CochLear (OTCMKTS:CHEOY) Shares Gap Up – Should You Buy?

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY)’s stock price gapped up prior to trading on Thursday. The stock had previously closed at $49.10, but opened at $54.00. CochLear shares last traded at $53.76, with a volume of 323 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CHEOY. Royal Bank Of Canada lowered CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 price target on the stock. in a research note on Thursday, July 16th. Canaccord Genuity Group downgraded CochLear from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Jefferies Financial Group lowered CochLear from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Five investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, CochLear presently has a consensus rating of “Hold” and a consensus price target of $117.00.

CochLear Stock Up 6.2%

The business has a 50 day moving average price of $48.14 and a 200-day moving average price of $52.20.

CochLear Company Profile

Cochlear Limited is an Australian medical device company that develops, manufactures and supplies implantable hearing solutions for people with moderate to profound hearing loss. Its portfolio includes cochlear implants, bone conduction implants and related sound processors, accessories and connectivity products designed to help users hear in a range of environments.

The company also provides clinical support, rehabilitation resources, software, technical services and ongoing care for recipients, clinicians and hearing professionals.