Cochlear Limited (OTCMKTS:CHEOY) Sees Large Increase in Short Interest

Cochlear Limited (OTCMKTS:CHEOY) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 27,700 shares, a growth of 403.6% from the August 15th total of 5,500 shares. Based on an average daily volume of 20,300 shares, the short-interest ratio is presently 1.4 days.

Analyst Ratings Changes

Separately, Morgan Stanley cut shares of Cochlear from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, September 5th.

Cochlear Trading Up 0.3 %

Shares of OTCMKTS CHEOY opened at $85.50 on Friday. Cochlear has a 12 month low of $57.62 and a 12 month high of $89.50. The company has a 50-day simple moving average of $81.36 and a 200-day simple moving average of $80.35.

Cochlear Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 26th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.516 per share. The ex-dividend date of this dividend is Friday, September 15th. This is an increase from Cochlear’s previous dividend of $0.04. Cochlear’s payout ratio is 125.46%.

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.