Brainsway (NASDAQ:BWAY) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Brainsway from “buy” to “hold,” even as several other brokerages recently maintained bullish views on the stock.
• Analyst sentiment remains generally positive: the stock currently has a consensus “Buy” rating and an average price target of $15.67, based on MarketBeat data.
• Brainsway recently beat earnings expectations, reporting $0.12 EPS versus the $0.05 estimate and revenue of $15.53 million, while the stock traded at $15.97 with a market cap of about $640.9 million.

Brainsway (NASDAQ:BWAY - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other brokerages have also recently commented on BWAY. New Street Research restated a "buy" rating on shares of Brainsway in a research note on Friday. HC Wainwright reiterated a "buy" rating and issued a $14.00 price objective on shares of Brainsway in a research note on Friday, July 17th. Zacks Research raised shares of Brainsway from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Weiss Ratings restated a "buy (b-)" rating on shares of Brainsway in a research report on Tuesday. Finally, BTIG Research assumed coverage on shares of Brainsway in a report on Monday, July 20th. They issued a "buy" rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $15.67.

Brainsway Stock Performance

Brainsway stock opened at $15.97 on Friday. The business's 50-day simple moving average is $15.02 and its two-hundred day simple moving average is $13.95. The company has a market cap of $640.86 million, a PE ratio of 45.63 and a beta of 1.22. Brainsway has a fifty-two week low of $5.68 and a fifty-two week high of $17.35.

Brainsway (NASDAQ:BWAY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. Brainsway had a return on equity of 12.28% and a net margin of 15.68%.The firm had revenue of $15.53 million during the quarter, compared to analysts' expectations of $14.63 million. As a group, analysts predict that Brainsway will post 0.33 EPS for the current fiscal year.

Institutional Trading of Brainsway

A number of institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC raised its position in shares of Brainsway by 61.5% during the 1st quarter. NewEdge Advisors LLC now owns 19,828 shares of the company's stock worth $188,000 after purchasing an additional 7,549 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Brainsway in the second quarter valued at approximately $85,000. UBS Group AG lifted its position in shares of Brainsway by 2,028.6% in the third quarter. UBS Group AG now owns 63,878 shares of the company's stock valued at $963,000 after acquiring an additional 60,877 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Brainsway by 25.2% in the third quarter. Two Sigma Investments LP now owns 102,902 shares of the company's stock worth $1,551,000 after acquiring an additional 20,706 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Brainsway in the third quarter worth approximately $107,000. Hedge funds and other institutional investors 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.

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