Cochlear (OTCMKTS:CHEOY) Trading 1.7% Higher – Here’s Why

Shares of Cochlear Limited (OTCMKTS:CHEOY) were up 1.7% during trading on Wednesday . The company traded as high as $85.75 and last traded at $85.19. Approximately 8,069 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 16,362 shares. The stock had previously closed at $83.75.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group assumed coverage on shares of Cochlear in a research note on Thursday, January 16th. They set a “neutral” rating for the company.

Cochlear Price Performance

The company has a fifty day simple moving average of $88.48 and a two-hundred day simple moving average of $93.23.

Cochlear Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.6165 per share. This is a boost from Cochlear’s previous dividend of $0.14. The ex-dividend date is Friday, March 21st.

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.