LifeStance Health Group (NASDAQ:LFST) Stock Rating Upgraded by The Goldman Sachs Group

LifeStance Health Group (NASDAQ:LFST) was upgraded by equities research analysts at The Goldman Sachs Group to a “hold” rating in a report issued on Friday,Zacks.com reports.

LFST has been the subject of several other reports. Barclays increased their target price on LifeStance Health Group from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, March 6th. Zacks Research upgraded LifeStance Health Group from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. KeyCorp increased their target price on LifeStance Health Group from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. JPMorgan Chase & Co. increased their target price on LifeStance Health Group from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Jefferies Financial Group upgraded LifeStance Health Group to a “strong-buy” rating in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.75.

LifeStance Health Group Trading Down 3.0%

Shares of LFST stock opened at $7.41 on Friday. The stock has a market capitalization of $2.87 billion, a PE ratio of 123.50 and a beta of 1.19. LifeStance Health Group has a 1-year low of $3.74 and a 1-year high of $8.89. The business has a 50-day moving average of $7.19 and a 200 day moving average of $7.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.48.

LifeStance Health Group (NASDAQ:LFST) last issued its earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $403.48 million during the quarter, compared to analysts’ expectations of $387.46 million. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that LifeStance Health Group will post 0.12 earnings per share for the current year.

LifeStance Health Group announced that its board has authorized a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other LifeStance Health Group news, Director Darren M. Black sold 5,899,661 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $47,315,281.22. Following the completion of the sale, the director owned 23,310,115 shares in the company, valued at approximately $186,947,122.30. This trade represents a 20.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Shuey sold 243,362 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $1,951,763.24. Following the completion of the sale, the director owned 867,562 shares of the company’s stock, valued at approximately $6,957,847.24. This trade represents a 21.91% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 6,868,057 shares of company stock worth $55,048,226. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC raised its position in shares of LifeStance Health Group by 19,952.6% in the 4th quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock worth $27,000 after acquiring an additional 3,791 shares in the last quarter. KBC Group NV bought a new position in LifeStance Health Group during the 1st quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased its position 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 valued at $44,000 after buying an additional 5,404 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of LifeStance Health Group in the 2nd quarter worth $52,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of LifeStance Health Group by 615.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company’s stock worth $59,000 after purchasing an additional 7,987 shares in the last quarter. Institutional investors own 85.50% of the company’s stock.

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.