CochLear (OTCMKTS:CHEOY) Shares Gap Down – What’s Next?

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $88.61, but opened at $85.95. CochLear shares last traded at $85.95, with a volume of 306 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CHEOY. Zacks Research upgraded shares of CochLear to a “hold” rating in a research report on Monday, August 11th. Canaccord Genuity Group upgraded shares of CochLear from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, Citigroup downgraded shares of CochLear to a “neutral” rating in a research report on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

CochLear Trading Down 1.2%

The business’s fifty day moving average is $93.86 and its 200 day moving average is $94.64.

CochLear Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, October 28th. Investors of record on Monday, September 22nd were issued a dividend of $0.1045 per share. The ex-dividend date of this dividend was Friday, September 19th. This represents a yield of 122.0%.

CochLear Company Profile

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.