BUZZ-LifeStance Health slides on secondary offering
JPMorgan Chase & Co. JPM | 0.00 | |
LifeStance Health LFST | 0.00 | |
TPG Inc Class A TPG | 0.00 |
** Mental healthcare provider LifeStance Health LFST.O shares down 8.6% after hours at $11.34 after secondary offering news
** Scottsdale, Arizona-based LFST announces certain stockholders to offload 35 mln shares
** In addition, LFST to repurchase 6 mln offering shares from the underwriter, JP Morgan
** LFST has ~387.8 mln shares outstanding
** In Feb, private equity firms TPG Capital TPG.O and Summit Partners cut their stakes in secondary offering of 25 mln shares
** LFST shares surged 20.2% to close at $8.85 on Thurs after co reported Q1 rev grew 21% yr/yr to $403.5 mln, topping LSEG consensus, driven by higher visit volumes and net clinician growth. It also hiked 2026 rev guidance to $1.64-$1.68 bln
** At close, stock up 26% YTD
** 9 of 11 analysts rate the stock "strong buy" or "buy", 2 "hold"; median PT $10.50
