Brainsway (NASDAQ:BWAY – Get Free Report) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.
BWAY has been the topic of a number of other research reports. Wall Street Zen raised shares of Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings raised shares of Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of Brainsway in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat.com, Brainsway currently has an average rating of “Buy” and an average target price of $16.00.
Read Our Latest Stock Analysis on BWAY
Brainsway Stock Performance
Brainsway (NASDAQ:BWAY – Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. The firm had revenue of $15.53 million for the quarter, compared to analysts’ expectations of $14.63 million. On average, sell-side analysts predict that Brainsway will post 0.33 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in Brainsway by 2.3% in 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 last quarter. Man Group plc raised its position in shares of Brainsway by 4.5% in the 4th quarter. Man Group plc now owns 18,027 shares of the company’s stock valued at $343,000 after purchasing an additional 782 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Brainsway by 7.4% during the 3rd quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock valued at $431,000 after buying an additional 1,964 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Brainsway during the 1st quarter valued at approximately $40,000. Finally, Ballast Advisors LLC acquired a new stake in shares of Brainsway during the first quarter worth approximately $55,000. 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.
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