Brainsway (NASDAQ:BWAY) Shares Up 5.5% – Still a Buy?

Shares of Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) rose 5.5% during mid-day trading on Monday . The company traded as high as $16.84 and last traded at $16.59. Approximately 150,461 shares were traded during trading, a decline of 8% from the average session volume of 164,412 shares. The stock had previously closed at $15.73.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BWAY shares. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Brainsway in a report on Friday. Zacks Research raised Brainsway from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. BTIG Research began coverage on Brainsway in a research report on Monday. They issued a “buy” rating and a $18.00 price objective on the stock. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings upgraded Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $15.67.

Brainsway Stock Performance

The company has a market cap of $673.02 million, a price-to-earnings ratio of 48.06 and a beta of 1.22. The firm’s 50-day moving average price is $15.01 and its 200 day moving average price is $13.74.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. The business had revenue of $15.53 million for the quarter, compared to analyst estimates of $14.63 million. As a group, equities research analysts predict that Brainsway Ltd. Sponsored ADR will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in Brainsway by 2.3% during the fourth 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 raised its holdings in 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 purchasing an additional 782 shares during the period. NewEdge Advisors LLC boosted its position in shares of Brainsway by 7.4% during the third quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock worth $431,000 after purchasing an additional 1,964 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Brainsway in the 1st quarter valued at $40,000. Finally, Ballast Advisors LLC acquired a new position in shares of Brainsway in the 1st quarter valued at $55,000. 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.