LifeStance Health Group (NASDAQ:LFST) Rating Increased to Hold at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of LifeStance Health Group (NASDAQ:LFST) to a hold rating in a report released on Friday morning,Zacks.com reports.

Several other equities research analysts have also commented on LFST. Canaccord Genuity Group lifted their price target on shares of LifeStance Health Group from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Zacks Research upgraded shares of LifeStance Health Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Jefferies Financial Group upgraded shares of LifeStance Health Group to a “strong-buy” rating in a research note on Thursday, March 12th. KeyCorp lifted their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Finally, UBS Group lifted their price target on shares of LifeStance Health Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, LifeStance Health Group has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

LifeStance Health Group Price Performance

Shares of LFST opened at $7.41 on Friday. LifeStance Health Group has a twelve month low of $3.74 and a twelve month high of $8.89. The firm’s fifty day simple moving average is $7.19 and its 200-day simple moving average is $7.00. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 123.50 and a beta of 1.19. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.18.

LifeStance Health Group (NASDAQ:LFST) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The business had revenue of $403.48 million for the quarter, compared to analyst estimates of $387.46 million. LifeStance Health Group’s revenue was up 21.2% compared to the same quarter last year. Equities analysts forecast that LifeStance Health Group will post 0.12 EPS for the current fiscal year.

LifeStance Health Group announced that its Board of Directors has approved a stock buyback program on Wednesday, February 25th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other LifeStance Health Group news, Director Robert Bessler sold 575,034 shares of LifeStance Health Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $4,611,772.68. Following the transaction, the director directly owned 986,931 shares in the company, valued at approximately $7,915,186.62. The trade was a 36.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Darren M. Black sold 5,899,661 shares of LifeStance Health Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $47,315,281.22. Following the completion of the transaction, the director owned 23,310,115 shares in the company, valued at approximately $186,947,122.30. This represents a 20.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,868,057 shares of company stock worth $55,048,226 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC increased its stake in LifeStance Health Group by 19,952.6% in the fourth quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock valued at $27,000 after purchasing an additional 3,791 shares during the period. KBC Group NV acquired a new position in LifeStance Health Group in the first quarter valued at $29,000. EverSource Wealth Advisors LLC increased its stake in LifeStance Health Group by 359.1% in the first quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock valued at $44,000 after purchasing an additional 5,404 shares during the period. Bayesian Capital Management LP acquired a new position in LifeStance Health Group in the second quarter valued at $52,000. Finally, PNC Financial Services Group Inc. increased its stake in LifeStance Health Group by 615.3% in the first quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company’s stock valued at $59,000 after purchasing an additional 7,987 shares during the period. 85.50% of the stock is currently owned by institutional investors and hedge funds.

About LifeStance Health Group

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.