Brainsway (NASDAQ:BWAY) Hits New 1-Year High on Earnings Beat

Key Points

• Earned beat drove rally: Brainsway hit a new 52‑week high after reporting Q EPS of $0.14 vs. the $0.11 estimate and revenue of $14.55M vs. $14.02M, with the stock trading up to $13.75 (last $13.29).
• Analyst sentiment has turned more positive — two Buy ratings and one Hold leave a MarketBeat consensus of "Moderate Buy", with an average target price of $15.00 (HC Wainwright recently raised its target to $15).
• Institutional interest is growing (institutional ownership ~30.11% and several funds adding shares); the company has a market cap of about $524M and a trailing P/E of ~89.

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $13.75 and last traded at $13.29, with a volume of 102207 shares changing hands. The stock had previously closed at $12.71.

The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. Brainsway had a net margin of 12.73% and a return on equity of 9.46%. The business had revenue of $14.55 million during the quarter, compared to the consensus estimate of $14.02 million.

Wall Street Analyst Weigh In

BWAY has been the topic of several recent research reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Brainsway in a report on Monday, December 29th. HC Wainwright boosted their price target on shares of Brainsway from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, January 26th. Northland Securities set a $15.00 target price on shares of Brainsway in a report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Brainsway from a "hold" rating to a "buy" rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Brainsway presently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC raised its holdings in shares of Brainsway by 61.5% in the first quarter. NewEdge Advisors LLC now owns 19,828 shares of the company's stock worth $188,000 after buying an additional 7,549 shares during the period. Raymond James Financial Inc. bought a new position in Brainsway in the 2nd quarter valued at $85,000. Eagle Global Advisors LLC grew its position in Brainsway by 19.3% in the 3rd quarter. Eagle Global Advisors LLC now owns 74,326 shares of the company's stock valued at $1,120,000 after acquiring an additional 12,000 shares during the last quarter. Huntleigh Advisors Inc. increased its stake in Brainsway by 6.3% in the third quarter. Huntleigh Advisors Inc. now owns 82,265 shares of the company's stock worth $1,240,000 after purchasing an additional 4,849 shares during the period. Finally, Essex Investment Management Co. LLC lifted its position in shares of Brainsway by 3.2% during the third quarter. Essex Investment Management Co. LLC now owns 310,684 shares of the company's stock worth $4,682,000 after purchasing an additional 9,744 shares during the last quarter. Institutional investors own 30.11% of the company's stock.

Brainsway Price Performance

The firm has a market capitalization of $524.18 million, a P/E ratio of 89.10 and a beta of 1.20. The firm has a 50-day moving average price of $11.87 and a two-hundred day moving average price of $9.42.

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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