Brainsway Stock Scheduled to Split on Tuesday, March 3rd (NASDAQ:BWAY)

Shares of Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) are going to split before the market opens on Tuesday, March 3rd. The 2-1 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Monday, March 2nd.

Brainsway Stock Performance

Shares of BWAY stock opened at $26.04 on Thursday. Brainsway has a fifty-two week low of $7.84 and a fifty-two week high of $26.63. The stock has a 50 day simple moving average of $21.46 and a two-hundred day simple moving average of $17.55. The company has a market cap of $510.64 million, a P/E ratio of 86.80 and a beta of 1.20.

Analysts Set New Price Targets

Several research firms have recently weighed in on BWAY. Northland Securities set a $30.00 price objective on shares of Brainsway in a research note on Thursday, January 22nd. HC Wainwright lifted their price target on shares of Brainsway from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Wall Street Zen lowered shares of Brainsway from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in shares of Brainsway during the second quarter valued at about $85,000. Bank of America Corp DE acquired a new stake in shares of Brainsway in the 3rd quarter worth about $107,000. Royal Bank of Canada lifted its position in Brainsway by 1,145.9% in the 4th quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock valued at $160,000 after acquiring an additional 7,735 shares in the last quarter. Centiva Capital LP acquired a new position in Brainsway during the 3rd quarter valued at about $181,000. Finally, NewEdge Advisors LLC increased its holdings in Brainsway by 61.5% during the 1st quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock worth $188,000 after purchasing an additional 7,549 shares in the last quarter. 30.11% of the stock is owned by 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.