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

Shares of CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) gapped up before the market opened 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 trading hands.

Analyst Ratings Changes

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

CochLear Stock Up 6.2%

The business’s 50 day moving average price is $48.14 and its two-hundred day moving average price is $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.