LifeStance Health Group (NASDAQ:LFST) Reaches New 12-Month High - Time to Buy?

Key Points

• LifeStance Health Group shares hit a new 52-week high, trading as high as $9.54 after closing at $9.20, reflecting a recent 2.6% move higher.
• Recent results were better than expected, with quarterly EPS of $0.04 versus the $0.01 estimate and revenue of $403.5 million above forecasts, up 21.2% year over year.
• Analyst sentiment is mixed but generally constructive: the stock has a Moderate Buy consensus with a $9.75 average target, while the company also has a $100 million share repurchase authorization in place.

LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $9.54 and last traded at $9.44, with a volume of 2932327 shares traded. The stock had previously closed at $9.20.

Analyst Upgrades and Downgrades

LFST has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on LifeStance Health Group from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Wall Street Zen lowered shares of LifeStance Health Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 13th. Weiss Ratings reiterated a "hold (c-)" rating on shares of LifeStance Health Group in a research note on Wednesday, May 27th. The Goldman Sachs Group initiated coverage on shares of LifeStance Health Group in a research report on Friday, June 5th. They issued a "neutral" rating and a $9.00 price objective for the company. Finally, Jefferies Financial Group raised shares of LifeStance Health Group to a "strong-buy" rating in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $9.75.

LifeStance Health Group Trading Up 2.6%

The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 157.33 and a beta of 1.19. 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 business has a 50 day moving average price of $7.70 and a 200-day moving average price of $7.18.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its quarterly 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. The firm had revenue of $403.48 million for the quarter, compared to analyst estimates of $387.46 million. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, research analysts expect that LifeStance Health Group, Inc. will post 0.12 EPS for the current fiscal year.

LifeStance Health Group announced that its board has initiated a share repurchase plan on Wednesday, February 25th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, Director Eric Shuey sold 243,362 shares of LifeStance Health Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $1,951,763.24. Following the sale, the director owned 867,562 shares of the company's stock, valued at $6,957,847.24. The trade was a 21.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Bessler sold 575,034 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total transaction of $4,611,772.68. Following the completion of the transaction, the director owned 986,931 shares in the company, valued at $7,915,186.62. This represents a 36.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 6,868,057 shares of company stock worth $55,048,226. 6.60% of the stock is currently owned by company insiders.

Institutional Trading of LifeStance Health Group

A number of hedge funds and other institutional investors have recently modified their holdings of LFST. Larson Financial Group LLC boosted its holdings in 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 valued at $27,000 after purchasing an additional 3,791 shares during the last quarter. KBC Group NV purchased a new stake in LifeStance Health Group during the 1st quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its position in shares of LifeStance Health Group by 359.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company's stock valued at $44,000 after purchasing an additional 5,404 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of LifeStance Health Group by 615.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company's stock valued at $59,000 after purchasing an additional 7,987 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of LifeStance Health Group by 17.0% in the 1st quarter. Assetmark Inc. now owns 9,419 shares of the company's stock valued at $60,000 after purchasing an additional 1,367 shares in the last quarter. 85.50% of the stock is owned by hedge funds and other 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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