Waystar (NASDAQ:WAY) Sets New 52-Week Low – Here’s What Happened

Shares of Waystar Holding Corp. (NASDAQ:WAY) hit a new 52-week low on Wednesday . The stock traded as low as $29.14 and last traded at $29.3660, with a volume of 307193 shares traded. The stock had previously closed at $29.74.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WAY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waystar in a research report on Wednesday, October 8th. Zacks Research lowered Waystar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Barclays cut their price objective on Waystar from $56.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, December 8th. BMO Capital Markets began coverage on Waystar in a report on Thursday, November 13th. They set an “outperform” rating and a $47.00 target price for the company. Finally, Needham & Company LLC started coverage on shares of Waystar in a research note on Tuesday, November 11th. They set a “buy” rating and a $46.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $46.64.

Waystar Stock Performance

The stock has a 50-day moving average price of $33.42 and a 200 day moving average price of $35.81. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 46.50, a P/E/G ratio of 0.38 and a beta of 0.76. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.38.

Insider Activity

In related news, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $32.82, for a total transaction of $318,386.82. Following the completion of the transaction, the insider owned 474,826 shares in the company, valued at approximately $15,583,789.32. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 completion of 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 position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 40,048 shares of company stock worth $1,360,029. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Waystar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in Waystar by 11.3% during the first quarter. Royal Bank of Canada now owns 21,609 shares of the company’s stock worth $808,000 after purchasing an additional 2,195 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Waystar during the 1st quarter worth $203,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Waystar by 91.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,911 shares of the company’s stock valued at $1,753,000 after acquiring an additional 22,364 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Waystar in the first quarter valued at $234,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Waystar by 13.4% during the first quarter. Goldman Sachs Group Inc. now owns 747,268 shares of the company’s stock worth $27,918,000 after purchasing an additional 88,256 shares during 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.