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

Key Points

• 52-week high: Brainsway shares reached $14.69 and last traded at $14.30 (up 8.1%) on volume of ~247,963, with a market cap of $572.4M and 50-/200-day SMAs at $12.79 and $10.26 respectively.
• Analyst sentiment: The consensus rating is a "Buy" with an average price target of $15.00 — Zacks upgraded to strong-buy and Wall Street Zen to buy, while Weiss remains a hold and HC Wainwright cut its target to $15.
• Recent quarter beat estimates with EPS of $0.14 (vs. $0.11 est.) and revenue of $14.55M (vs. $14.02M est.), showing a 14.62% net margin and 11.10% return on equity.

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $14.69 and last traded at $14.30, with a volume of 247963 shares trading hands. The stock had previously closed at $13.23.

Analysts Set New Price Targets

Several analysts have commented on the stock. Northland Securities set a $15.00 target price on shares of Brainsway in a research report on Thursday, January 22nd. Zacks Research raised shares of Brainsway from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 24th. Wall Street Zen raised shares of Brainsway from a "hold" rating to a "buy" rating in a research report on Saturday, March 7th. HC Wainwright decreased their target price on shares of Brainsway from $30.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, March 12th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Brainsway in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $15.00.

Brainsway Stock Up 8.1%

The company has a market capitalization of $572.43 million, a P/E ratio of 57.20 and a beta of 1.10. The company's 50-day simple moving average is $12.79 and its 200 day simple moving average is $10.26.

Brainsway (NASDAQ:BWAY - Get Free Report) last posted its quarterly earnings data on Wednesday, March 11th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. The business had revenue of $14.55 million during the quarter, compared to the consensus estimate of $14.02 million. Brainsway had a net margin of 14.62% and a return on equity of 11.10%. As a group, equities research analysts forecast that Brainsway Ltd. Sponsored ADR will post 0.08 earnings per share for the current year.

Institutional Trading of Brainsway

Several large investors have recently modified their holdings of BWAY. Raymond James Financial Inc. bought a new stake in shares of Brainsway during the 2nd quarter worth $85,000. Bank of America Corp DE bought a new stake in shares of Brainsway during the 3rd quarter worth $107,000. Royal Bank of Canada boosted its holdings 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 worth $160,000 after buying an additional 7,735 shares during the period. Centiva Capital LP bought a new stake in shares of Brainsway during the 3rd quarter worth $181,000. Finally, NewEdge Advisors LLC boosted its holdings 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 buying an additional 7,549 shares during the period. 30.11% of the stock is owned by institutional investors.

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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