Envoy Medical (COCH) Expected to Announce Earnings on Tuesday

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

Envoy Medical (NASDAQ:COCH) last posted its quarterly earnings results 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 business had revenue of $0.08 million for the quarter, compared to analysts’ expectations 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 Stock Performance

Shares of NASDAQ:COCH opened at $0.75 on Friday. The company has a market capitalization of $57.47 million, a PE ratio of -0.61 and a beta of 2.07. The stock has a fifty day moving average of $0.68 and a 200-day moving average of $0.75. Envoy Medical has a one year low of $0.36 and a one year high of $1.91.

Insiders Place Their Bets

In related news, Director Charles Brynelsen purchased 1,000,000 shares of the stock in a transaction on Thursday, February 12th. The shares were bought at an average price of $0.40 per share, for a total transaction of $400,000.00. Following the completion of the acquisition, the director directly owned 1,050,000 shares in the company, valued at approximately $420,000. This trade represents a 2,000.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan Kantor acquired 96,150 shares of Envoy Medical stock in a transaction dated Thursday, February 12th. The stock was purchased at an average price of $0.40 per share, with a total value of $38,460.00. Following the completion of the purchase, the director directly owned 174,037 shares of the company’s stock, valued at $69,614.80. The trade was a 123.45% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 20,433,650 shares of company stock worth $8,173,460 in the last 90 days. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Envoy Medical

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Envoy Medical by 111.3% in the 4th 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 period. CIBC Bancorp USA Inc. bought a new position in Envoy Medical during the third quarter worth about $60,000. Finally, Focus Partners Wealth bought a new position in Envoy Medical during the first quarter worth about $276,000. 8.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on COCH. Zacks Research raised shares of Envoy Medical to a “hold” rating in a research note on Wednesday. HC Wainwright began coverage on Envoy Medical in a report on Tuesday, March 31st. They set a “buy” rating and a $2.50 price target on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Envoy Medical in a research report on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Envoy Medical has a consensus rating of “Hold” and an average target price 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.