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

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

Brainsway Stock Performance

Shares of BWAY opened at $26.04 on Thursday. Brainsway has a 52 week low of $7.84 and a 52 week high of $26.63. The stock has a market capitalization of $510.64 million, a price-to-earnings ratio of 86.80 and a beta of 1.20. The stock has a fifty day moving average of $21.46 and a 200-day moving average of $17.55.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Brainsway during the second quarter worth $85,000. Bank of America Corp DE acquired a new position in Brainsway in the third quarter valued at $107,000. Royal Bank of Canada boosted its position in Brainsway by 1,145.9% during the fourth quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock valued at $160,000 after acquiring an additional 7,735 shares during the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new stake in Brainsway during the 4th quarter worth about $209,000. Finally, Centiva Capital LP bought a new position in shares of Brainsway in the 3rd quarter worth about $181,000. Institutional investors and hedge funds 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.