CochLear (OTCMKTS:CHEOY) Hits New 1-Year Low on Analyst Downgrade

Shares of CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) reached a new 52-week low during trading on Thursday after UBS Group downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $34.80 and last traded at $36.44, with a volume of 117462 shares. The stock had previously closed at $59.77.

A number of other equities analysts have also recently commented on CHEOY. Zacks Research raised shares of CochLear to a “hold” rating in a research note on Friday, April 17th. Royal Bank Of Canada raised shares of CochLear from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CochLear presently has a consensus rating of “Moderate Buy”.

CochLear Price Performance

The firm’s 50-day moving average price is $61.43 and its two-hundred day moving average price is $80.34.

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.