Brainsway (NASDAQ:BWAY) Downgraded by Wall Street Zen to “Hold”

Brainsway (NASDAQ:BWAY) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities analysts have also issued research reports about the company. BTIG Research started coverage on Brainsway in a research note on Monday, July 20th. They set a “buy” rating and a $18.00 price objective on the stock. New Street Research reiterated a “buy” rating on shares of Brainsway in a report on Friday. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Brainsway in a research report on Friday, July 17th. Zacks Research raised shares of Brainsway from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Brainsway in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.67.

Brainsway Price Performance

BWAY opened at $15.97 on Friday. The company’s 50 day simple moving average is $15.02 and its two-hundred day simple moving average is $13.95. Brainsway has a 1-year low of $5.68 and a 1-year high of $17.35. The firm has a market capitalization of $640.86 million, a price-to-earnings ratio of 45.63 and a beta of 1.22.

Brainsway (NASDAQ:BWAY) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Brainsway had a return on equity of 12.28% and a net margin of 15.68%.The business had revenue of $15.53 million during the quarter, compared to analyst estimates of $14.63 million. On average, equities analysts anticipate that Brainsway will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brainsway

Several large investors have recently made changes to their positions in BWAY. Ballast Advisors LLC purchased a new position in shares of Brainsway during the 1st quarter worth approximately $55,000. Bank of America Corp DE purchased a new stake in Brainsway in the first quarter valued at approximately $206,000. Royal Bank of Canada lifted its stake in Brainsway by 84.2% during the first quarter. Royal Bank of Canada now owns 15,490 shares of the company’s stock worth $206,000 after purchasing an additional 7,080 shares in the last quarter. Masters Capital Management LLC grew its stake in shares of Brainsway by 65.0% in the first quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock valued at $21,928,000 after buying an additional 650,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Brainsway by 87.2% in the 1st quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock valued at $6,890,000 after buying an additional 241,560 shares during the period. 30.11% of the stock is currently owned by institutional investors and hedge funds.

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.