CochLear (OTCMKTS:CHEOY) Shares Climb 3.5% – Time to Buy?

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) was up 3.5% during mid-day trading on Monday. The company traded as high as $51.67 and last traded at $51.67. Approximately 2,112 shares changed hands during trading, a decline of 96% from the average session volume of 51,690 shares. The stock had previously closed at $49.9032.

Analyst Upgrades and Downgrades

CHEOY has been the subject of a number of analyst reports. Royal Bank Of Canada lowered shares of CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 target price for the company. 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 note on Tuesday, August 18th. Zacks Research raised CochLear from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Jefferies Financial Group cut CochLear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $117.00.

CochLear Price Performance

The firm’s 50-day moving average is $46.51 and its 200 day moving average is $45.73.

About CochLear

Cochlear Limited is an Australian medical device company that develops, manufactures and supplies implantable hearing solutions. Its products are designed for people with severe to profound hearing loss who may not receive sufficient benefit from conventional hearing aids.

The company’s portfolio includes cochlear implants, bone conduction hearing implants, and related sound processors, accessories, software and support services. Cochlear also provides rehabilitation resources, clinical support and ongoing product services intended to help recipients use and maintain their hearing systems.

Founded in 1981 and headquartered in Sydney, Australia, Cochlear serves customers through a global network spanning Australia, New Zealand, North America, Europe, Asia and other international markets.