Envoy Medical (COCH) to Release Quarterly Earnings on Tuesday

Envoy Medical (NASDAQ:COCH) is expected to be releasing its results before the market opens on Tuesday, April 7th. Analysts expect Envoy Medical to post earnings of ($0.24) per share and revenue of $0.03 million for the quarter.

Envoy Medical (NASDAQ:COCH) last released its quarterly earnings data on Monday, March 23rd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.02). The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.03 million. On average, analysts expect Envoy Medical to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Envoy Medical Price Performance

Shares of NASDAQ COCH opened at $0.75 on Monday. The company has a market cap of $57.47 million, a P/E ratio of -0.61 and a beta of 2.07. The business’s 50 day moving average is $0.68 and its two-hundred day moving average is $0.75. Envoy Medical has a 12 month low of $0.36 and a 12 month high of $1.91.

Insider Buying and Selling at Envoy Medical

In other news, CFO Robert Potashnick acquired 212,500 shares of Envoy Medical stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average price of $0.40 per share, for a total transaction of $85,000.00. Following the transaction, the chief financial officer directly owned 212,500 shares of the company’s stock, valued at approximately $85,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Brynelsen acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average price of $0.40 per share, with a total value of $400,000.00. Following the completion of the acquisition, the director directly owned 1,050,000 shares of the company’s stock, valued at $420,000. This trade represents a 2,000.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 20,433,650 shares of company stock valued at $8,173,460 over the last three months. 5.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Focus Partners Wealth acquired a new position in shares of Envoy Medical during the first quarter valued at about $276,000. CIBC Bancorp USA Inc. purchased a new position in shares of Envoy Medical during the third quarter valued at approximately $60,000. Finally, Geode Capital Management LLC boosted its position in shares of Envoy Medical by 111.3% during the fourth quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock valued at $65,000 after buying an additional 51,813 shares during the last quarter. 8.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. HC Wainwright started coverage on Envoy Medical in a report on Tuesday, March 31st. They issued a “buy” rating and a $2.50 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, January 27th. Finally, Zacks Research upgraded Envoy Medical to a “hold” rating in a report on Wednesday, April 1st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

Envoy Medical Company Profile

Envoy Medical (NASDAQ:COCH) is a medical device company focused on non-invasive neuromodulation therapies for dysphagia, a swallowing disorder that affects patients following neurological events or due to degenerative conditions. The company’s lead technology delivers targeted electrical stimulation designed to strengthen the muscles and neural pathways involved in the swallowing process.

Envoy Medical’s flagship therapy has received regulatory clearance from the U.S. Food and Drug Administration and is being introduced through rehabilitation centers, speech-language pathology clinics and acute care hospitals.