Parkman Healthcare Partners LLC Invests $4.19 Million in Waystar Holding Corp. $WAY

Parkman Healthcare Partners LLC acquired a new stake in Waystar Holding Corp. (NASDAQ:WAY) during the second quarter, HoldingsChannel.com reports. The fund acquired 203,986 shares of the company’s stock, valued at approximately $4,188,000.

Several other large investors also recently modified their holdings of WAY. Clarkston Capital Partners LLC bought a new position in shares of Waystar in the 1st quarter worth about $22,917,000. Hsbc Holdings PLC bought a new stake in shares of Waystar during the 1st quarter valued at about $5,625,000. Renaissance Capital LLC bought a new stake in shares of Waystar during the 4th quarter valued at about $2,273,000. Aurora Investment Counsel acquired a new stake in Waystar during the second quarter worth approximately $1,765,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Waystar during the second quarter worth approximately $43,314,000.

Waystar Stock Up 1.4%

WAY stock opened at $25.35 on Tuesday. The stock’s 50 day simple moving average is $22.34 and its 200 day simple moving average is $22.65. The company 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. 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 fifty-two week low of $17.26 and a fifty-two week high of $41.47.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $319.67 million during 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 company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. On average, research analysts expect that Waystar Holding Corp. will post 1.47 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Matthew J. Hawkins sold 60,038 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $25.01, for a total value of $1,501,550.38. Following the transaction, the chief executive officer directly owned 1,835,081 shares in the company, valued at $45,895,375.81. This trade represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WAY shares. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price target on shares of Waystar in a research note on Thursday, July 30th. KeyCorp reaffirmed an “overweight” rating on shares of Waystar in a research report on Friday, July 31st. Wells Fargo & Company lowered their price objective on shares of Waystar from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Raymond James Financial reiterated a “strong-buy” rating and set a $32.00 target price on shares of Waystar in a research report on Thursday, April 30th. Finally, Citigroup reissued a “buy” rating on shares of Waystar in a research note on Monday, July 20th. Three equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

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.