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

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

Envoy Medical Stock Performance

Envoy Medical stock opened at $0.70 on Tuesday. The business’s fifty day moving average is $0.69 and its two-hundred day moving average is $0.68. The firm has a market cap of $54.20 million, a P/E ratio of -0.70 and a beta of 1.90. Envoy Medical has a 52 week low of $0.36 and a 52 week high of $1.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COCH. Focus Partners Wealth acquired a new stake in Envoy Medical in the 1st quarter valued at about $276,000. Geode Capital Management LLC grew its stake 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, CIBC Bancorp USA Inc. bought a new stake in shares of Envoy Medical during the third quarter valued at approximately $60,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COCH shares. HC Wainwright reiterated a “buy” rating and issued a $2.50 price target on shares of Envoy Medical in a research report on Wednesday, July 15th. Loop Capital set a $2.00 price objective on Envoy Medical in a report on Monday, July 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, July 21st. One equities 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.25.

About Envoy Medical

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.