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Christopher L. Schremser, the Chief Technology Officer of Waystar Holding Corp. (NASDAQ:WAY), recently executed significant stock transactions, according to a recent SEC filing. On April 10, Schremser sold shares totaling approximately $313,546. The sales were conducted at prices ranging from $36.18 to $36.80 per share, near the current trading price of $36.58. The company, with a market capitalization of $6.4 billion, has seen its stock surge 80% over the past year.
In addition to these sales, Schremser also exercised stock options, acquiring 8,623 shares at a price of $4.14 per share, amounting to a total of $35,699. Following these transactions, Schremser’s direct ownership stands at 438,044 shares. According to InvestingPro analysis, Waystar maintains strong liquidity with a current ratio of 2.55, while analysts have set price targets ranging from $45 to $55.
These transactions were carried out under a pre-established plan adopted on December 6, 2024, which is designed to comply with the conditions of Rule 10b5-1(c). InvestingPro data shows the company maintains a GREAT financial health score, with additional insights available in the comprehensive Pro Research Report, which covers over 1,400 US stocks.
In other recent news, Waystar Holding has reported several significant developments. Goldman Sachs raised its price target for Waystar shares to $52, citing the company’s fourth-quarter 2024 performance, which exceeded revenue and profitability estimates by over $10 million and $5 million, respectively. This marked the third consecutive quarter of outperformance since Waystar’s IPO, driven by growth in subscription and volume-based revenues. Canaccord Genuity also increased its price target for Waystar to $50, maintaining a Buy rating, and highlighted the company’s net revenue retention rate of 110% as a key indicator of its successful strategy.
Waystar recently launched the Auth Accelerate solution, which aims to transform the prior authorization process for healthcare services by reducing processing time by 70% and increasing auto-approval rates. Prisma Health has already adopted this system, noting its positive impact on administrative challenges and patient care. Additionally, Waystar 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, LP, though the proceeds will go to the selling stockholders rather than the company.
Truist Securities initiated coverage on Waystar with a Buy rating and a $45 price target, expressing confidence in the company’s ability to continue outpacing the provider software solutions market. The firm’s analysts emphasized Waystar’s strategic positioning and potential to surpass financial targets. These developments underscore Waystar’s ongoing efforts to innovate and expand its suite of healthcare payment solutions, positioning the company favorably in the market.
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