Brainsway (NASDAQ:BWAY) Cut to Hold at Wall Street Zen

Brainsway (NASDAQ:BWAY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other equities research analysts also recently weighed in on the company. HC Wainwright increased their price target on Brainsway from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brainsway in a report on Monday, December 29th. Finally, Northland Securities set a $30.00 price target on Brainsway in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Brainsway Price Performance

BWAY traded down $1.15 during trading on Friday, reaching $23.04. 140,281 shares of the company’s stock were exchanged, compared to its average volume of 106,271. The company’s fifty day simple moving average is $18.88 and its 200-day simple moving average is $16.09. The stock has a market capitalization of $451.12 million, a P/E ratio of 76.80 and a beta of 1.19. Brainsway has a 1 year low of $7.84 and a 1 year high of $24.84.

Brainsway (NASDAQ:BWAY) last released its quarterly earnings data on Tuesday, November 11th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). Brainsway had a return on equity of 9.46% and a net margin of 12.73%.The business had revenue of $13.51 million during the quarter, compared to analyst estimates of $13.04 million. Equities analysts forecast that Brainsway will post 0.08 EPS for the current year.

Institutional Trading of Brainsway

A number of institutional investors and hedge funds have recently made changes to their positions in BWAY. NewEdge Advisors LLC raised its stake in shares of Brainsway by 7.4% during the 3rd quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock worth $431,000 after buying an additional 1,964 shares during the period. Zuckerman Investment Group LLC increased its holdings in Brainsway by 5.3% in the 3rd quarter. Zuckerman Investment Group LLC now owns 40,000 shares of the company’s stock worth $603,000 after acquiring an additional 2,000 shares in the last quarter. Huntleigh Advisors Inc. raised its position in Brainsway by 5.7% during the second quarter. Huntleigh Advisors Inc. now owns 77,416 shares of the company’s stock worth $1,018,000 after acquiring an additional 4,143 shares during the period. Palumbo Wealth Management LLC lifted its holdings in Brainsway by 37.9% during the fourth quarter. Palumbo Wealth Management LLC now owns 16,320 shares of the company’s stock valued at $310,000 after purchasing an additional 4,483 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Brainsway during the second quarter valued at $85,000. 30.11% of the stock is currently owned by hedge funds and other institutional investors.

About Brainsway

Brainsway Ltd is a medical device company specializing in non-invasive neuromodulation therapies. Publicly traded on the NASDAQ under the symbol BWAY, the company develops and commercializes deep transcranial magnetic stimulation (Deep TMS) systems designed to treat a range of neuropsychiatric and neurological disorders. Brainsway’s technology aims to offer an alternative or complement to traditional pharmacological therapies by targeting precise brain regions with its patented coil designs.

The company’s flagship Deep TMS platform utilizes proprietary H-coil arrays engineered to reach deeper cortical structures than conventional TMS devices.