Brainsway Stock Scheduled to Split on Tuesday, March 3rd (NASDAQ:BWAY)

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) shares are going to split on Tuesday, March 3rd. The 2-1 split was recently announced. The newly issued shares will be payable to shareholders after the closing bell on Monday, March 2nd.

Brainsway Stock Performance

Shares of NASDAQ BWAY opened at $26.04 on Thursday. The firm has a fifty day moving average of $21.46 and a 200 day moving average of $17.55. The firm has a market cap of $510.64 million, a PE ratio of 86.80 and a beta of 1.20. Brainsway has a one year low of $7.84 and a one year high of $26.63.

Analysts Set New Price Targets

Several research firms have commented on BWAY. HC Wainwright boosted their price objective on Brainsway from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brainsway in a research note on Monday, December 29th. Wall Street Zen downgraded Brainsway from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Northland Securities set a $30.00 target price on shares of Brainsway in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Institutional Investors Weigh In On Brainsway

A number of hedge funds have recently modified their holdings of the company. ARK Investment Management LLC acquired a new position in Brainsway in the fourth quarter valued at approximately $2,422,000. Y.D. More Investments Ltd raised its position in Brainsway by 559.8% in the fourth quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock valued at $2,187,000 after purchasing an additional 97,537 shares during the period. UBS Group AG raised its position in 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 purchasing an additional 60,877 shares during the period. Two Sigma Investments LP lifted its stake in shares of Brainsway by 25.2% in the 3rd quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock valued at $1,551,000 after purchasing an additional 20,706 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Brainsway by 69.6% during the 3rd 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. Hedge funds and other institutional investors own 30.11% of the company’s stock.

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.