Envoy Medical (COCH) Projected to Post Earnings on Thursday

Envoy Medical (NASDAQ:COCH) is expected to post its results before the market opens on Thursday, May 7th. Analysts expect Envoy Medical to post earnings of ($0.14) per share and revenue of $0.10 million for the quarter.

Envoy Medical (NASDAQ:COCH) last released its quarterly earnings results on Monday, March 23rd. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.02). The company had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.03 million.

Envoy Medical Trading Up 2.0%

NASDAQ COCH opened at $0.69 on Tuesday. The stock has a market capitalization of $53.42 million, a price-to-earnings ratio of -0.57 and a beta of 1.92. Envoy Medical has a twelve month low of $0.36 and a twelve month high of $1.91. The stock has a 50-day moving average of $0.71 and a 200 day moving average of $0.71.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COCH. Zacks Research raised Envoy Medical to a “hold” rating in a report on Wednesday, April 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a report on Friday, April 24th. Finally, HC Wainwright initiated coverage on Envoy Medical in a report on Tuesday, March 31st. They issued a “buy” rating and a $2.50 price target for the company. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Envoy Medical currently has a consensus rating of “Hold” and an average price target of $6.00.

Insider Activity

In other news, CFO Robert Potashnick purchased 212,500 shares of the stock in a transaction dated Thursday, February 12th. The stock was acquired at an average cost of $0.40 per share, for a total transaction of $85,000.00. Following the completion of the transaction, the chief financial officer directly owned 212,500 shares in the company, valued at approximately $85,000. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Glen A. Taylor purchased 18,750,000 shares of the stock in a transaction dated Thursday, February 12th. The shares were purchased at an average price of $0.40 per share, with a total value of $7,500,000.00. Following the completion of the transaction, the insider owned 21,703,607 shares of the company’s stock, valued at approximately $8,681,442.80. This trade represents a 634.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 20,433,650 shares of company stock worth $8,173,460. 7.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of COCH. Focus Partners Wealth purchased a new position in shares of Envoy Medical during the first quarter worth $276,000. CIBC Bancorp USA Inc. purchased a new position in Envoy Medical in the third quarter valued at $60,000. Finally, Geode Capital Management LLC boosted its holdings 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 during the period. 8.59% of the stock is currently owned by hedge funds and other institutional investors.

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.