Waystar (NASDAQ:WAY) Hits New 12-Month Low – Here’s What Happened

Waystar Holding Corp. (NASDAQ:WAY) hit a new 52-week low on Tuesday . The stock traded as low as $28.60 and last traded at $28.8050, with a volume of 300992 shares trading hands. The stock had previously closed at $29.57.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WAY shares. BMO Capital Markets assumed coverage on Waystar in a report on Thursday, November 13th. They set an “outperform” rating and a $47.00 price objective on the stock. The Goldman Sachs Group set a $44.00 price objective on shares of Waystar in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Waystar in a research note on Wednesday, January 21st. Needham & Company LLC began coverage on shares of Waystar in a report on Tuesday, November 11th. They issued a “buy” rating and a $46.00 price target for the company. Finally, Wall Street Zen cut shares of Waystar from a “buy” rating to a “hold” rating in a report on Saturday, November 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $46.64.

Waystar Trading Down 3.3%

The stock’s 50 day simple moving average is $32.67 and its 200 day simple moving average is $35.45. The firm has a market cap of $5.11 billion, a PE ratio of 23.41, a PEG ratio of 0.34 and a beta of 0.76. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89.

Insider Transactions at Waystar

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider owned 474,826 shares of the company’s stock, valued at $14,282,766.08. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $37.00, for a total transaction of $125,800.00. Following the transaction, the chief marketing officer directly owned 193,261 shares in the company, valued at $7,150,657. This trade represents a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 80,273 shares of company stock worth $2,569,997. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Waystar

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Waystar by 35.5% during the third 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. boosted its stake in shares of Waystar by 3,883.4% during 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 shares of Waystar during the third quarter valued at about $95,497,000. Alyeska Investment Group L.P. increased its position in shares of 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 buying an additional 1,776,979 shares during the period. 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 worth $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.