The Manufacturers Life Insurance Company Purchases Shares of 65,678 Waystar Holding Corp. $WAY

The Manufacturers Life Insurance Company acquired a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 65,678 shares of the company’s stock, valued at approximately $1,348,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Root Financial Partners LLC lifted its holdings in shares of Waystar by 6,475.0% in the first quarter. Root Financial Partners LLC now owns 1,052 shares of the company’s stock valued at $25,000 after purchasing an additional 1,036 shares in the last quarter. Essential Partners LLC grew its holdings 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 buying an additional 1,447 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Waystar by 6,005.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company’s stock worth $38,000 after buying an additional 1,141 shares in the last quarter. Danske Bank A S purchased a new stake in Waystar in the 4th quarter valued at $52,000. Finally, EverSource Wealth Advisors LLC raised its position in Waystar by 3,219.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $57,000 after buying an additional 1,352 shares during the last quarter.

Waystar Trading Down 3.9%

Shares of Waystar stock opened at $25.07 on Friday. Waystar Holding Corp. has a 1 year low of $17.26 and a 1 year high of $41.47. The firm has a market cap of $4.81 billion, a PE ratio of 35.81, a P/E/G ratio of 1.02 and a beta of 0.16. The stock has a fifty day moving average price of $23.57 and a 200-day moving average price of $22.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85.

Waystar (NASDAQ:WAY) last released its earnings results on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $319.67 million for the quarter, compared to analysts’ expectations of $316.21 million. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. Equities research analysts anticipate that Waystar Holding Corp. will post 1.47 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. KeyCorp reaffirmed an “overweight” rating on shares of Waystar in a report on Friday, July 31st. UBS Group lowered their target price on shares of Waystar from $37.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Wells Fargo & Company dropped their price target on shares of Waystar from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. BMO Capital Markets restated an “outperform” rating on shares of Waystar in a report on Thursday, August 27th. Finally, Barclays upped their price objective on shares of Waystar from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Waystar currently has an average rating of “Moderate Buy” and an average target price of $35.14.

Insider Buying and Selling

In other Waystar news, CEO Matthew Hawkins sold 82,500 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $25.97, for a total value of $2,142,525.00. Following the transaction, the chief executive officer directly owned 1,804,794 shares in the company, valued at $46,870,500.18. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 165,000 shares of company stock valued at $4,206,524 over the last 90 days. Insiders own 3.50% of the company’s stock.

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.