Palumbo Wealth Management LLC Makes New $111,000 Investment in Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)

Palumbo Wealth Management LLC purchased a new position in shares of Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) in the first quarter, Holdings Channel reports. The fund purchased 11,773 shares of the company’s stock, valued at approximately $111,000.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in Brainsway during the 4th quarter worth approximately $44,000. GAMMA Investing LLC raised its position in Brainsway by 720.7% during the 1st quarter. GAMMA Investing LLC now owns 9,356 shares of the company’s stock worth $89,000 after buying an additional 8,216 shares during the last quarter. Sei Investments Co. purchased a new position in Brainsway during the 4th quarter worth approximately $149,000. Cubist Systematic Strategies LLC raised its position in Brainsway by 14.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 19,228 shares of the company’s stock worth $181,000 after buying an additional 2,446 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Brainsway by 10.8% during the 4th quarter. Rhumbline Advisers now owns 21,966 shares of the company’s stock worth $207,000 after buying an additional 2,144 shares during the last quarter. 30.11% of the stock is owned by hedge funds and other institutional investors.

Brainsway Price Performance

NASDAQ:BWAY opened at $11.49 on Tuesday. The firm has a market cap of $217.16 million, a price-to-earnings ratio of 57.45 and a beta of 1.32. The company has a 50 day moving average price of $9.81 and a 200-day moving average price of $9.84. Brainsway Ltd. Sponsored ADR has a 1-year low of $5.67 and a 1-year high of $12.00.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Tuesday, May 13th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $11.54 million during the quarter, compared to analyst estimates of $11.45 million. Brainsway had a net margin of 9.01% and a return on equity of 7.35%. On average, sell-side analysts anticipate that Brainsway Ltd. Sponsored ADR will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Brainsway in a research report on Monday, June 9th.

About Brainsway

BrainsWay Ltd. develops and sells noninvasive neurostimulation treatments for mental health disorders in the United States and internationally. It offers Deep Transcranial Magnetic Stimulation platform technology for the treatment of major depressive disorders, anxious depression, obsessive-compulsive disorders, smoking addiction, bipolar disorders, post traumatic stress disorders, schizophrenia, Alzheimer's disease, autism, chronic pain, multiple sclerosis, post stroke rehabilitation, and Parkinson's diseases.