Key Points
- Director Robert Bessler sold 75,000 LifeStance Health Group shares on May 7 at an average price of $8.55, generating about $641,250. After the sale, he still owned 1.24 million shares.
- LifeStance reported stronger-than-expected quarterly results, posting EPS of $0.04 versus a $0.01 estimate and revenue of $403.48 million, up 21.2% year over year.
- Analysts remain bullish on LFST, with several recent target price increases and an average rating of “Buy” with a $10.00 target price, while the company also has a $100 million stock buyback authorization in place.
LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report) Director Robert Bessler sold 75,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $8.55, for a total value of $641,250.00. Following the completion of the sale, the director owned 1,236,948 shares of the company's stock, valued at approximately $10,575,905.40. This trade represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Robert Bessler also recently made the following trade(s):
- On Friday, April 24th, Robert Bessler sold 62,147 shares of LifeStance Health Group stock. The shares were sold at an average price of $7.05, for a total value of $438,136.35.
- On Thursday, April 23rd, Robert Bessler sold 7,752 shares of LifeStance Health Group stock. The shares were sold at an average price of $7.00, for a total value of $54,264.00.
- On Tuesday, April 21st, Robert Bessler sold 5,101 shares of LifeStance Health Group stock. The shares were sold at an average price of $7.01, for a total value of $35,758.01.
LifeStance Health Group Trading Down 0.4%
Shares of LFST stock opened at $7.67 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.97 billion, a P/E ratio of 127.83 and a beta of 1.20. The stock has a 50 day simple moving average of $6.82 and a 200 day simple moving average of $6.72. LifeStance Health Group, Inc. has a 1 year low of $3.74 and a 1 year high of $8.89.
LifeStance Health Group (NASDAQ:LFST - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The business 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 1.55% and a net margin of 1.55%.The firm's revenue for the quarter was up 21.2% on a year-over-year basis. On average, research analysts predict that LifeStance Health Group, Inc. will post 0.08 earnings per share for the current fiscal year.
LifeStance Health Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 25th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.
Institutional Investors Weigh In On LifeStance Health Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in LifeStance Health Group by 17.0% during the first quarter. Assetmark Inc. now owns 9,419 shares of the company's stock worth $60,000 after purchasing an additional 1,367 shares during the last quarter. Park Edge Advisors LLC lifted its stake in shares of LifeStance Health Group by 14.4% in the 4th quarter. Park Edge Advisors LLC now owns 11,863 shares of the company's stock valued at $84,000 after acquiring an additional 1,495 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of LifeStance Health Group by 1.6% in the 4th quarter. California State Teachers Retirement System now owns 125,682 shares of the company's stock valued at $885,000 after acquiring an additional 1,966 shares during the last quarter. Vident Advisory LLC lifted its stake in shares of LifeStance Health Group by 12.7% in the 2nd quarter. Vident Advisory LLC now owns 21,732 shares of the company's stock valued at $112,000 after acquiring an additional 2,447 shares during the last quarter. Finally, Xponance LLC lifted its stake in shares of LifeStance Health Group by 26.4% in the 4th quarter. Xponance LLC now owns 13,144 shares of the company's stock valued at $93,000 after acquiring an additional 2,745 shares during the last quarter. 85.50% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on LFST shares. BTIG Research upped their target price on LifeStance Health Group from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday. Jefferies Financial Group upgraded LifeStance Health Group to a "strong-buy" rating in a research note on Thursday, March 12th. Canaccord Genuity Group upped their target price on LifeStance Health Group from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Barclays upped their target price on LifeStance Health Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a research note on Friday, March 6th. Finally, Zacks Research upgraded LifeStance Health Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $10.00.
View Our Latest Report on LifeStance Health Group
About LifeStance Health Group
(
Get Free Report)
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.
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