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

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) gapped down prior to trading on Thursday . The stock had previously closed at $94.10, but opened at $88.60. CochLear shares last traded at $88.60, with a volume of 1,795 shares.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CHEOY shares. Canaccord Genuity Group raised CochLear from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Citigroup lowered CochLear to a “neutral” rating in a research report on Thursday, September 18th. Finally, Zacks Research raised shares of CochLear to a “hold” rating in a report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, CochLear has a consensus rating of “Moderate Buy”.

CochLear Trading Down 4.3%

The company’s fifty day simple moving average is $94.88 and its 200 day simple moving average is $94.60.

CochLear Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, October 28th. Shareholders of record on Monday, September 22nd were paid a $0.1045 dividend. The ex-dividend date was Friday, September 19th. This represents a yield of 122.0%.

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.