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

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

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

Brainsway Price Performance

BWAY opened at $23.04 on Friday. Brainsway has a 12-month low of $7.84 and a 12-month high of $24.84. The stock has a market capitalization of $451.12 million, a PE ratio of 76.80 and a beta of 1.19. The firm’s fifty day moving average price is $18.88 and its 200 day moving average price is $16.11.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. NewEdge Advisors LLC lifted its holdings in Brainsway by 61.5% in the first quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock worth $188,000 after purchasing an additional 7,549 shares during the period. Huntleigh Advisors Inc. raised its position in shares of Brainsway by 5.7% during the 2nd quarter. Huntleigh Advisors Inc. now owns 77,416 shares of the company’s stock worth $1,018,000 after buying an additional 4,143 shares in the last quarter. ARK Investment Management LLC lifted its stake in shares of Brainsway by 6.1% in the 2nd quarter. ARK Investment Management LLC now owns 199,826 shares of the company’s stock worth $2,628,000 after acquiring an additional 11,498 shares during the period. Raymond James Financial Inc. bought a new position in shares of Brainsway in the second quarter valued at approximately $85,000. Finally, Eagle Global Advisors LLC increased its stake in shares of Brainsway by 19.3% during the third quarter. Eagle Global Advisors LLC now owns 74,326 shares of the company’s stock valued at $1,120,000 after acquiring an additional 12,000 shares during the period. 30.11% of the stock is 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.