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

LifeStance Health Group, Inc. (NASDAQ:LFST) hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $13.63 and last traded at $13.3650, with a volume of 3,127,325 shares. The stock had previously closed at $13.10.

Wall Street Analysts Forecast Growth

LFST has been the topic of a number of analyst reports. KeyCorp increased their price target on LifeStance Health Group from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, October 5th. Canaccord Genuity Group raised their price target on shares of LifeStance Health Group from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. BTIG Research boosted their price objective on shares of LifeStance Health Group from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. raised their price objective on LifeStance Health Group from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. Finally, Weiss Ratings upgraded shares of LifeStance Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. 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 company’s stock. Based on data from MarketBeat.com, LifeStance Health Group has a consensus rating of “Moderate Buy” and an average price target of $13.12.

LifeStance Health Group Stock Performance

The firm has a market cap of $5.12 billion, a P/E ratio of 103.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38. The stock’s 50 day moving average is $12.47 and its two-hundred day moving average is $9.31.

LifeStance Health Group (NASDAQ:LFST) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. LifeStance Health Group had a net margin of 3.19% and a return on equity of 3.39%. The firm had revenue of $435.35 million for the quarter, compared to analyst estimates of $414.58 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. As a group, equities analysts predict that LifeStance Health Group, Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling

In other news, COO Lisa Miller sold 47,912 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $10.85, for a total value of $519,845.20. Following the transaction, the chief operating officer owned 281,289 shares in the company, valued at $3,051,985.65. This represents a 14.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Vukasin Paunovich sold 44,394 shares of the business’s stock in a transaction dated 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 owned 247,446 shares in the company, valued at approximately $2,684,789.10. This trade represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,777,580 shares of company stock worth $146,433,781 in the last three months. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LifeStance Health Group

A number of large investors have recently modified their holdings of the stock. IFP Advisors Inc increased its stake in LifeStance Health Group by 316.5% during the 2nd quarter. IFP Advisors Inc now owns 3,694 shares of the company’s stock valued at $40,000 after buying an additional 2,807 shares during the period. KBC Group NV bought a new position in LifeStance Health Group during the first quarter worth about $29,000. Signaturefd LLC boosted its holdings in LifeStance Health Group by 35.6% in the 3rd quarter. Signaturefd LLC now owns 5,357 shares of the company’s stock valued at $64,000 after purchasing an additional 1,405 shares during the period. USA Financial Formulas acquired a new stake in LifeStance Health Group in the third quarter valued at about $71,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in LifeStance Health Group by 359.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock worth $44,000 after buying an additional 5,404 shares during the period. Institutional investors and hedge funds own 85.50% of the company’s stock.

LifeStance Health Group Company Profile

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.