CochLear (OTCMKTS:CHEOY) Shares Gap Down – Time to Sell?

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $48.37, but opened at $46.63. CochLear shares last traded at $46.63, with a volume of 168 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank Of Canada downgraded CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 target price for the company. in a research report on Thursday, July 16th. Zacks Research raised shares of CochLear from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group lowered shares of CochLear from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Canaccord Genuity Group cut shares of CochLear from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $117.00.

CochLear Stock Down 3.0%

The firm has a 50 day moving average price of $45.80 and a 200-day moving average price of $46.41.

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.