Brainsway (NASDAQ:BWAY) Sets New 12-Month High Following Better-Than-Expected Earnings

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s share price hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $17.40 and last traded at $16.60, with a volume of 622702 shares. The stock had previously closed at $14.98.

The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The firm had revenue of $17.11 million for the quarter, compared to the consensus estimate of $16.54 million. Brainsway had a net margin of 15.65% and a return on equity of 12.74%.

More Brainsway News

Here are the key news stories impacting Brainsway this week:

• Positive Sentiment: Ladenburg Thalmann raised its price target for Brainsway from $18.00 to $18.80 and assigned a “buy” rating, implying approximately 15.4% upside from the referenced $16.30 price. Benzinga article
• Positive Sentiment: BTIG Research forecast strong potential price appreciation for BWAY, adding to the positive analyst momentum around the stock. BTIG Research Forecasts Strong Price Appreciation for Brainsway
• Positive Sentiment: Brainsway shares advanced sharply following an analyst upgrade, indicating that investors responded favorably to the improved Wall Street outlook. Brainsway Trading Up Following Analyst Upgrade
• Positive Sentiment: The stock set a new 52-week high following what was characterized as strong earnings. The latest quarter included revenue of $17.11 million, above the $16.54 million consensus estimate, although earnings per share fell short of expectations. Brainsway Sets New One-Year High Following Strong Earnings

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BWAY shares. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Brainsway in a report on Friday, July 17th. LADENBURG THALM/SH SH upped their target price on shares of Brainsway from $18.00 to $18.80 and gave the company a “buy” rating in a research note on Thursday. Zacks Research lowered shares of Brainsway from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. New Street Research restated a “buy” rating on shares of Brainsway in a research note on Friday, July 24th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.95.

Institutional Trading of Brainsway

Several hedge funds have recently modified their holdings of BWAY. Masters Capital Management LLC lifted its holdings in Brainsway by 65.0% in the first quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock valued at $21,928,000 after buying an additional 650,000 shares during the period. Renaissance Technologies LLC raised its position in shares of Brainsway by 87.2% during the 1st quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock valued at $6,890,000 after acquiring an additional 241,560 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Brainsway by 262.5% in the 1st quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock valued at $3,009,000 after purchasing an additional 163,925 shares during the period. Y.D. More Investments Ltd lifted its stake in shares of Brainsway by 136.6% in the 1st quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock valued at $3,615,000 after purchasing an additional 157,042 shares during the period. Finally, ARK Investment Management LLC bought a new position in shares of Brainsway in the 4th quarter worth $2,422,000. 30.11% of the stock is owned by institutional investors.

Brainsway Stock Performance

The company has a 50-day moving average price of $15.18 and a 200-day moving average price of $14.38. The firm has a market capitalization of $654.94 million, a P/E ratio of 37.09 and a beta of 1.24.

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.