Deerfield Management Company L.P. Series C Purchases Shares of 4,952,004 Waystar Holding Corp. (NASDAQ:WAY)

Deerfield Management Company L.P. Series C purchased a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,952,004 shares of the company's stock, valued at approximately $106,468,000. Waystar accounts for approximately 1.8% of Deerfield Management Company L.P. Series C's investment portfolio, making the stock its 16th largest position. Deerfield Management Company L.P. Series C owned 2.97% of Waystar as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Waystar during the 2nd quarter worth about $145,000. Federated Hermes Inc. bought a new position in Waystar in the 2nd quarter valued at about $430,000. Sandia Investment Management LP acquired a new stake in Waystar during the second quarter worth approximately $860,000. Sei Investments Co. bought a new stake in shares of Waystar during the second quarter worth approximately $1,435,000. Finally, TD Asset Management Inc acquired a new position in shares of Waystar in the second quarter valued at approximately $1,633,000.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WAY. JPMorgan Chase & Co. lifted their price target on Waystar from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, August 19th. Evercore ISI boosted their target price on shares of Waystar from $25.00 to $27.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th. Raymond James started coverage on shares of Waystar in a research report on Tuesday, July 2nd. They set an "outperform" rating and a $30.00 price target on the stock. Barclays assumed coverage on shares of Waystar in a report on Tuesday, July 2nd. They issued an "overweight" rating and a $24.00 price objective for the company. Finally, William Blair started coverage on shares of Waystar in a research report on Tuesday, July 2nd. They set an "outperform" rating on the stock. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Waystar presently has an average rating of "Buy" and a consensus price target of $28.90.

Waystar Trading Up 2.3 %

Shares of NASDAQ:WAY traded up $0.64 during midday trading on Thursday, hitting $27.93. The stock had a trading volume of 788,700 shares, compared to its average volume of 914,911. The stock has a 50-day moving average price of $25.29. Waystar Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $28.57.

Waystar (NASDAQ:WAY - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $234.50 million for the quarter, compared to the consensus estimate of $216.25 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. On average, research analysts predict that Waystar Holding Corp. will post -0.08 EPS for the current fiscal year.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.