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

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

Envoy Medical Price Performance

NASDAQ COCH opened at $0.67 on Monday. The stock’s 50 day simple moving average is $0.69 and its 200 day simple moving average is $0.68. Envoy Medical has a one year low of $0.36 and a one year high of $1.89. The firm has a market cap of $51.60 million, a PE ratio of -0.66 and a beta of 1.90.

Hedge Funds Weigh In On Envoy Medical

A number of institutional investors and hedge funds have recently bought and sold shares of COCH. Geode Capital Management LLC increased its stake in shares of 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 buying an additional 51,813 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Envoy Medical during the 3rd quarter worth about $60,000. Finally, Focus Partners Wealth bought a new stake in Envoy Medical during the 1st quarter worth about $276,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on COCH shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, July 21st. Loop Capital set a $2.00 target price on Envoy Medical in a research note on Monday, July 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $2.50 price target on shares of Envoy Medical in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.