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

Shares of CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) gapped up prior to trading on Thursday . The stock had previously closed at $48.37, but opened at $50.4270. CochLear shares last traded at $49.07, with a volume of 6,338 shares changing hands.

Analysts Set New Price Targets

Several research firms have issued reports on CHEOY. Canaccord Genuity Group lowered shares of CochLear from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Zacks Research raised shares of CochLear from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Jefferies Financial Group downgraded shares of CochLear from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada lowered 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. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, CochLear presently has an average rating of “Hold” and an average price target of $117.00.

CochLear Stock Down 1.5%

The stock has a fifty day simple moving average of $45.32 and a two-hundred day simple moving average of $47.16.

About CochLear

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.