LifeStance Health (LFST)
Delivers outpatient psychiatry, testing, and therapy through virtual visits and U.S. centers.
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Provides psychiatric care, psychological and neuropsychological testing, and therapy through virtual visits and U.S. centers. Revenue comes mainly from fee-for-service visits covered by commercial in-network insurance, with operations split between owned subsidiaries and clinician-owned supported practices.
Delivers outpatient mental-health care through virtual visits and centers across the United States. Psychiatrists, advanced practice nurses, psychologists, and therapists provide psychiatric evaluations and treatment, psychological and neuropsychological testing, and individual, family, and group therapy.
Generates revenue mainly from fee-for-service patient visits covered by commercial in-network insurance, with smaller government-payor and self-pay contributions. Centralized recruiting, credentialing, scheduling, billing, technology, and payor contracting support clinicians and help match available capacity with patients.
Growth depends on hiring and retaining clinicians, improving clinician productivity, sustaining patient demand, and maintaining reimbursement and network access. In states restricting corporate medical ownership, care is delivered through clinician-owned supported practices under long-term management-services contracts, making the operating model dependent on those relationships and state healthcare rules.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 10, 2026 | Barclays | Reiterate | Rating: —Target: $13 | Target: $15 |
| Sep 9, 2026 | Canaccord Genuity | Reiterate | Rating: —Target: $13 | Target: $15 |
| Aug 19, 2026 | BTIG | Reiterate | Rating: —Target: $16 | Target: $19 |
| Aug 7, 2026 | Morgan Stanley | Reiterate | Rating: —Target: — | Target: $13 |
| Aug 7, 2026 | BMO Capital | Reiterate | Rating: —Target: $10 | Target: $13 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $225.9M · Total debt $200.7M · Total assets $2.18B · Shareholders' equity $1.48B
- Revenue
- $435.4M
- Operating income
- $30.7M
- Net income
- $23.6M
No dividends on record.
| Institutions | ≈ 96.65% | 374.83M shares | |
|---|---|---|---|
| 297 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 7.43% | 28.81M shares | |
| 17 holders · as of Sep 4, 2026 | |||
| Strategic holders | 3.69% | 14.32M shares | |
| 1 holder · as of Aug 20, 2025 | |||
| Adds to | 107.77% | ||
387.83M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 107.77%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
TPG GP A, LLCInstitution | 28.81% | 111.74M | as of Jun 30, 2026 |
FMR LLCInstitution | 15.02% | 58.25M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 9.37% | 36.35M | as of Jun 30, 2026 |
Summit Partners L PInstitution | 6.01% | 23.31M | as of Jun 30, 2026 |
Michael K. Lester1,2Insiderofficer: President and CEO | 5.54% | 21.54M | filed Jun 14, 2022 |
- Michael K. Lester's transaction reports restate only vehicles that traded; the 2022 ownership statement (21.54M) less the 39.5K net shares sold since is used instead.
- Michael K. Lester reports a block also reported by Summit Partners L P; it is counted once, under Summit Partners L P.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 11, 2026 | TPG GP A, LLC | 10 percent owner | −18,409,705 | $12.29 |
| Sep 2, 2026 | Vukasin Paunovich | officer: Chief Technology Officer | −42,067 | $12.87 |
| Aug 14, 2026 | Teresa DeLuca | director | −7,500 | $12.68 |
| Aug 13, 2026 | Teresa DeLuca | director | −20,441 | $12.23 |
| Aug 11, 2026 | Kenneth A. Burdick | director | −500,000 | $11.51 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| LifeStance Health | $12.12 | −3.43% | $4.87B | 96.8 | 55.6 | 3.1 | +26.1% |
| Teladoc Health | $6.22 | −2.05% | $1.15B | — | — | 0.5 | −4.0% |
| Acadia Healthcare | $28.80 | −1.95% | $2.73B | — | 17.3 | 0.8 | −0.4% |
| Universal Health Services | $184.12 | +2.69% | $10.85B | 7.4 | 8.0 | 0.6 | +8.3% |
| Hims & Hers Health | $29.52 | −2.99% | $6.79B | — | 137.3 | 2.6 | +38.3% |
| Amwell | $13.52 | +2.31% | $224.7M | — | — | 1.0 | −26.6% |
| Median | 7.4 | 17.3 | 0.8 | −0.4% |