Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
Matthew J. Hawkins (NASDAQ:HWKN), the Chief Executive Officer of Waystar Holding Corp. (NASDAQ:WAY), a company valued at $6.4 billion that has seen its stock surge 80% over the past year according to InvestingPro, recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On April 10, Hawkins sold a total of 46,667 shares of Waystar common stock, yielding approximately $1.7 million. The shares were sold at prices ranging from $36.0876 to $36.7153 per share, with analysts setting price targets between $45 and $55, as reported by InvestingPro.
In addition to these sales, Hawkins also acquired 46,667 shares through the exercise of stock options at a price of $4.14 per share, with the total value of these transactions amounting to $193,201. Following these transactions, Hawkins now holds 500,000 shares of Waystar common stock. The transactions were carried out under a pre-established trading plan adopted in November 2024, with the company scheduled to report its next earnings on April 30, 2025. For comprehensive analysis and additional insights, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Waystar Holding has reported several significant developments. Analysts at Goldman Sachs increased their price target for Waystar to $52, maintaining a Buy rating, following the company’s fourth-quarter 2024 performance, which surpassed both Goldman Sachs and consensus estimates for revenue and profitability. Canaccord Genuity also raised its price target for Waystar to $50, citing the company’s robust growth and successful client retention strategies. Meanwhile, Truist Securities initiated coverage of Waystar with a Buy rating and a $45 price target, highlighting the company’s strategic positioning in the healthcare payments industry.
Waystar also introduced its Auth Accelerate solution, which automates the prior authorization process, reducing processing time by 70% and increasing auto-approval rates significantly. The solution aims to address the bottleneck in healthcare authorizations, allowing providers to focus more on patient care. Additionally, Waystar has announced a public offering of 18 million shares by investment funds affiliated with EQT AB (ST:EQTAB), Canada Pension Plan Investment Board, and Bain Capital, with the proceeds going to the selling stockholders.
These recent developments indicate Waystar’s ongoing commitment to innovation and efficiency in healthcare payment solutions. The company’s strategic moves and product enhancements have positioned it favorably in the market, with analysts expressing confidence in its future performance. As Waystar continues to expand its suite of solutions, it remains a key player in the healthcare payments sector, serving approximately 30,000 clients and processing over 6 billion transactions annually.
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