Brainsway (NASDAQ:BWAY) Hits New 1-Year High on Earnings Beat

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s share price reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $13.75 and last traded at $13.29, with a volume of 102207 shares changing hands. The stock had previously closed at $12.71.

The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $14.55 million during the quarter, compared to analyst estimates of $14.02 million. Brainsway had a net margin of 12.73% and a return on equity of 9.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BWAY shares. HC Wainwright lifted their target price on Brainsway from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Northland Securities set a $15.00 price objective on shares of Brainsway in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Brainsway presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. ARK Investment Management LLC bought a new position in shares of Brainsway during the 4th quarter worth approximately $2,422,000. Y.D. More Investments Ltd boosted its stake in Brainsway by 559.8% in the fourth quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock valued at $2,187,000 after acquiring an additional 97,537 shares in the last quarter. UBS Group AG grew its holdings in Brainsway by 2,028.6% in the third quarter. UBS Group AG now owns 63,878 shares of the company’s stock worth $963,000 after purchasing an additional 60,877 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Brainsway by 25.2% during the third quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock worth $1,551,000 after purchasing an additional 20,706 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Brainsway by 69.6% during the 3rd quarter. Millennium Management LLC now owns 39,841 shares of the company’s stock valued at $600,000 after purchasing an additional 16,354 shares during the last quarter. Hedge funds and other institutional investors own 30.11% of the company’s stock.

Brainsway Stock Performance

The stock has a market cap of $524.18 million, a PE ratio of 89.10 and a beta of 1.20. The firm has a fifty day moving average price of $11.87 and a 200 day moving average price of $9.42.

Brainsway Company Profile

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.