LifeStance Health Group (NASDAQ:LFST) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of LifeStance Health Group (NASDAQ:LFST) from a strong-buy rating to a buy rating in a report issued on Saturday morning,Wall Street Zen reports.

LFST has been the topic of a number of other research reports. The Goldman Sachs Group began coverage on shares of LifeStance Health Group in a report on Friday, June 5th. They issued a “neutral” rating and a $9.00 price target on the stock. KeyCorp increased their price target on shares of LifeStance Health Group from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Weiss Ratings upgraded LifeStance Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. increased their price target on shares of LifeStance Health Group from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, August 14th. Finally, Zacks Research cut LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.38.

LifeStance Health Group Stock Performance

NASDAQ:LFST opened at $12.73 on Friday. The stock has a market capitalization of $4.94 billion, a PE ratio of 97.93 and a beta of 1.22. The firm’s 50 day moving average is $11.54 and its 200 day moving average is $8.85. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. LifeStance Health Group has a 12 month low of $4.77 and a 12 month high of $13.15.

LifeStance Health Group (NASDAQ:LFST) last posted its 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. The firm had revenue of $435.35 million for the quarter, compared to the consensus estimate of $414.58 million. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%.The business’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) earnings per share. Sell-side analysts expect that LifeStance Health Group will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In other LifeStance Health Group news, COO Lisa K. Miller sold 47,912 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $10.85, for a total transaction of $519,845.20. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Tpg Gp A, Llc sold 13,643,207 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $10.62, for a total transaction of $144,890,858.34. Following the completion of the transaction, the insider owned 98,101,407 shares of the company’s stock, valued at $1,041,836,942.34. This represents a 12.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 14,671,917 shares of company stock worth $155,493,415. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LifeStance Health Group

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of LifeStance Health Group in the 2nd quarter valued at approximately $389,293,000. Vanguard Group Inc. lifted its stake in shares of LifeStance Health Group by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 17,700,041 shares of the company’s stock valued at $124,608,000 after purchasing an additional 3,086,506 shares during the period. Silversmith Partners I GP LLC purchased a new stake in shares of LifeStance Health Group during the 4th quarter worth about $100,842,000. Dimensional Fund Advisors LP boosted its position in LifeStance Health Group by 16.4% during the first quarter. Dimensional Fund Advisors LP now owns 10,367,680 shares of the company’s stock worth $66,038,000 after purchasing an additional 1,461,215 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of LifeStance Health Group by 38.5% during the 1st 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 in the last quarter. 85.50% of the stock is owned by institutional investors and hedge funds.

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.