Envoy Medical (COCH) Expected to Announce Earnings on Thursday

Key Points

• Earnings on May 7: Envoy Medical is expected to report results before the open on Thursday, May 7, with analysts forecasting EPS of ($0.14) and revenue of $0.10 million.
• Significant insider buying: Directors and the CFO made large February purchases, and insiders have acquired 20,433,650 shares worth about $8.17 million over the last three months, now owning 7.10% of the company.
• Market and analyst backdrop: Shares trade near $0.68 with a market cap of $52.0M and mixed coverage (average rating "Hold") despite a consensus price target of $6.00, indicating wide valuation dispersion.

Envoy Medical (NASDAQ:COCH - Get Free Report) will likely be releasing 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 - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $0.03 million.

Envoy Medical Stock Performance

Shares of COCH stock opened at $0.68 on Thursday. The stock's 50 day simple moving average is $0.71 and its 200 day simple moving average is $0.72. Envoy Medical has a twelve month low of $0.36 and a twelve month high of $1.91. The company has a market capitalization of $52.03 million, a price-to-earnings ratio of -0.55 and a beta of 2.07.

Insider Transactions at Envoy Medical

In other Envoy Medical news, Director Mona Chetan Patel bought 312,500 shares of the 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 acquisition, the director directly owned 332,500 shares of the company's stock, valued at $133,000. This represents a 1,562.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Potashnick acquired 212,500 shares of the firm's stock in a transaction dated Thursday, February 12th. The shares were purchased at an average cost of $0.40 per share, for a total transaction of $85,000.00. Following the acquisition, the chief financial officer directly owned 212,500 shares in the company, valued at $85,000. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 20,433,650 shares of company stock worth $8,173,460. Insiders own 7.10% of the company's stock.

Institutional Trading of Envoy Medical

Institutional investors have recently modified their holdings of the company. Focus Partners Wealth acquired a new stake in shares of Envoy Medical during the 1st quarter worth approximately $276,000. Geode Capital Management LLC grew its holdings in shares of Envoy Medical by 111.3% during the 4th quarter. Geode Capital Management LLC now owns 98,351 shares of the company's stock worth $65,000 after purchasing an additional 51,813 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Envoy Medical during the 3rd quarter worth approximately $60,000. Institutional investors and hedge funds own 8.59% of the company's stock.

Wall Street Analyst Weigh In

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

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.

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