Brokers Issue Forecasts for Envoy Medical, Inc.’s Q3 2024 Earnings (NASDAQ:COCH)

Envoy Medical, Inc. (NASDAQ:COCH) – Research analysts at Northland Capmk dropped their Q3 2024 earnings per share estimates for shares of Envoy Medical in a research note issued on Wednesday, August 14th. Northland Capmk analyst C. Byrnes now forecasts that the company will post earnings of ($0.31) per share for the quarter, down from their previous estimate of ($0.25). The consensus estimate for Envoy Medical’s current full-year earnings is ($1.05) per share. Northland Capmk also issued estimates for Envoy Medical’s Q4 2024 earnings at ($0.39) EPS, FY2024 earnings at ($1.36) EPS and FY2025 earnings at ($1.15) EPS.

Envoy Medical (NASDAQ:COCH) last announced its earnings results on Monday, August 12th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.08 million.

Separately, Ascendiant Capital Markets initiated coverage on Envoy Medical in a research note on Monday, June 24th. They set a “buy” rating and a $8.50 target price for the company.

Envoy Medical Price Performance

Shares of COCH opened at $2.61 on Friday. Envoy Medical has a one year low of $0.75 and a one year high of $11.72. The stock has a 50-day moving average price of $2.35 and a 200 day moving average price of $3.32.

Institutional Trading of Envoy Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Weiss Asset Management LP bought a new stake in shares of Envoy Medical in the 4th quarter valued at approximately $37,000. WealthTrust Asset Management LLC acquired a new position in Envoy Medical in the first quarter worth $44,000. Finally, Virtu Financial LLC bought a new stake in Envoy Medical during the first quarter valued at $55,000. 8.59% of the stock is owned by institutional investors.

About Envoy Medical

Envoy Medical, Inc, a hearing health company, provides medical technologies for the hearing loss spectrum. Its products include personal sound amplification devices; hearing aids; Esteem fully implanted active middle ear implants; auditory osseointegrated implants; and Acclaim cochlear implants. The company was formerly known as Envoy Medical Corporation and changed its name to Envoy Medical, Inc in September 2023.