Waystar (NASDAQ:WAY) Now Covered by Leerink Partners

Leerink Partners initiated coverage on shares of Waystar (NASDAQ:WAY) in a report released on Monday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $43.00 target price on the stock.

Several other equities research analysts also recently commented on WAY. Zacks Research downgraded shares of Waystar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. The Goldman Sachs Group set a $44.00 price target on Waystar in a research report on Wednesday, January 14th. Mizuho boosted their price target on Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Wall Street Zen lowered Waystar from a “buy” rating to a “hold” rating in a report on Saturday, November 29th. Finally, UBS Group assumed coverage on Waystar in a report on Monday, December 15th. They set a “buy” rating and a $41.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $46.40.

Waystar Stock Down 0.9%

WAY stock opened at $26.33 on Monday. The stock has a market capitalization of $5.04 billion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 0.33 and a beta of 0.76. Waystar has a 52 week low of $26.20 and a 52 week high of $48.11. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $32.13 and a 200 day moving average of $35.20.

Insider Buying and Selling at Waystar

In other news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total value of $125,800.00. Following the completion of the transaction, the chief marketing officer owned 193,261 shares of the company’s stock, valued at $7,150,657. The trade was a 1.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $30.08, for a total value of $1,209,968.00. Following the sale, the insider directly owned 474,826 shares in the company, valued at approximately $14,282,766.08. This trade represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 80,273 shares of company stock worth $2,569,997. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Waystar

Several institutional investors have recently made changes to their positions in WAY. Salomon & Ludwin LLC purchased a new stake in Waystar during the third quarter worth $25,000. ANTIPODES PARTNERS Ltd raised its position in shares of Waystar by 120.1% in the third quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock worth $31,000 after acquiring an additional 449 shares during the period. First Horizon Corp acquired a new position in shares of Waystar in the third quarter worth about $38,000. Nisa Investment Advisors LLC boosted its stake in shares of Waystar by 50.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after acquiring an additional 358 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Waystar by 3,219.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $57,000 after acquiring an additional 1,352 shares during the period.

Waystar Company Profile

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.