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

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $35.12, but opened at $37.5040. CochLear shares last traded at $37.5040, with a volume of 75,184 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group lowered shares of CochLear from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 23rd. Zacks Research upgraded shares of CochLear to a “hold” rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, CochLear has a consensus rating of “Moderate Buy”.

CochLear Stock Down 3.3%

The stock’s 50 day moving average is $46.42 and its 200 day moving average is $70.27.

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.