Envoy Medical (COCH) to Release Quarterly Earnings on Tuesday

Envoy Medical (NASDAQ:COCH) will likely be announcing 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 released its earnings results on Monday, March 23rd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.02). The business had revenue of $0.08 million for the quarter, compared to the consensus estimate 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 Trading Down 1.5%

Shares of NASDAQ COCH opened at $0.64 on Tuesday. The firm has a market capitalization of $49.43 million, a PE ratio of -0.53 and a beta of 2.08. Envoy Medical has a 1 year low of $0.36 and a 1 year high of $1.91. The firm’s 50-day moving average is $0.68 and its 200-day moving average is $0.77.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, January 27th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.50.

Insider Buying and Selling at Envoy Medical

In related news, Director Mona Chetan Patel bought 312,500 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were purchased at an average price of $0.40 per share, with a total value of $125,000.00. Following the completion of the purchase, the director owned 332,500 shares of the company’s stock, valued at $133,000. This represents a 1,562.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan Kantor bought 96,150 shares of Envoy Medical 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 $38,460.00. Following the acquisition, the director owned 174,037 shares of the company’s stock, valued at approximately $69,614.80. The trade was a 123.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 20,433,650 shares of company stock valued at $8,173,460 over the last quarter. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Envoy Medical

A number of hedge funds have recently modified their holdings of the company. Focus Partners Wealth bought a new position in Envoy Medical during the 1st quarter worth approximately $276,000. Geode Capital Management LLC increased its stake in Envoy Medical by 111.3% in 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 in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Envoy Medical in the third quarter valued at approximately $60,000. 8.59% of the stock is currently owned by institutional investors and hedge funds.

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.