Envoy Medical (NASDAQ:COCH) Issues Earnings Results

Envoy Medical (NASDAQ:COCH) released its quarterly earnings data on Monday. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03, Zacks reports. The firm had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.10 million.

Envoy Medical Trading Down 1.2%

COCH stock traded down $0.01 during trading on Wednesday, hitting $0.67. The company had a trading volume of 31,685 shares, compared to its average volume of 562,042. The firm has a market capitalization of $51.66 million, a price-to-earnings ratio of -0.67 and a beta of 1.92. The business has a 50 day moving average of $0.70 and a 200 day moving average of $0.71. Envoy Medical has a fifty-two week low of $0.36 and a fifty-two week high of $1.91.

Wall Street Analyst Weigh In

Several brokerages recently commented on COCH. Zacks Research upgraded Envoy Medical to a “hold” rating in a report on Wednesday, April 1st. HC Wainwright started coverage on Envoy Medical in a report on Tuesday, March 31st. They set a “buy” rating and a $2.50 price objective on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Insiders Place Their Bets

In other news, Director Charles Brynelsen acquired 1,000,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was acquired 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 $420,000. This represents a 2,000.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert Potashnick acquired 212,500 shares of the business’s 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 $85,000.00. Following the acquisition, the chief financial officer owned 212,500 shares of the company’s stock, valued at approximately $85,000. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 20,433,650 shares of company stock valued at $8,173,460. Corporate insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Envoy Medical

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in 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 period. Focus Partners Wealth bought a new position in Envoy Medical during the first quarter valued at approximately $276,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Envoy Medical in the 3rd quarter valued at $60,000. 8.59% of the stock is 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.