LifeStance Health Group (NASDAQ:LFST) Initiates Share Repurchase Program

LifeStance Health Group (NASDAQ:LFSTGet Free Report) announced that its board has initiated a stock buyback program on Wednesday, February 25th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

LifeStance Health Group Stock Performance

Shares of LFST traded up $0.27 during mid-day trading on Wednesday, reaching $7.41. 6,148,802 shares of the company’s stock were exchanged, compared to its average volume of 1,661,335. The business’s fifty day simple moving average is $7.12 and its 200-day simple moving average is $6.18. The stock has a market capitalization of $2.88 billion, a PE ratio of -247.00 and a beta of 1.12. LifeStance Health Group has a 52-week low of $3.74 and a 52-week high of $8.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 1.58.

Analyst Ratings Changes

LFST has been the topic of a number of analyst reports. BTIG Research raised their price target on LifeStance Health Group from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Zacks Research downgraded LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. BMO Capital Markets began coverage on LifeStance Health Group in a research note on Thursday, November 13th. They set an “outperform” rating and a $8.00 target price for the company. Barclays initiated coverage on LifeStance Health Group in a report on Tuesday, December 9th. They issued an “overweight” rating and a $8.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LifeStance Health Group in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, LifeStance Health Group presently has an average rating of “Moderate Buy” and an average target price of $9.00.

Check Out Our Latest Stock Analysis on LFST

Trending Headlines about LifeStance Health Group

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Insiders Place Their Bets

In other news, Director Robert Bessler sold 119,942 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $7.04, for a total value of $844,391.68. Following the transaction, the director owned 1,318,983 shares of the company’s stock, valued at approximately $9,285,640.32. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ann Varanakis sold 50,000 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $6.90, for a total value of $345,000.00. Following the sale, the insider directly owned 315,610 shares of the company’s stock, valued at approximately $2,177,709. This represents a 13.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 270,086 shares of company stock worth $1,891,264. 3.20% of the stock is currently owned by company insiders.

About LifeStance Health Group

Get Free Report)

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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