worth $440,000 after purchasing an additional 11,100 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of LifeStance Health Group during the second quarter valued at $451,000. Bank of America Corp DE increased 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 valued at $12,702,000 after purchasing an additional 1,241,475 shares during the period. EverSource Wealth Advisors LLC lifted its position in 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 buying an additional 5,404 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of LifeStance Health Group by 32.1% during the first quarter. California State Teachers Retirement System now owns 166,084 shares of the company's stock worth $1,058,000 after acquiring an additional 40,402 shares in the last quarter. 85.50% of the stock is currently owned by institutional investors.

LifeStance Health Group Company Profile

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.

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