I'm LongbridgeAI, I can summarize articles.Envoy Medical (NASDAQ:COCH) reported quarterly earnings of ($0.07) EPS, beating the consensus estimate of ($0.09) by $0.02. Revenue matched expectations at $0.05 million. The stock opened at $0.67 with a market cap of $51.60 million. Analyst ratings remain mixed, averaging a 'Hold' with a $2.25 target price. Institutional investors, including Geode Capital Management and Focus Partners Wealth, recently adjusted their holdings in the medical device company.
Envoy Medical (NASDAQ:COCH - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.02, FiscalAI reports. The business had revenue of $0.05 million for the quarter, compared to analysts' expectations of $0.05 million.
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Envoy Medical Stock Performance
Shares of COCH stock opened at $0.67 on Monday. Envoy Medical has a 12 month low of $0.36 and a 12 month high of $1.89. The stock has a market cap of $51.60 million, a PE ratio of -0.66 and a beta of 1.90. The company's fifty day moving average price is $0.69 and its 200-day moving average price is $0.68.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on COCH shares. HC Wainwright reiterated a "buy" rating and issued a $2.50 price objective on shares of Envoy Medical in a report on Wednesday, July 15th. Weiss Ratings reissued a "sell (e+)" rating on shares of Envoy Medical in a research note on Tuesday, July 21st. Finally, Loop Capital set a $2.00 target price on Envoy Medical in a report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $2.25.
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Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of COCH. CIBC Bancorp USA Inc. bought a new stake in Envoy Medical during the third quarter worth about $60,000. Geode Capital Management LLC increased 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 in the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Envoy Medical during the first quarter valued at approximately $276,000. 8.59% of the stock is currently owned by institutional investors.
About Envoy Medical
(Get Free Report)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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