Waystar (NASDAQ:WAY) Earns Outperform Rating from Analysts at Leerink Partners

Leerink Partners initiated coverage on shares of Waystar (NASDAQ:WAY) in a research note issued to investors on Monday morning, Marketbeat reports. The firm issued an outperform rating and a $43.00 price objective on the stock.

Several other brokerages have also recently issued reports on WAY. Wells Fargo & Company assumed coverage on Waystar in a research report on Thursday, January 8th. They issued an “overweight” rating and a $41.00 target price on the stock. Zacks Research downgraded shares of Waystar from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Barclays cut their target price on shares of Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, December 8th. Canaccord Genuity Group set a $54.00 price target on shares of Waystar in a research note on Thursday, October 30th. Finally, Needham & Company LLC started coverage on shares of Waystar in a research report on Tuesday, November 11th. They set a “buy” rating and a $46.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Waystar presently has an average rating of “Buy” and a consensus price target of $45.87.

Waystar Stock Performance

WAY stock opened at $23.99 on Monday. 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 has a 1 year low of $23.23 and a 1 year high of $48.11. The company has a market cap of $4.59 billion, a P/E ratio of 38.69, a price-to-earnings-growth ratio of 0.30 and a beta of 0.75. The stock’s fifty day moving average price is $31.62 and its 200-day moving average price is $35.04.

Insider Activity

In related news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of Waystar stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $30.08, for a total transaction of $1,209,968.00. Following the transaction, the insider owned 474,826 shares in the company, valued at approximately $14,282,766.08. The trade was a 7.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction on 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 sale, 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 disclosure for this sale is available in the SEC filing. Insiders have sold 80,273 shares of company stock worth $2,569,997 in the last three months. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Waystar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Waystar by 35.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,289,810 shares of the company’s stock worth $466,030,000 after purchasing an additional 3,219,586 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Waystar by 3,883.4% in the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock worth $133,601,000 after buying an additional 3,186,869 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Waystar during the third quarter worth $95,497,000. Alyeska Investment Group L.P. grew its stake in Waystar by 4,717.4% during 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 acquiring an additional 1,776,979 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Waystar by 152.6% during the third quarter. JPMorgan Chase & Co. now owns 2,489,572 shares of the company’s stock valued at $94,405,000 after acquiring an additional 1,504,026 shares in the last quarter.

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.