CochLear (OTCMKTS:CHEOY) Shares Gap Up – Still a Buy?

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) shares gapped up before the market opened on Tuesday . The stock had previously closed at $46.37, but opened at $49.21. CochLear shares last traded at $49.21, with a volume of 241 shares.

Analyst Upgrades and Downgrades

CHEOY has been the topic of a number of recent research reports. Royal Bank Of Canada lowered shares of 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. Jefferies Financial Group cut shares of CochLear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Zacks Research upgraded shares of CochLear from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, UBS Group lowered CochLear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $117.00.

CochLear Stock Performance

The stock has a 50-day moving average price of $41.64 and a 200 day moving average price of $51.62.

About CochLear

Cochlear Limited provides implantable hearing solutions for children and adults worldwide. It offers cochlear implant systems, sound processor upgrades, bone conduction systems, accessories, and other products. Cochlear Limited was founded in 1981 and is headquartered in Sydney, Australia.