Integral Health Asset Management LLC Purchases New Holdings in LifeStance Health Group, Inc. $LFST

Integral Health Asset Management LLC acquired a new position in LifeStance Health Group, Inc. (NASDAQ:LFST) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,500,000 shares of the company’s stock, valued at approximately $8,250,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bayesian Capital Management LP acquired a new stake in LifeStance Health Group during the 2nd quarter valued at $52,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of LifeStance Health Group in the third quarter worth $72,000. Jump Financial LLC acquired a new stake in shares of LifeStance Health Group in the second quarter worth $79,000. Prudential Financial Inc. grew its holdings in shares of LifeStance Health Group by 68.6% during the second quarter. Prudential Financial Inc. now owns 17,065 shares of the company’s stock valued at $88,000 after buying an additional 6,945 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in LifeStance Health Group during the third quarter valued at $89,000. 85.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LFST has been the subject of several research analyst reports. Barclays increased their price objective on LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Canaccord Genuity Group upped their target price on LifeStance Health Group from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wall Street Zen raised shares of LifeStance Health Group from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. BTIG Research raised their price target on shares of LifeStance Health Group from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Jefferies Financial Group raised shares of LifeStance Health Group to a “strong-buy” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, LifeStance Health Group presently has an average rating of “Moderate Buy” and a consensus target price of $9.83.

Insider Activity at LifeStance Health Group

In related news, Director Darren M. Black sold 4,314,939 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $7.01, for a total transaction of $30,247,722.39. Following the transaction, the director owned 29,209,776 shares of the company’s stock, valued at approximately $204,760,529.76. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ann Varanakis sold 50,000 shares of LifeStance Health Group stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $6.90, for a total transaction of $345,000.00. Following the completion of the sale, the insider owned 315,610 shares of the company’s stock, valued at $2,177,709. This trade represents a 13.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 4,505,395 shares of company stock valued at $31,580,780. 3.20% of the stock is owned by corporate insiders.

LifeStance Health Group Price Performance

LFST opened at $6.33 on Friday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 316.66 and a beta of 1.11. LifeStance Health Group, Inc. has a 1 year low of $3.74 and a 1 year high of $8.09. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average price of $7.08 and a 200 day moving average price of $6.31.

LifeStance Health Group (NASDAQ:LFST) last issued its earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). LifeStance Health Group had a return on equity of 0.65% and a net margin of 0.68%.The firm had revenue of $382.20 million during the quarter, compared to analyst estimates of $378.51 million. During the same period in the previous year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Analysts forecast that LifeStance Health Group, Inc. will post -0.18 EPS for the current fiscal year.

LifeStance Health Group announced that its board has initiated a stock repurchase plan on Wednesday, February 25th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

LifeStance Health Group 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.