LifeStance Health Group (NASDAQ:LFST) Given New $15.00 Price Target at BTIG Research

LifeStance Health Group (NASDAQ:LFST) had its price objective hoisted by BTIG Research from $12.00 to $15.00 in a research report released on Friday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Several other brokerages have also commented on LFST. 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 LifeStance Health Group in a research report on Friday, June 5th. They issued a “neutral” rating and a $9.00 target price for the company. Barclays lifted their price target on LifeStance Health Group from $9.00 to $13.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. KeyCorp upped their price target on LifeStance Health Group from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Finally, Zacks Research downgraded LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

LifeStance Health Group Price Performance

Shares of LifeStance Health Group stock opened at $10.90 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. The company has a market cap of $4.23 billion, a PE ratio of 181.67 and a beta of 1.12. The business has a 50 day moving average of $9.33 and a 200 day moving average of $7.82. LifeStance Health Group has a 52 week low of $3.74 and a 52 week high of $11.76.

LifeStance Health Group (NASDAQ:LFST) last released its quarterly 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 business had revenue of $403.48 million for the quarter, compared to analysts’ expectations of $387.46 million. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, equities research analysts forecast that LifeStance Health Group will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert Bessler sold 894,337 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the completion of the transaction, the director owned 539,763 shares in the company, valued at $5,467,799.19. The trade was a 62.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Darren M. Black sold 5,899,661 shares of the business’s 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 sale, the director directly owned 23,310,115 shares of the company’s stock, valued at $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. In the last three months, insiders sold 7,687,394 shares of company stock valued at $63,579,701. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On LifeStance Health Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL purchased a new position in LifeStance Health Group in the third quarter worth $1,040,000. Silversmith Partners I GP LLC purchased a new stake in LifeStance Health Group in the fourth quarter valued at about $100,842,000. First Eagle Investment Management LLC boosted its holdings in LifeStance Health Group by 13.3% in the fourth quarter. First Eagle Investment Management LLC now owns 1,496,466 shares of the company’s stock worth $10,535,000 after acquiring an additional 176,000 shares in the last quarter. Jennison Associates LLC boosted its holdings in LifeStance Health Group by 38.5% in the first quarter. Jennison Associates LLC now owns 10,228,801 shares of the company’s stock worth $65,157,000 after acquiring an additional 2,843,388 shares in the last quarter. Finally, Moran Wealth Management LLC purchased a new stake in shares of LifeStance Health Group during the first quarter worth about $953,000. 85.50% of the stock is currently owned by institutional investors.

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.