Brainsway (NASDAQ:BWAY) Posts Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• Brainsway reported quarterly EPS of $0.07, missing analyst expectations by $0.03, while revenue of $17.11 million exceeded estimates of $16.54 million.
• Shares rose 4.9% to $15.71 after the results, with the stock trading near its 12-month high and holding a market capitalization of approximately $630 million.
• Analysts remain broadly bullish: the stock has an average “Buy” rating and a consensus price target of $16.33, while institutional investors own 30.11% of outstanding shares.

Brainsway (NASDAQ:BWAY - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.03), FiscalAI reports. Brainsway had a return on equity of 12.28% and a net margin of 15.68%.The business had revenue of $17.11 million for the quarter, compared to analyst estimates of $16.54 million.

Brainsway Stock Up 4.9%

Shares of BWAY traded up $0.73 during trading hours on Wednesday, reaching $15.71. 276,475 shares of the company traded hands, compared to its average volume of 163,647. The business has a fifty day moving average price of $15.03 and a 200-day moving average price of $14.30. Brainsway has a 12-month low of $6.25 and a 12-month high of $17.35. The stock has a market capitalization of $630.46 million, a P/E ratio of 44.89 and a beta of 1.24.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BWAY. Weiss Ratings reissued a "buy (b-)" rating on shares of Brainsway in a research report on Tuesday, July 21st. Zacks Research upgraded Brainsway from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. New Street Research reiterated a "buy" rating on shares of Brainsway in a research note on Friday, July 24th. BTIG Research raised their price target on Brainsway from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, HC Wainwright restated a "buy" rating and set a $14.00 price target on shares of Brainsway in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat, Brainsway currently has an average rating of "Buy" and an average price target of $16.33.

Institutional Trading of Brainsway

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BWAY. ARK Investment Management LLC purchased a new stake in Brainsway during the 4th quarter valued at about $2,422,000. Two Sigma Investments LP raised 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 purchasing an additional 20,706 shares during the last quarter. UBS Group AG lifted its holdings in shares of Brainsway by 2,028.6% during the third quarter. UBS Group AG now owns 63,878 shares of the company's stock worth $963,000 after purchasing an additional 60,877 shares during the period. Millennium Management LLC lifted its holdings in shares of Brainsway by 69.6% during the third quarter. Millennium Management LLC now owns 39,841 shares of the company's stock worth $600,000 after purchasing an additional 16,354 shares during the period. Finally, NewEdge Advisors LLC boosted its position in Brainsway by 7.4% in the third quarter. NewEdge Advisors LLC now owns 28,629 shares of the company's stock valued at $431,000 after buying an additional 1,964 shares during the last quarter. Institutional investors and hedge funds 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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