Waystar (NASDAQ:WAY) Sets New 12-Month Low – Here’s Why

Waystar Holding Corp. (NASDAQ:WAY)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $29.14 and last traded at $29.3660, with a volume of 307193 shares trading hands. The stock had previously closed at $29.74.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WAY. Wells Fargo & Company initiated coverage on shares of Waystar in a research report on Thursday, January 8th. They set an “overweight” rating and a $41.00 price target on the stock. The Goldman Sachs Group set a $44.00 target price on Waystar in a research note on Wednesday, January 14th. Canaccord Genuity Group set a $54.00 target price on Waystar in a research report on Thursday, October 30th. BMO Capital Markets initiated coverage on Waystar in a research note on Thursday, November 13th. They issued an “outperform” rating and a $47.00 price target on the stock. Finally, UBS Group began coverage on Waystar in a research report on Monday, December 15th. They set a “buy” rating and a $41.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $46.64.

Waystar Stock Up 1.6%

The business has a 50 day simple moving average of $33.15 and a 200 day simple moving average of $35.72. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 48.35, a PEG ratio of 0.37 and a beta of 0.76. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.89 and a quick ratio of 3.89.

Insider Buying and Selling

In other news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $30.08, for a total value of $1,209,968.00. Following the completion of the transaction, the insider owned 474,826 shares of the company’s stock, valued at approximately $14,282,766.08. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $37.00, for a total transaction 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. This trade represents a 1.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 80,273 shares of company stock valued at $2,569,997. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Waystar

Several hedge funds and other institutional investors have recently made changes to their positions in WAY. Vanguard Group Inc. increased its position in shares of Waystar by 35.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,289,810 shares of the company’s stock valued at $466,030,000 after purchasing an additional 3,219,586 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Waystar by 3,883.4% in the 2nd quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock valued at $133,601,000 after purchasing an additional 3,186,869 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Waystar in the third quarter valued at $95,497,000. Alyeska Investment Group L.P. increased its holdings in Waystar by 4,717.4% in the third quarter. Alyeska Investment Group L.P. now owns 1,814,648 shares of the company’s stock valued at $68,811,000 after buying an additional 1,776,979 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Waystar by 152.6% in the third quarter. JPMorgan Chase & Co. now owns 2,489,572 shares of the company’s stock valued at $94,405,000 after buying an additional 1,504,026 shares in the last quarter.

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.