Envoy Medical (NASDAQ:COCH) Issues Earnings Results, Beats Estimates By $0.02 EPS

Envoy Medical (NASDAQ:COCH) announced its quarterly earnings data on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02, FiscalAI reports. The company had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.05 million.

Envoy Medical Stock Performance

NASDAQ COCH opened at $0.67 on Monday. Envoy Medical has a one year low of $0.36 and a one year high of $1.89. The stock has a 50-day moving average of $0.69 and a 200 day moving average of $0.68. The company has a market capitalization of $51.60 million, a price-to-earnings ratio of -0.66 and a beta of 1.90.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on COCH. HC Wainwright reissued a “buy” rating and issued a $2.50 target price on shares of Envoy Medical in a research note on Wednesday, July 15th. Loop Capital set a $2.00 price target on Envoy Medical in a research report on Monday, July 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Envoy Medical currently has a consensus rating of “Hold” and an average price target of $2.25.

Institutional Trading of Envoy Medical

A number of institutional investors have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. bought a new stake in shares of Envoy Medical in the third quarter worth approximately $60,000. Geode Capital Management LLC raised its holdings 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 purchasing an additional 51,813 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in Envoy Medical during the first quarter valued at approximately $276,000. Hedge funds and other institutional investors own 8.59% of the company’s stock.

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.