CochLear (OTCMKTS:CHEOY) Shares Gap Up – Here’s What Happened

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) shares gapped up before the market opened on Monday . The stock had previously closed at $47.40, but opened at $50.31. CochLear shares last traded at $50.31, with a volume of 7,661 shares changing hands.

Analyst Ratings Changes

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

CochLear Price Performance

The firm’s fifty day moving average price is $45.80 and its 200-day moving average price is $46.25.

CochLear Company Profile

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.