Leerink Partners Initiates Coverage on Waystar (NASDAQ:WAY)

Equities researchers at Leerink Partners initiated coverage on shares of Waystar (NASDAQ:WAY) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set an “outperform” rating and a $43.00 price target on the stock. Leerink Partners’ price target would suggest a potential upside of 75.51% from the company’s previous close.

A number of other research firms also recently issued reports on WAY. BMO Capital Markets assumed coverage on shares of Waystar in a research report on Thursday, November 13th. They set an “outperform” rating and a $47.00 target price for the company. Barclays decreased their price objective on Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, December 8th. Wells Fargo & Company initiated coverage on Waystar in a report on Thursday, January 8th. They set an “overweight” rating and a $41.00 target price on the stock. Citigroup reduced their price target on Waystar from $49.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Finally, Needham & Company LLC assumed coverage on Waystar in a research report on Tuesday, November 11th. They issued a “buy” rating and a $46.00 price objective on the stock. Two investment 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. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $46.40.

Waystar Stock Performance

WAY opened at $24.50 on Monday. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38. Waystar has a 12-month low of $24.36 and a 12-month high of $48.11. The firm has a 50 day moving average of $31.88 and a two-hundred day moving average of $35.11. The firm has a market capitalization of $4.69 billion, a PE ratio of 39.52, a P/E/G ratio of 0.33 and a beta of 0.75.

Insider Activity

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were 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 approximately $7,150,657. The trade was a 1.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the 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 directly owned 474,826 shares in the company, valued at approximately $14,282,766.08. The trade was a 7.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 80,273 shares of company stock worth $2,569,997 over the last three months. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC purchased a new position in Waystar in the 3rd quarter valued at about $25,000. ANTIPODES PARTNERS Ltd lifted its position in shares of Waystar by 120.1% in the third quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock valued at $31,000 after acquiring an additional 449 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Waystar in the third quarter worth approximately $38,000. Nisa Investment Advisors LLC increased its position in shares of Waystar by 50.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after purchasing an additional 358 shares in the last quarter. Finally, Danske Bank A S acquired a new position in Waystar in the 4th quarter valued at $52,000.

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.