PointState Capital LP Makes New $21.16 Million Investment in Waystar Holding Corp. $WAY

Key Points

• PointState Capital acquired 1.03 million Waystar shares worth approximately $21.16 million, giving it a 0.54% stake. Several other major institutional investors also established or increased positions during the second quarter.
• Waystar reported quarterly EPS of $0.43, beating estimates of $0.40, while revenue rose 18.1% year over year to $319.67 million. Shares opened at $24.17, with a market capitalization of approximately $4.63 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $35 average price target versus the referenced share price. Recent targets were mostly reduced, while CEO Matthew Hawkins sold $1.50 million of stock under a pre-arranged trading plan.

PointState Capital LP acquired a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,030,502 shares of the company's stock, valued at approximately $21,156,000. PointState Capital LP owned 0.54% of Waystar at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of WAY. Canada Pension Plan Investment Board acquired a new position in Waystar during the 2nd quarter worth $390,593,000. BlackRock Inc. acquired a new stake in Waystar in the 2nd quarter valued at about $357,950,000. Advent International L.P. acquired a new stake in Waystar in the 2nd quarter valued at about $227,060,000. Alliancebernstein L.P. boosted its stake in shares of Waystar by 3,883.4% in the 2nd quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company's stock valued at $133,601,000 after buying an additional 3,186,869 shares during the period. Finally, Jupiter Topco LLC purchased a new position in shares of Waystar in the 2nd quarter valued at about $58,960,000.

Waystar Price Performance

Shares of NASDAQ WAY opened at $24.17 on Thursday. The stock's 50-day simple moving average is $22.58 and its 200-day simple moving average is $22.66. The firm has a market capitalization of $4.63 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 0.94 and a beta of 0.06. Waystar Holding Corp. has a fifty-two week low of $17.26 and a fifty-two week high of $41.47. 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 (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The firm had revenue of $319.67 million during the quarter, compared to the consensus estimate of $316.21 million. During the same period in the prior year, the company posted $0.36 earnings per share. The firm's quarterly revenue was up 18.1% compared to the same quarter last year. As a group, equities research analysts forecast that Waystar Holding Corp. will post 1.47 EPS for the current fiscal year.

Insider Activity

In other news, CEO Matthew J. Hawkins sold 60,038 shares of the company's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $25.01, for a total value of $1,501,550.38. Following the completion of the transaction, the chief executive officer owned 1,835,081 shares in the company, valued at approximately $45,895,375.81. This represents a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WAY shares. Citigroup restated a "buy" rating on shares of Waystar in a research note on Monday, July 20th. UBS Group decreased their price target on shares of Waystar from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Truist Financial lowered their price target on shares of Waystar from $38.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Barclays increased their price objective on shares of Waystar from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company reduced their price objective on shares of Waystar from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Waystar currently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

Key Stories Impacting Waystar

Here are the key news stories impacting Waystar this week:

• Positive Sentiment: Waystar launched new AltitudeAI agentic capabilities designed to autonomously execute revenue-cycle tasks, including claims processing, denial management, documentation, and patient billing. The company says the tools connect AI-generated insights directly to action, potentially improving provider efficiency and strengthening long-term revenue growth. Waystar Launches New Agentic Solutions Transforming AI Into Action Across the Revenue Cycle
• Positive Sentiment: Coverage of the product rollout highlights Waystar’s expansion of AI-powered tools across claims, denials, and revenue-cycle documentation. Successful adoption could increase customer value, support pricing power, and differentiate Waystar in healthcare payment software. Waystar expands AI-powered agentic revenue cycle tools
• Positive Sentiment: Needham reaffirmed its Buy rating and set a $33 price target, implying substantial upside from the referenced stock level. The endorsement may reinforce investor confidence in Waystar’s growth and AI strategy. Needham rating report
• Positive Sentiment: Waystar announced two executive leadership appointments intended to accelerate innovation, client adoption, and durable growth, adding support to management’s autonomous-revenue-cycle strategy. Waystar Expands Executive Leadership to Accelerate Innovation and Growth
• Neutral Sentiment: Waystar’s analyst/investor-day transcript and presentation provide additional detail on its strategy, but the supplied reports do not identify specific new financial guidance or targets. Waystar Analyst/Investor Day Transcript
• Neutral Sentiment: Reported short-interest data showed zero shares and a zero-day ratio, but the figures include an invalid percentage-change calculation and appear unreliable, offering little usable signal for investors.

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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