LifeStance Health Group (NASDAQ:LFST) Sets New 52-Week High – Time to Buy?

LifeStance Health Group, Inc. (NASDAQ:LFST)’s share price reached a new 52-week high during trading on Wednesday. The stock traded as high as $13.77 and last traded at $13.6480, with a volume of 109,401 shares. The stock had previously closed at $13.37.

Analysts Set New Price Targets

LFST has been the topic of a number of recent analyst reports. KeyCorp lifted their price target on LifeStance Health Group from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, October 5th. Wall Street Zen downgraded shares of LifeStance Health Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of LifeStance Health Group from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Zacks Research downgraded shares of LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Barclays lifted 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 Thursday, September 10th. 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. Based on data from MarketBeat.com, LifeStance Health Group currently has an average rating of “Moderate Buy” and an average target price of $13.12.

LifeStance Health Group Stock Up 4.9%

The stock’s 50 day moving average is $12.52 and its 200 day moving average is $9.40. The company has a market capitalization of $5.36 billion, a PE ratio of 107.89 and a beta of 1.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.38 and a current ratio of 1.38.

LifeStance Health Group (NASDAQ:LFST) last issued its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $435.35 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) EPS. On average, sell-side analysts anticipate that LifeStance Health Group, Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Lisa Miller sold 47,912 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $10.85, for a total transaction of $519,845.20. Following the sale, the chief operating officer owned 281,289 shares of the company’s stock, valued at approximately $3,051,985.65. This represents a 14.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Tpg Gp A, Llc sold 13,643,207 shares of LifeStance Health Group stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $10.62, for a total value of $144,890,858.34. Following the transaction, the insider directly owned 98,101,407 shares of the company’s stock, valued at $1,041,836,942.34. The trade was a 12.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 13,777,580 shares of company stock valued at $146,433,781. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in LifeStance Health Group during the 2nd quarter valued at $389,293,000. Dimensional Fund Advisors LP raised its holdings in LifeStance Health Group by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 10,367,680 shares of the company’s stock worth $66,038,000 after buying an additional 1,461,215 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of LifeStance Health Group by 38.5% during the first quarter. Jennison Associates LLC now owns 10,228,801 shares of the company’s stock valued at $65,157,000 after buying an additional 2,843,388 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of LifeStance Health Group in the second quarter worth $30,881,000. Finally, Bank of America Corp DE bought a new stake in shares of LifeStance Health Group in the second quarter worth approximately $14,987,000. 85.50% of the stock is owned by institutional investors.

About LifeStance Health Group

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.