LifeStance Health Group (NASDAQ:LFST) Sets New 12-Month High - Here's What Happened

Key Points

• LifeStance Health Group hit a new 52-week high, trading as high as $11.64 and ending near $11.48, up about 1.7% on the day.
• Analyst sentiment has improved, with KeyCorp and Barclays both raising price targets to $13 and several firms maintaining Buy/Overweight ratings; the consensus rating remains Moderate Buy.
• Recent earnings were better than expected, as the company posted $0.04 EPS versus $0.01 expected and revenue of $403.48 million, up 21.2% year over year.

LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $11.64 and last traded at $11.4750, with a volume of 503803 shares traded. The stock had previously closed at $11.29.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LFST shares. KeyCorp lifted their target price on shares of LifeStance Health Group from $11.00 to $13.00 and gave the stock an "overweight" rating in a research report on Monday. Wall Street Zen raised shares of LifeStance Health Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 4th. Weiss Ratings reissued a "hold (c-)" rating on shares of LifeStance Health Group in a research note on Wednesday, May 27th. BTIG Research increased their target price on LifeStance Health Group from $11.00 to $12.00 and gave the company a "buy" rating in a report on Friday, May 8th. Finally, Barclays raised their target price on LifeStance Health Group from $9.00 to $13.00 and gave the stock an "overweight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, LifeStance Health Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.75.

LifeStance Health Group Trading Up 1.7%

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.18. The company has a market cap of $4.45 billion, a PE ratio of 191.73 and a beta of 1.12. The business's 50-day simple moving average is $8.93 and its 200-day simple moving average is $7.65.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, beating 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 business had revenue of $403.48 million for the quarter, compared to analysts' expectations of $387.46 million. The firm's quarterly revenue was up 21.2% on a year-over-year basis. As a group, analysts expect that LifeStance Health Group, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Bessler sold 894,337 shares of the firm's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the completion of the sale, the director directly owned 539,763 shares of the company's stock, valued at $5,467,799.19. This trade represents a 62.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Darren M. Black sold 5,899,661 shares of LifeStance Health Group stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $47,315,281.22. Following the sale, the director owned 23,310,115 shares of the company's stock, valued at approximately $186,947,122.30. This represents a 20.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,762,394 shares of company stock valued at $64,107,859 in the last three months. Insiders own 3.50% of the company's stock.

Institutional Trading of LifeStance Health Group

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of LifeStance Health Group by 63.4% during the 1st quarter. Royal Bank of Canada now owns 70,248 shares of the company's stock valued at $468,000 after purchasing an additional 27,244 shares in the last quarter. AQR Capital Management LLC boosted its holdings in LifeStance Health Group by 223.0% in the first quarter. AQR Capital Management LLC now owns 51,500 shares of the company's stock worth $343,000 after purchasing an additional 35,554 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in LifeStance Health Group by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,950 shares of the company's stock worth $952,000 after buying an additional 4,169 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in LifeStance Health Group by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 615,652 shares of the company's stock worth $4,100,000 after buying an additional 11,331 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in LifeStance Health Group by 10.2% during the second quarter. JPMorgan Chase & Co. now owns 550,657 shares of the company's stock valued at $2,847,000 after buying an additional 51,154 shares in the last quarter. 85.50% of the stock is 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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