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

Wall Street Zen cut shares of LifeStance Health Group (NASDAQ:LFST) from a strong-buy rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. Barclays upped their target price on LifeStance Health Group from $9.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Zacks Research lowered LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. lifted their price target on LifeStance Health Group from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. Weiss Ratings raised LifeStance Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group assumed coverage on LifeStance Health Group in a report on Friday, June 5th. They issued a “neutral” rating and a $9.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.38.

LifeStance Health Group Trading Down 0.8%

NASDAQ:LFST opened at $12.73 on Friday. The company has a 50-day moving average price of $11.49 and a 200-day moving average price of $8.80. LifeStance Health Group has a 12 month low of $4.77 and a 12 month high of $13.15. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 97.93 and a beta of 1.22.

LifeStance Health Group (NASDAQ:LFST) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. LifeStance Health Group had a net margin of 3.19% and a return on equity of 3.39%. The company had revenue of $435.35 million for the quarter, compared to analysts’ expectations of $414.58 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. LifeStance Health Group’s quarterly revenue was up 26.1% on a year-over-year basis. Equities analysts predict that LifeStance Health Group will post 0.16 EPS for the current year.

Insider Activity

In related news, COO Lisa Miller sold 47,912 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $10.85, for a total transaction of $519,845.20. Following the completion of the sale, the chief operating officer owned 281,289 shares of the company’s stock, valued at $3,051,985.65. This trade represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vukasin Paunovich sold 42,067 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $12.87, for a total transaction of $541,402.29. Following the completion of the transaction, the chief technology officer owned 205,379 shares of the company’s stock, valued at approximately $2,643,227.73. The trade was a 17.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 14,671,917 shares of company stock worth $155,493,415. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in LifeStance Health Group in the 2nd quarter worth about $389,293,000. Vanguard Group Inc. lifted its stake in LifeStance Health Group by 21.1% during the 4th quarter. Vanguard Group Inc. now owns 17,700,041 shares of the company’s stock valued at $124,608,000 after acquiring an additional 3,086,506 shares during the period. Silversmith Partners I GP LLC purchased a new stake in shares of LifeStance Health Group during the 4th quarter valued at about $100,842,000. Dimensional Fund Advisors LP boosted its holdings in shares of LifeStance Health Group by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,367,680 shares of the company’s stock valued at $66,038,000 after acquiring an additional 1,461,215 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of 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 during the period. 85.50% of the stock is owned by institutional investors.

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.