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

Wall Street Zen cut shares of Brainsway (NASDAQ:BWAY) from a buy rating to a hold rating in a research report released on Saturday morning.

BWAY has been the topic of several other research reports. Weiss Ratings raised shares of Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Zacks Research lowered shares of Brainsway from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. HC Wainwright dropped their price target on shares of Brainsway from $30.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. Finally, Northland Securities set a $15.00 price target on shares of Brainsway in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Brainsway Stock Performance

Shares of BWAY opened at $15.03 on Friday. The company has a market capitalization of $601.80 million, a price-to-earnings ratio of 42.94 and a beta of 1.23. The company’s 50 day simple moving average is $14.57 and its 200 day simple moving average is $11.65. Brainsway has a 1 year low of $4.94 and a 1 year high of $17.35.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. The business had revenue of $15.53 million for the quarter, compared to the consensus estimate of $14.63 million. Brainsway had a net margin of 15.68% and a return on equity of 12.51%. Equities analysts expect that Brainsway will post 0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Brainsway

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in Brainsway by 2.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 25,738 shares of the company’s stock worth $490,000 after purchasing an additional 589 shares during the last quarter. Man Group plc increased its position in shares of Brainsway by 4.5% in the fourth quarter. Man Group plc now owns 18,027 shares of the company’s stock worth $343,000 after acquiring an additional 782 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Brainsway by 7.4% in the third quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock worth $431,000 after acquiring an additional 1,964 shares in the last quarter. Zuckerman Investment Group LLC increased its position in shares of Brainsway by 5.3% in the third 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. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Brainsway in the first quarter worth $40,000. Institutional investors and hedge funds own 30.11% of the company’s stock.

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.