Wall Street Zen Downgrades LifeStance Health Group (NASDAQ:LFST) to Buy

LifeStance Health Group (NASDAQ:LFST) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity Group raised their price target on LifeStance Health Group from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Weiss Ratings restated a “hold (c-)” rating on shares of LifeStance Health Group in a report on Wednesday, May 27th. The Goldman Sachs Group initiated coverage on shares of LifeStance Health Group in a research report on Friday, June 5th. They issued a “neutral” rating and a $9.00 price objective for the company. Barclays lifted their target price on shares of LifeStance Health Group from $9.00 to $13.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, KeyCorp boosted their target price on shares of LifeStance Health Group from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. One research 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 company. According to MarketBeat, LifeStance Health Group has an average rating of “Moderate Buy” and a consensus target price of $11.50.

LifeStance Health Group Stock Performance

Shares of LFST opened at $10.90 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.18. The firm has a market cap of $4.23 billion, a PE ratio of 181.67 and a beta of 1.12. LifeStance Health Group has a 12 month low of $3.74 and a 12 month high of $11.76. The stock has a fifty day moving average price of $9.33 and a 200-day moving average price of $7.82.

LifeStance Health Group (NASDAQ:LFST) last announced its earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The firm had revenue of $403.48 million for the quarter, compared to the consensus estimate of $387.46 million. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. Equities research analysts predict that LifeStance Health Group will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at LifeStance Health Group

In other LifeStance Health Group news, Director Eric Shuey sold 243,362 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $1,951,763.24. Following the sale, the director directly owned 867,562 shares of the company’s stock, valued at approximately $6,957,847.24. This represents a 21.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Bessler sold 894,337 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the completion of the sale, the director directly owned 539,763 shares in the company, valued at approximately $5,467,799.19. The trade was a 62.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,687,394 shares of company stock worth $63,579,701 over the last 90 days. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LifeStance Health Group

Several institutional investors and hedge funds have recently modified their holdings of LFST. Handelsbanken Fonder AB boosted its stake in shares of LifeStance Health Group by 37.0% in the second quarter. Handelsbanken Fonder AB now owns 41,100 shares of the company’s stock worth $440,000 after buying an additional 11,100 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in LifeStance Health Group during the second quarter worth about $451,000. Bank of America Corp DE raised its position in LifeStance Health Group by 165.0% during the first quarter. Bank of America Corp DE now owns 1,994,027 shares of the company’s stock valued at $12,702,000 after acquiring an additional 1,241,475 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in LifeStance Health Group by 359.1% during the first quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock valued at $44,000 after acquiring an additional 5,404 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in LifeStance Health Group by 32.1% during the first quarter. California State Teachers Retirement System now owns 166,084 shares of the company’s stock valued at $1,058,000 after acquiring an additional 40,402 shares in the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.

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.