Peregrine Capital Management LLC Purchases 61,027 Shares of Waystar Holding Corp. $WAY

Peregrine Capital Management LLC raised its holdings in shares of Waystar Holding Corp. (NASDAQ:WAY) by 20.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 355,941 shares of the company’s stock after purchasing an additional 61,027 shares during the period. Peregrine Capital Management LLC owned 0.20% of Waystar worth $13,497,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Munro Partners raised its stake in Waystar by 107.5% during the third quarter. Munro Partners now owns 178,890 shares of the company’s stock worth $6,784,000 after purchasing an additional 92,695 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Waystar in the second quarter valued at approximately $2,670,000. Geode Capital Management LLC grew its position in Waystar by 14.9% in the second quarter. Geode Capital Management LLC now owns 2,376,932 shares of the company’s stock worth $97,155,000 after acquiring an additional 309,119 shares during the period. Teacher Retirement System of Texas increased its stake in Waystar by 10.3% during the second quarter. Teacher Retirement System of Texas now owns 44,159 shares of the company’s stock worth $1,805,000 after acquiring an additional 4,117 shares during the last quarter. Finally, Seven Grand Managers LLC raised its position in Waystar by 20.0% in the second quarter. Seven Grand Managers LLC now owns 600,000 shares of the company’s stock valued at $24,522,000 after purchasing an additional 100,000 shares during the period.

Waystar Stock Down 1.8%

Shares of NASDAQ WAY opened at $33.08 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.89 and a quick ratio of 3.89. Waystar Holding Corp. has a 1 year low of $29.40 and a 1 year high of $48.11. The business has a 50-day moving average of $34.31 and a two-hundred day moving average of $36.32. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 0.42 and a beta of 0.76.

Insiders Place Their Bets

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $36.12, for a total transaction of $311,462.76. Following the completion of the sale, the chief technology officer directly owned 422,371 shares of the company’s stock, valued at approximately $15,256,040.52. This trade represents a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 9,701 shares of Waystar stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $36.94, for a total value of $358,354.94. Following the completion of the transaction, the insider owned 474,826 shares in the company, valued at $17,540,072.44. This trade represents a 2.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 49,749 shares of company stock valued at $1,718,384. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

WAY has been the subject of a number of recent analyst reports. Wells Fargo & Company set a $41.00 price objective on Waystar and gave the stock an “overweight” rating in a research report on Thursday. Canaccord Genuity Group set a $54.00 price target on shares of Waystar in a research report on Thursday, October 30th. Needham & Company LLC assumed coverage on shares of Waystar in a report on Tuesday, November 11th. They issued a “buy” rating and a $46.00 price objective on the stock. UBS Group started coverage on shares of Waystar in a report on Monday, December 15th. They issued a “buy” rating and a $41.00 target price for the company. Finally, Barclays decreased their price target on Waystar from $56.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $47.43.

About Waystar

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.