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

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) gapped down before the market opened on Thursday . The stock had previously closed at $48.37, but opened at $46.63. CochLear shares last traded at $46.63, with a volume of 168 shares traded.

Wall Street Analysts Forecast Growth

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

CochLear Trading Up 0.9%

The company has a fifty day moving average of $45.60 and a 200-day moving average of $46.56.

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.