Parkman Healthcare Partners LLC Buys Shares of 203,986 Waystar Holding Corp. $WAY

Key Points

• Parkman Healthcare Partners initiated a position in Waystar by purchasing 203,986 shares valued at approximately $4.19 million, representing about 0.11% of the company.
• Waystar reported quarterly EPS of $0.43, exceeding the $0.40 consensus estimate, while revenue rose 18.1% year over year to $319.67 million.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $35, although several firms recently reduced their targets to approximately $33.

Parkman Healthcare Partners LLC bought a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 203,986 shares of the company's stock, valued at approximately $4,188,000. Parkman Healthcare Partners LLC owned approximately 0.11% of Waystar at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WAY. Kennedy Capital Management LLC grew its holdings in shares of Waystar by 0.5% during the 4th quarter. Kennedy Capital Management LLC now owns 106,207 shares of the company's stock valued at $3,478,000 after purchasing an additional 559 shares during the last quarter. Pacer Advisors Inc. increased its position in Waystar by 22.1% during the 4th quarter. Pacer Advisors Inc. now owns 3,144 shares of the company's stock worth $103,000 after purchasing an additional 569 shares in the last quarter. State of Wyoming lifted its stake in Waystar by 45.1% in the 2nd quarter. State of Wyoming now owns 2,098 shares of the company's stock valued at $86,000 after purchasing an additional 652 shares during the last quarter. ProShare Advisors LLC lifted its stake in Waystar by 3.7% in the 4th quarter. ProShare Advisors LLC now owns 21,474 shares of the company's stock valued at $703,000 after purchasing an additional 764 shares during the last quarter. Finally, Vinva Investment Management Ltd boosted its position in Waystar by 9.3% in the fourth quarter. Vinva Investment Management Ltd now owns 9,202 shares of the company's stock valued at $301,000 after buying an additional 786 shares in the last quarter.

Insider Transactions at Waystar

In other Waystar news, CEO Matthew J. Hawkins sold 60,038 shares of Waystar stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $25.01, for a total transaction of $1,501,550.38. Following the transaction, the chief executive officer directly owned 1,835,081 shares of the company's stock, valued at approximately $45,895,375.81. The trade was a 3.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.50% of the stock is currently owned by corporate insiders.

Waystar Trading Up 1.4%

Shares of NASDAQ WAY opened at $25.35 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85. Waystar Holding Corp. has a 52-week low of $17.26 and a 52-week high of $41.47. The firm has a 50 day moving average price of $22.34 and a two-hundred day moving average price of $22.65. The stock has a market cap of $4.86 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 0.97 and a beta of 0.06.

Waystar (NASDAQ:WAY - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $316.21 million. During the same quarter last year, the firm earned $0.36 earnings per share. The company's revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities analysts forecast that Waystar Holding Corp. will post 1.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WAY shares. Wells Fargo & Company decreased their target price on shares of Waystar from $36.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Raymond James Financial reiterated a "strong-buy" rating and issued a $32.00 price target on shares of Waystar in a research note on Thursday, April 30th. UBS Group cut their price objective on Waystar from $37.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $39.00 price objective on shares of Waystar in a research report on Friday, July 31st. Finally, Truist Financial lowered their target price on Waystar from $38.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Waystar currently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

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.

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