Brainsway (NASDAQ:BWAY) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Brainsway (NASDAQ:BWAY) released its quarterly earnings data on Wednesday. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03), FiscalAI reports. The firm had revenue of $17.11 million during the quarter, compared to the consensus estimate of $16.54 million. Brainsway had a net margin of 15.68% and a return on equity of 12.28%.

Brainsway Trading Up 5.7%

Shares of Brainsway stock traded up $0.85 during trading hours on Wednesday, reaching $15.83. 334,083 shares of the company’s stock were exchanged, compared to its average volume of 163,647. The stock has a market cap of $635.27 million, a P/E ratio of 45.23 and a beta of 1.24. The company has a 50 day moving average of $15.03 and a two-hundred day moving average of $14.30. Brainsway has a fifty-two week low of $6.25 and a fifty-two week high of $17.35.

Institutional Trading of Brainsway

Several institutional investors and hedge funds have recently bought and sold shares of BWAY. ARK Investment Management LLC bought a new position in Brainsway during the fourth quarter worth about $2,422,000. UBS Group AG raised its stake in Brainsway by 2,028.6% in the third quarter. UBS Group AG now owns 63,878 shares of the company’s stock valued at $963,000 after buying an additional 60,877 shares during the period. Two Sigma Investments LP raised its stake in Brainsway by 25.2% in the third quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock valued at $1,551,000 after buying an additional 20,706 shares during the period. Millennium Management LLC lifted its position in shares of Brainsway by 69.6% in the third quarter. Millennium Management LLC now owns 39,841 shares of the company’s stock valued at $600,000 after buying an additional 16,354 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Brainsway in the fourth quarter valued at approximately $245,000. Institutional investors own 30.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BWAY. New Street Research reiterated a “buy” rating on shares of Brainsway in a report on Friday, July 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Brainsway in a report on Tuesday, July 21st. BTIG Research lifted their price objective on Brainsway from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. Zacks Research upgraded Brainsway from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat, Brainsway presently has an average rating of “Buy” and a consensus target price of $16.33.

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.