Insights

Cochlear (ASX:COH) share price rises on bullish broker note

One leading broker remains bullish on Cochlear…
The post Cochlear (ASX:COH) share price rises on bullish broker note appeared first on The Motley Fool Australia. –

The Cochlear Limited (ASX: COH) share price has been a positive performer on Friday.

In afternoon trade, the hearing solutions company’s shares are up 1.5% to $248.50.

This latest gain means the Cochlear share price is now up a sizeable 31% since the start of the year.

Why is the Cochlear share price pushing higher today?

Investors have been buying the company’s shares on Friday after it was the subject of a bullish broker note out of Macquarie Group Ltd (ASX: MQG) this morning.

According to the note, the broker has retained its outperform rating and lifted its price target on the company’s shares to $264.00.

Based on the current Cochlear share price, this implies potential upside of 6% over the next 12 months.

Why is Macquarie a fan of Cochlear?

The broker made the move following its latest survey of 12 US-based audiologists that specialise in cochlear implants. That survey revealed that Cochlear’s products were regarded as the best in their class for performance and features, outperforming rivals such as Med-El and Advanced Bionics.

In addition to this, the survey shows that cochlear implants patient numbers have been improving. So much so, new patient numbers are now higher than pre-COVID levels. This bodes well for Cochlear, particularly given how the survey indicates that it is winning market share and is expected to continue doing so in the next 12 months.

In light of the above, Macquarie is now forecasting earnings per share of ~$3.65 in FY 2021 and then $4.89 in FY 2022. Based on the current Cochlear share price, this means that its shares are currently changing hands at 51x estimated FY 2022 earnings.

While this is a premium to the market average, it is a price that Macquarie appears to believe is more than fair for such a quality company.

The post Cochlear (ASX:COH) share price rises on bullish broker note appeared first on The Motley Fool Australia.

Should you invest $1,000 in Cochlear right now?

Before you consider Cochlear, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Cochlear wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

2 excellent ASX 200 blue chip shares to consider

Nuix (ASX:NXL) share price falls as warrant to search offices issued
The Cochlear (ASX:COH) share price has surged nearly 30% in 2021
These 3 shares are the best performers of the ASX 50 so far in 2021

Why we avoid mining and biotech ASX shares: fund manager

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!