Waystar (NASDAQ:WAY) Trading Down 9.1% Following Analyst Downgrade

Waystar Holding Corp. (NASDAQ:WAY) shares were down 9.1% on Monday after Citigroup lowered their price target on the stock from $49.00 to $46.00. Citigroup currently has a buy rating on the stock. Waystar traded as low as $32.28 and last traded at $31.3680. Approximately 1,261,244 shares were traded during trading, a decline of 15% from the average daily volume of 1,478,437 shares. The stock had previously closed at $34.50.

A number of other analysts have also weighed in on WAY. UBS Group assumed coverage on shares of Waystar in a research note on Monday, December 15th. They set a “buy” rating and a $41.00 target price for the company. Needham & Company LLC began coverage on shares of Waystar in a research note on Tuesday, November 11th. They set a “buy” rating and a $46.00 price objective for the company. Canaccord Genuity Group set a $54.00 price target on Waystar in a research note on Thursday, October 30th. Wells Fargo & Company began coverage on Waystar in a research note on Thursday. They set an “overweight” rating and a $41.00 price objective on the stock. Finally, Citizens Jmp assumed coverage on shares of Waystar in a research report on Thursday, September 18th. They set a “mkt outperform” rating and a $48.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Waystar presently has a consensus rating of “Buy” and a consensus price target of $47.21.

Insider Buying and Selling at Waystar

In other news, insider Eric L. (Ric) Sinclair III sold 9,701 shares of Waystar stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $32.82, for a total transaction of $318,386.82. Following the sale, the insider owned 474,826 shares of the company’s stock, valued at approximately $15,583,789.32. The trade was a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the 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 sale, 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 49,749 shares of company stock valued at $1,718,384. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake in shares of Waystar in the 3rd quarter worth approximately $25,000. ANTIPODES PARTNERS Ltd grew its position in Waystar by 120.1% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock worth $31,000 after purchasing an additional 449 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Waystar in the second quarter worth approximately $33,000. First Horizon Corp purchased a new position in Waystar during the 3rd quarter valued at about $38,000. Finally, Nisa Investment Advisors LLC increased its holdings in Waystar by 50.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after buying an additional 358 shares during the last quarter.

Waystar Stock Performance

The stock has a fifty day moving average price of $34.28 and a 200 day moving average price of $36.26. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 50.92, a price-to-earnings-growth ratio of 0.43 and a beta of 0.76.

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.