Brainsway (NASDAQ:BWAY) Sets New 12-Month High – Still a Buy?

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s share price reached a new 52-week high on Friday . The stock traded as high as $17.50 and last traded at $17.50, with a volume of 700 shares trading hands. The stock had previously closed at $16.51.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BWAY. BTIG Research began coverage on Brainsway in a research note on Monday. They issued a “buy” rating and a $18.00 price target for the company. New Street Research reissued a “buy” rating on shares of Brainsway in a research report on Friday. Zacks Research raised shares of Brainsway from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Brainsway in a report on Tuesday. Finally, HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Brainsway in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $15.67.

Brainsway Stock Up 0.1%

The stock’s 50-day moving average price is $15.01 and its 200-day moving average price is $13.93. The company has a market capitalization of $663.03 million, a price-to-earnings ratio of 47.72 and a beta of 1.22.

Brainsway (NASDAQ:BWAY) last issued its earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. The company had revenue of $15.53 million during the quarter, compared to analysts’ expectations of $14.63 million. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. On average, equities research analysts anticipate that Brainsway Ltd. Sponsored ADR will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Brainsway

Several large investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Brainsway in the first quarter valued at approximately $40,000. Ballast Advisors LLC bought a new position in Brainsway during the 1st quarter worth $55,000. Raymond James Financial Inc. acquired a new position in Brainsway in the 2nd quarter valued at $85,000. Bank of America Corp DE acquired a new position in Brainsway in the 3rd quarter valued at $107,000. Finally, Royal Bank of Canada lifted its position in shares of Brainsway by 1,145.9% during the 4th quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock valued at $160,000 after acquiring an additional 7,735 shares during the period. 30.11% of the stock is owned by 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.