Fidelity Management & Research Co recently announced the acquisition of new stake in LifeStance Health Group Inc (NASDAQ:LFST). The institutional investor has increased its shareholding in the Healthcare company by 7.47% to 24.92 million shares with purchase of 1.73 million shares. This fresh investment now brings its stake to 6.58% valued currently at $171.18 million. In addition, The Vanguard Group, Inc. raised its holdings by 81291.0 to 7.32 million shares.
With over 0.46 million LifeStance Health Group Inc (LFST) shares trading Friday and a closing price of $7.67 on the day, the dollar volume was approximately $3.56 million. The shares have shown a negative half year performance of -14.40% and its price on 12/22/23 gained nearly 0.92%. Currently, there are 375.96M common shares owned by the public and among those 73.72M shares have been available to trade.
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Insiders at the company have transacted a total of 45 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 3,858,981 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 1,341,168 shares.
The top 3 mutual fund holders in LifeStance Health Group Inc are Fidelity Select Medical Technolog, Fidelity Select Port. – Health Ca, and Fidelity Select Health Care Servi. Fidelity Select Medical Technolog owns 6.7 million shares of the company’s stock, all valued at over $46.03 million. The company bought an additional 0.3 million shares recently to bring their total holdings to about 1.77% of the shares outstanding. Fidelity Select Port. – Health Ca sold -0.2 million shares to see its total holdings shrink to 5.8 million shares valued at over $39.85 million and representing 1.53% of the shares outstanding. Fidelity Select Health Care Servi bought 1.04 million shares to bring its total holdings to over 4.22 million shares at a value of $29.0 million. Fidelity Select Health Care Servi now owns shares totaling to 1.12% of the shares outstanding.
Shares of LifeStance Health Group Inc (NASDAQ: LFST) opened at $7.67, up $0.07 from a prior closing price of $7.60. However, the script later moved the day high at 7.73, up 0.92%. The company’s stock has a 5-day price change of 5.50% and 9.89% over the past three months. LFST shares are trading 55.26% year to date (YTD), with the 12-month market performance up to 60.46% higher. It has a 12-month low price of $4.22 and touched a high of $9.59 over the same period. LFST has an average intraday trading volume of 933.62K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.19%, 21.75%, and 1.91% respectively.
Institutional ownership of LifeStance Health Group Inc (NASDAQ: LFST) shares accounts for 20.85% of the company’s 375.96M shares outstanding. Mutual fund holders own 64.67%, while other institutional holders and individual stakeholders account for 7.47% and 13.38% respectively.
It has a market capitalization of $2.90B and a beta (3y monthly) value of 1.23. The earnings-per-share (ttm) stands at -$0.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.36% over the week and 4.30% over the month.
Analysts forecast that LifeStance Health Group Inc (LFST) will achieve an EPS of -$0.08 for the current quarter, -$0.08 for the next quarter and -$0.24 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.07. Comparatively, EPS for the current quarter was -$0.13 a year ago. Earnings per share for the fiscal year are expected to increase by 22.85%, and 40.59% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate LifeStance Health Group Inc (LFST) as a “Moderate Buy” at a consensus score of 2.14. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 4 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LFST, a number of firms have released research notes about the stock. TD Cowen stated their Market Perform rating for the stock in a research note on May 15, 2023, with the firm’s price target at $8-$9.
