LifeStance Health Group (NASDAQ:LFST) Hits New 52-Week High - Here's What Happened

Key Points

• LifeStance Health Group shares reached a new 52-week high of $12.88, rising 1.3% to around $12.66. Analysts maintain a “Moderate Buy” consensus, with an average price target of $12.12 and several firms recently raising their targets.
• The company reported stronger-than-expected quarterly results, with EPS of $0.06 versus estimates of $0.03 and revenue of $435.35 million, up 26.1% year over year and above the $414.58 million consensus.
• Insiders sold substantial amounts of stock, totaling 14.6 million shares worth approximately $155 million over the past three months, while institutional investors own 85.5% of the company.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LFST. BTIG Research increased their price objective on shares of LifeStance Health Group from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. KeyCorp boosted their target price on LifeStance Health Group from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. JPMorgan Chase & Co. upped their target price on LifeStance Health Group from $9.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday. Zacks Research downgraded LifeStance Health Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Finally, Barclays raised 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $12.12.

LifeStance Health Group Stock Up 1.3%

The company has a market cap of $4.93 billion, a PE ratio of 97.85 and a beta of 1.14. The company's 50 day moving average is $10.49 and its 200 day moving average is $8.26. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The company 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 firm's revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. As a group, analysts predict that LifeStance Health Group, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at LifeStance Health Group

In other LifeStance Health Group news, CTO Vukasin Paunovich sold 44,394 shares of LifeStance Health Group stock in a transaction 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 completion of the sale, the chief technology officer directly owned 247,446 shares of the company's stock, valued at $2,684,789.10. The trade was a 15.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Bessler sold 894,337 shares of LifeStance Health Group stock in a transaction 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 sale, the director directly owned 539,763 shares of the company's stock, valued at approximately $5,467,799.19. This trade represents a 62.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,629,850 shares of company stock worth $154,952,012 over the last three months. Company insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On LifeStance Health Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. raised its holdings in shares of LifeStance Health Group by 17.0% in the first quarter. Assetmark Inc. now owns 9,419 shares of the company's stock valued at $60,000 after acquiring an additional 1,367 shares in the last quarter. California State Teachers Retirement System grew its holdings in LifeStance Health Group by 1.6% during the 4th quarter. California State Teachers Retirement System now owns 125,682 shares of the company's stock worth $885,000 after acquiring an additional 1,966 shares in the last quarter. Vident Advisory LLC grew its holdings in LifeStance Health Group by 12.7% during the 2nd quarter. Vident Advisory LLC now owns 21,732 shares of the company's stock worth $112,000 after acquiring an additional 2,447 shares in the last quarter. Xponance LLC increased its position in LifeStance Health Group by 26.4% during the 4th quarter. Xponance LLC now owns 13,144 shares of the company's stock valued at $93,000 after purchasing an additional 2,745 shares during the period. Finally, Diversified Trust Co increased its position in LifeStance Health Group by 14.8% during the 1st quarter. Diversified Trust Co now owns 21,532 shares of the company's stock valued at $137,000 after purchasing an additional 2,770 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.

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