CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY – Get Free Report)’s share price was up 5% during mid-day trading on Tuesday. The company traded as high as $46.89 and last traded at $46.89. Approximately 336 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 50,134 shares. The stock had previously closed at $44.64.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on CHEOY shares. Royal Bank Of Canada downgraded shares of CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 price objective on the stock. in a research report on Thursday, July 16th. 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 report on Monday, June 22nd. Finally, Jefferies Financial Group cut shares of CochLear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Five investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $117.00.
Read Our Latest Stock Report on CochLear
CochLear Trading Up 0.7%
CochLear Company Profile
Cochlear Limited is an Australian medical technology company that develops, manufactures and supplies implantable hearing solutions for people with moderate to profound hearing loss. Its products are designed to help restore access to sound for individuals who may not benefit sufficiently from conventional hearing aids.
The company’s product portfolio includes cochlear implants, sound processors, bone-conduction hearing implants and related accessories and services. Cochlear also provides professional support, rehabilitation resources and connectivity solutions for recipients, hearing-health specialists and caregivers.
Founded in 1981 and headquartered in Sydney, Australia, Cochlear traces its origins to research led by Professor Graeme Clark, whose work contributed to the development of the world’s first multichannel cochlear implant.
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