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Christopher L. Schremser, Chief Technology Officer of Waystar Holding Corp. (NASDAQ:WAY), reported significant stock transactions in a recent SEC filing. On March 7, Schremser sold shares totaling approximately $322,031. The sales were executed at prices ranging from $35.68 to $40.55 per share. The timing is notable as the stock has declined 15% over the past week, though it maintains a strong 71% gain over the last year. According to InvestingPro data, five analysts have recently revised their earnings estimates upward for the upcoming period.
In addition to these sales, Schremser also exercised stock options to acquire 8,623 shares at a price of $4.14 per share, amounting to a total value of $35,699. Following these transactions, Schremser holds 173,913 shares directly.
These transactions were conducted under a pre-established trading plan adopted in December 2024, in compliance with Rule 10b5-1(c).
In other recent news, Waystar has announced the launch of its Auth Accelerate solution, designed to streamline healthcare authorizations by significantly reducing processing times and increasing auto-approval rates. This development aims to address the delays often associated with prior authorizations, enhancing efficiency for healthcare providers like Prisma Health, an early adopter. Additionally, Canaccord Genuity and Evercore ISI have both raised their price targets for Waystar to $50, maintaining their Buy and Outperform ratings, respectively. These upgrades reflect Waystar’s strong financial performance and strategic growth initiatives, including recent product developments and acquisitions. Goldman Sachs has also increased its price target to $52, acknowledging Waystar’s robust fourth-quarter 2024 results, which surpassed revenue and profitability estimates. The company’s net revenue retention rate of 110% and increased customer base have been highlighted as key indicators of its successful strategy. In a separate development, Waystar announced a public offering of 18 million shares by certain investment funds, with the proceeds going to the selling stockholders. This offering is led by major financial institutions, including J.P. Morgan and Goldman Sachs, although it will not financially benefit Waystar directly.
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