First Trust Advisors LP Lowers Stake in Waystar Holding Corp. $WAY

Key Points

• First Trust Advisors LP cut its Waystar stake by 68% in the first quarter, selling 48,437 shares and retaining 22,803 shares valued at approximately $550,000.
• Waystar reported quarterly revenue of $319.67 million, up 18.1% year over year, and adjusted earnings of $0.43 per share, exceeding analysts’ estimates.
• Despite shares opening at $24.30 and recently declining 1.6%, analysts maintain a Moderate Buy consensus with an average price target of $35.23.

First Trust Advisors LP reduced its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 68.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,803 shares of the company's stock after selling 48,437 shares during the quarter. First Trust Advisors LP's holdings in Waystar were worth $550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WAY. Root Financial Partners LLC raised its position in shares of Waystar by 6,475.0% during the 1st 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 during the period. Smartleaf Asset Management LLC boosted its holdings in Waystar by 6,005.3% in the 4th 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 during the period. Danske Bank A S purchased a new stake in Waystar in the 4th quarter worth $52,000. EverSource Wealth Advisors LLC raised its holdings in Waystar by 3,219.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock valued at $57,000 after acquiring an additional 1,352 shares during the period. Finally, OP Asset Management Ltd bought a new stake in Waystar during the first quarter valued at about $58,000.

Waystar Stock Down 1.6%

Shares of WAY opened at $24.30 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 0.96 and a beta of 0.06. Waystar Holding Corp. has a 1 year low of $17.26 and a 1 year high of $41.47. The business's 50 day simple moving average is $21.32 and its 200-day simple moving average is $22.83.

Waystar (NASDAQ:WAY - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The firm had revenue of $319.67 million during the quarter, compared to analyst estimates of $316.21 million. During the same period last year, the firm posted $0.36 earnings per share. Waystar's revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, equities analysts expect that Waystar Holding Corp. will post 1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Needham & Company LLC restated a "buy" rating and issued a $33.00 price objective on shares of Waystar in a research report on Thursday, July 30th. KeyCorp reissued an "overweight" rating on shares of Waystar in a research note on Friday, July 31st. JPMorgan Chase & Co. lowered their price target on Waystar from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Weiss Ratings downgraded Waystar from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, June 24th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $32.00 price objective on shares of Waystar in a report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Waystar has a consensus rating of "Moderate Buy" and an average target price of $35.23.

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.

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