CochLear (OTCMKTS:CHEOY) Shares Climb 5% – Should You Buy?

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) was up 5% on Tuesday. The stock traded as high as $46.89 and last traded at $46.89. Approximately 336 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 50,134 shares. The stock had previously closed at $44.64.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CHEOY. Zacks Research upgraded CochLear from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Jefferies Financial Group cut CochLear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Canaccord Genuity Group downgraded CochLear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Finally, 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 note on Thursday, July 16th. Five analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $117.00.

CochLear Stock Performance

The firm’s 50 day moving average is $47.70 and its 200 day moving average is $44.43.

CochLear Company Profile

Cochlear Limited is an Australian medical technology company that develops, manufactures and supplies implantable hearing solutions for people with moderate to profound hearing loss. Its products are designed to help restore access to sound for individuals who may not benefit sufficiently from conventional hearing aids.

The company’s product portfolio includes cochlear implants, sound processors, bone-conduction hearing implants and related accessories and services. Cochlear also provides professional support, rehabilitation resources and connectivity solutions for recipients, hearing-health specialists and caregivers.

Founded in 1981 and headquartered in Sydney, Australia, Cochlear traces its origins to research led by Professor Graeme Clark, whose work contributed to the development of the world’s first multichannel cochlear implant.