LifeStance Health Group (NASDAQ:LFST) Lifted to Hold at Zacks Investment Research

LifeStance Health Group (NASDAQ:LFSTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “LifeStance Health Group Inc. is provider of virtual and in-person outpatient mental health care for children, adolescents and adults of mental health conditions. LifeStance Health Group Inc. is based in SCOTTSDALE, Ariz. “

LFST has been the topic of a number of other research reports. The Goldman Sachs Group decreased their target price on shares of LifeStance Health Group from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, March 21st. UBS Group lowered shares of LifeStance Health Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $10.00 in a research report on Thursday, March 17th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, LifeStance Health Group has a consensus rating of “Hold” and an average target price of $16.00.

LifeStance Health Group stock opened at $5.83 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.28 and a quick ratio of 2.28. LifeStance Health Group has a twelve month low of $5.43 and a twelve month high of $29.81. The company’s 50-day moving average price is $9.09 and its two-hundred day moving average price is $9.18.

LifeStance Health Group (NASDAQ:LFSTGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.03). The company had revenue of $203.10 million during the quarter, compared to the consensus estimate of $191.47 million. LifeStance Health Group had a negative net margin of 46.02% and a negative return on equity of 20.93%. LifeStance Health Group’s quarterly revenue was up 41.9% on a year-over-year basis. On average, analysts forecast that LifeStance Health Group will post -0.46 EPS for the current fiscal year.

In other news, CFO Jesse Michael Bruff sold 18,401 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $7.92, for a total transaction of $145,735.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin Michael Mullins sold 46,283 shares of the firm’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $10.68, for a total transaction of $494,302.44. Following the transaction, the insider now directly owns 5,669,472 shares of the company’s stock, valued at approximately $60,549,960.96. The disclosure for this sale can be found here.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in LifeStance Health Group by 130.4% during the third quarter. BlackRock Inc. now owns 4,607,687 shares of the company’s stock worth $66,811,000 after buying an additional 2,607,735 shares during the last quarter. Janus Henderson Group PLC raised its stake in LifeStance Health Group by 42.5% during the third quarter. Janus Henderson Group PLC now owns 3,734,508 shares of the company’s stock worth $54,150,000 after buying an additional 1,114,037 shares during the last quarter. Principal Financial Group Inc. raised its stake in LifeStance Health Group by 7.3% during the first quarter. Principal Financial Group Inc. now owns 2,498,679 shares of the company’s stock worth $25,261,000 after buying an additional 170,079 shares during the last quarter. Rock Springs Capital Management LP raised its stake in LifeStance Health Group by 12.5% during the third quarter. Rock Springs Capital Management LP now owns 1,687,500 shares of the company’s stock worth $24,469,000 after buying an additional 187,500 shares during the last quarter. Finally, Norges Bank bought a new position in LifeStance Health Group during the fourth quarter worth $12,583,000. 80.71% of the stock is owned by institutional investors and hedge funds.

LifeStance Health Group Company Profile (Get Rating)

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.

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