CochLear (OTCMKTS:CHEOY) Trading Down 1% – Time to Sell?

Shares of CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) fell 1% during mid-day trading on Tuesday . The company traded as low as $49.74 and last traded at $50.04. 8,623 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 23,599 shares. The stock had previously closed at $50.5486.

Analysts Set New Price Targets

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

CochLear Trading Down 1.0%

The stock’s 50-day simple moving average is $44.90 and its 200-day simple moving average is $47.46.

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.