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

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

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

Brainsway Stock Performance

Shares of Brainsway stock opened at $15.97 on Friday. The stock has a 50 day moving average of $15.02 and a 200 day moving average of $13.95. The firm has a market capitalization of $640.88 million, a price-to-earnings ratio of 45.63 and a beta of 1.22. Brainsway has a fifty-two week low of $5.68 and a fifty-two week high of $17.35.

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

Institutional Trading of Brainsway

A number of institutional investors and hedge funds have recently bought and sold shares of BWAY. Masters Capital Management LLC lifted its holdings in Brainsway by 65.0% during the 1st quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock worth $21,928,000 after buying an additional 650,000 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Brainsway by 87.2% in the first quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock worth $6,890,000 after acquiring an additional 241,560 shares in the last quarter. Sei Investments Co. grew its stake in shares of Brainsway by 262.5% in the first quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock worth $3,009,000 after acquiring an additional 163,925 shares in the last quarter. Y.D. More Investments Ltd increased its position in shares of Brainsway by 136.6% during the first quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock worth $3,615,000 after acquiring an additional 157,042 shares during the period. Finally, ARK Investment Management LLC purchased a new stake in shares of Brainsway during the fourth quarter worth $2,422,000. 30.11% of the stock is currently owned by hedge funds and other 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.