Cochlear is falling faster than the broader market today.
The post The Cochlear (ASX:COH) share price drops 3% today appeared first on The Motley Fool Australia. –
The Cochlear Limited (ASX: COH) share price is flopping today despite no news having been released by the company.
At the time of writing, Cochlear shares are swapping hands for $235.78 apiece. That represents a 2.76% fall from its previous closing price.
While the broader market is also falling today, Cochlear’s drop is more severe.
Let’s take a look at what the hearing device manufacturer and distributer has been up to lately.
The latest news
The last time we heard price-sensitive news from Cochlear was way back in February when the company released its results for the first half of the 2021 financial year.
Cochlear must have bested the market’s expectations. Despite posting a slight loss and a dividend that was 28% less than that of the previous corresponding period, the results boosted the Cochlear share price by 8.4%.
Cochlear share price snapshot
Cochlear’s shares are some of the ASX’s most expensive and their value has continued to climb through 2021.
The Cochlear share price has gained 24% year to date. It has also grown 17% since this time last year.
The company has a market capitalisation of around $15.9 billion with approximately 65 million shares outstanding.
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
Suncorp (ASX:SUN) share price bucks market downtrend on ~$84m divestment
Blazing it? How the top ASX cannabis shares performed in FY21
Motley Fool contributor Brooke Cooper 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 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.