Key Points
- Waystar CEO Matthew Hawkins sold 82,500 shares for $2.37 million at an average price of $28.75 under a pre-arranged Rule 10b5-1 plan. He retained 1,804,794 shares, worth about $51.9 million after the sale.
- Waystar’s latest quarter beat expectations: earnings were $0.44 per share versus $0.41 estimated, and revenue of $325.62 million rose 21.2% year over year.
- Analysts hold a consensus “Moderate Buy” rating with a $35.23 average price target; the stock opened at $29.30.
Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) CEO Matthew Hawkins sold 82,500 shares of the stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $28.75, for a total value of $2,371,875.00. Following the completion of the transaction, the chief executive officer owned 1,804,794 shares of the company's stock, valued at $51,887,827.50. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Waystar Stock Performance
NASDAQ:WAY opened at $29.30 on Wednesday. The stock has a market cap of $5.64 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 1.21 and a beta of 0.11. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.36. The stock's 50-day moving average is $26.66 and its 200-day moving average is $23.94. Waystar Holding Corp. has a 1-year low of $17.26 and a 1-year high of $37.51.
Waystar (NASDAQ:WAY - Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $325.62 million during the quarter, compared to the consensus estimate of $323.43 million. Waystar had a return on equity of 6.91% and a net margin of 10.70%. The firm's revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Equities research analysts anticipate that Waystar Holding Corp. will post 1.43 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in WAY. Salomon & Ludwin LLC lifted its stake in shares of Waystar by 310.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 1,010 shares of the company's stock valued at $26,000 after purchasing an additional 764 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Waystar during the 3rd quarter valued at about $36,000. Essential Partners LLC grew its stake in Waystar by 1,432.7% during the first quarter. Essential Partners LLC now owns 1,548 shares of the company's stock worth $37,000 after purchasing an additional 1,447 shares during the period. Silver Grove Financial Group Inc. grew its stake in Waystar by 48.4% during the third quarter. Silver Grove Financial Group Inc. now owns 1,589 shares of the company's stock worth $40,000 after purchasing an additional 518 shares during the period. Finally, GAMMA Investing LLC grew its stake in Waystar by 20.9% during the third quarter. GAMMA Investing LLC now owns 2,692 shares of the company's stock worth $68,000 after purchasing an additional 465 shares during the period.
Wall Street Analyst Weigh In
Several brokerages have issued reports on WAY. KeyCorp upped their price target on shares of Waystar from $30.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, October 16th. BMO Capital Markets reiterated an "outperform" rating on shares of Waystar in a report on Thursday, August 27th. TD Cowen reduced their price objective on shares of Waystar from $42.00 to $39.00 and set a "buy" rating on the stock in a research note on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $39.00 price objective on shares of Waystar in a report on Friday, July 31st. Finally, Citigroup restated a "buy" rating on shares of Waystar in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Waystar currently has an average rating of "Moderate Buy" and a consensus price target of $35.23.
Read Our Latest Analysis on Waystar
About Waystar
(
Get Free Report)
Waystar provides cloud-based healthcare payment and revenue cycle management software. Its platform helps healthcare organizations manage administrative and financial processes, including claims submission, payment processing, patient billing, and revenue collection. The company's products support providers in identifying and addressing claim denials, checking patient eligibility, estimating costs, collecting payments, and analyzing revenue cycle performance. Waystar serves a range of healthcare organizations, including hospitals, health systems, physician groups, and other medical providers, primarily in the United States.
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