Brainsway (NASDAQ:BWAY) Downgraded by Zacks Research to Hold

Brainsway (NASDAQ:BWAY) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

BWAY has been the subject of several other reports. HC Wainwright dropped their target price on Brainsway from $30.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Northland Securities set a $15.00 target price on Brainsway in a research report on Thursday, January 22nd. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings raised Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Brainsway Stock Up 0.1%

NASDAQ BWAY opened at $16.74 on Monday. Brainsway has a fifty-two week low of $4.60 and a fifty-two week high of $17.35. The stock has a market cap of $670.27 million, a price-to-earnings ratio of 66.96 and a beta of 1.23. The business has a fifty day moving average of $14.57 and a 200-day moving average of $11.51.

Brainsway (NASDAQ:BWAY) last released its quarterly earnings results on Wednesday, March 11th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Brainsway had a return on equity of 11.10% and a net margin of 14.62%.The company had revenue of $14.55 million during the quarter, compared to analysts’ expectations of $14.02 million. As a group, analysts anticipate that Brainsway will post 0.31 EPS for the current year.

Institutional Trading of Brainsway

Institutional investors and hedge funds have recently made changes to their positions in the stock. Y.D. More Investments Ltd raised its position in shares of Brainsway by 559.8% during the 4th quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock worth $2,187,000 after purchasing an additional 97,537 shares during the period. Bullseye Asset Management LLC bought a new position in Brainsway in the 4th quarter worth approximately $299,000. Legato Capital Management LLC boosted its stake in Brainsway by 9.3% during the 4th quarter. Legato Capital Management LLC now owns 97,376 shares of the company’s stock valued at $1,852,000 after purchasing an additional 8,295 shares in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in Brainsway during the 4th quarter valued at $209,000. Finally, Sigma Planning Corp bought a new position in Brainsway during the 4th quarter valued at $285,000. 30.11% of the stock is currently owned by institutional investors and hedge funds.

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.