Brainsway (NASDAQ:BWAY) Sets New 12-Month High – Should You Buy?

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $16.43 and last traded at $16.4940, with a volume of 1561 shares. The stock had previously closed at $15.75.

Analyst Ratings Changes

A number of research firms have recently weighed in on BWAY. HC Wainwright reduced their price target on shares of Brainsway from $30.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Brainsway in a research note on Monday, December 29th. Northland Securities set a $15.00 price target on shares of Brainsway in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Brainsway from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Finally, Zacks Research upgraded shares of Brainsway from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.00.

Brainsway Stock Performance

The stock has a market cap of $659.33 million, a P/E ratio of 66.00 and a beta of 1.10. The firm’s fifty day simple moving average is $13.58 and its 200-day simple moving average is $10.80.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings data on Wednesday, March 11th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. The company had revenue of $14.55 million during the quarter, compared to the consensus estimate of $14.02 million. Brainsway had a net margin of 14.62% and a return on equity of 11.10%. Analysts predict that Brainsway Ltd. Sponsored ADR will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Brainsway

Several hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in Brainsway by 2.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 25,738 shares of the company’s stock valued at $490,000 after purchasing an additional 589 shares during the period. Man Group plc boosted its holdings in Brainsway by 4.5% during the 4th quarter. Man Group plc now owns 18,027 shares of the company’s stock worth $343,000 after acquiring an additional 782 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Brainsway by 7.4% during the 3rd quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock worth $431,000 after acquiring an additional 1,964 shares during the last quarter. Zuckerman Investment Group LLC boosted its holdings in Brainsway by 5.3% during the 3rd 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 during the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in Brainsway by 37.9% during the 4th quarter. Palumbo Wealth Management LLC now owns 16,320 shares of the company’s stock worth $310,000 after acquiring an additional 4,483 shares during the last quarter. 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.