Waystar (WAY)
Automates healthcare reimbursement, patient payments, denial recovery, and clinical revenue workflows.
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Provides cloud software for financial clearance, patient collections, claims, denials, clinical integrity, revenue capture, and analytics across U.S. healthcare providers. Revenue comes primarily from recurring subscription and volume-based fees, while the unified platform depends on integrations with provider, payer, and payment networks.
Provides cloud software that manages healthcare payments for U.S. hospitals, health systems, physician practices, clinics, laboratories, and other care providers. The platform spans financial clearance and prior authorization, patient financial care, claims and payer payment management, denial prevention and recovery, clinical integrity and revenue capture, and analytics and reporting. AltitudeAI applies automation across these workflows, including claim checking, appeal preparation, documentation review, and missing-charge detection.
Earns primarily recurring subscription and volume-based fees, with transaction activity rising as clients serve more patients or add solutions and care sites. A unified, multi-tenant platform connects with EHR, practice-management, and payer systems and processes regulated clinical, claims, and payment data. Execution depends on reliable integrations, secure data handling, card-network and ACH rules, payer requirements, and changing healthcare and privacy regulation.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 16, 2026 | Morgan Stanley | Reiterate | Rating: —Target: — | Target: $28 |
| Sep 15, 2026 | Barclays | Downgrade | Target: $27 | Target: $30 |
| Aug 31, 2026 | Canaccord Genuity | Reiterate | Rating: —Target: $30 | Target: $33 |
| Aug 13, 2026 | Truist Financial | Target | Target: $38 | Target: $33 |
| Aug 13, 2026 | Wolfe Research | Upgrade | Rating: — |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $191.6M · Total debt $1.48B · Total assets $5.87B · Shareholders' equity $3.99B
- Revenue
- $319.7M
- Operating income
- $76.0M
- Net income
- $40.9M
No dividends on record.
| Institutions | 111.06% | 212.96M shares | |
|---|---|---|---|
| 319 holders · as of Jun 30, 2026 | |||
| Insiders | 2.20% | 4.21M shares | |
| 17 holders · as of Sep 8, 2026 | |||
| Strategic holders | 12.48% | 23.94M shares | |
| 1 holder · as of Dec 16, 2024 | |||
| Adds to | 125.74% | ||
191.75M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 125.74%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Eqt Fund Management S.A R.L.Institution | 12.98% | 24.88M | as of Jun 30, 2026 |
BCPE Derby (DE) SPV, LPStrategic10 percent owner | 12.48% | 23.94M | filed Dec 16, 2024 |
Canada Pension Plan Investment BoardInstitution | 9.92% | 19.03M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 9.09% | 17.44M | as of Jun 30, 2026 |
FMR LLCInstitution | 7.85% | 15.05M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 2, 2026 | Matthew J. Hawkins | director, officer: Chief Executive Officer | −82,500 | $25.97 |
| Aug 13, 2026 | Matthew J. Hawkins | director, officer: Chief Executive Officer | −60,038 | $25.01 |
| Aug 11, 2026 | Matthew J. Hawkins | director, officer: Chief Executive Officer | −22,462 | $25.04 |
| Jul 15, 2026 | Matthew J. Hawkins | director, officer: Chief Executive Officer | −33,099 | $23.02 |
| Jul 16, 2026 | Matthew J. Hawkins | director, officer: Chief Executive Officer | −36,901 | $23.09 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Waystar | $25.57 | −0.54% | $4.93B | 36.7 | 14.7 | 4.1 | +18.1% |
| UnitedHealth Group | $373.93 | −0.96% | $342.88B | 24.3 | 17.5 | 0.8 | +0.4% |
| Oracle | $149.85 | +0.87% | $427.95B | 23.3 | 17.6 | 6.0 | +29.6% |
| Flywire | $17.38 | +1.47% | $2.08B | 66.4 | 23.1 | 2.9 | +24.2% |
| HealthEquity | $92.64 | −1.99% | $7.90B | 34.1 | 18.3 | 5.8 | +7.6% |
| Median | 29.2 | 18.0 | 4.4 | +15.9% |