COCHLEAR LIMITED (COH)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

COH

COH - COCHLEAR LIMITED

FNArena Sector : Medical Equipment & Devices
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 0.4
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Cochlear is a medical device company that designs, manufactures and supplies hearing implants to the global market. Formed in 1981 with finance from the Australian government, it became a listed entity in 1995, and has grown to become the global leader in its field.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$302.76

10 Jul
2025

-0.310

OPEN

$303.89

-0.10%

HIGH

$305.78

94,683

LOW

$302.76

TARGET
$292.585 -3.4% downside
Franking for last dividend paid out: 80%
OTHER COMPANIES IN THE SAME SECTOR
4DX . AT1 . AYA . BB1 . BRN . CAT . CBL . CGS . CMP . CSX . CU6 . CVB . CYC . EBR . EMV . EYE . FPH . IME . IMR . IPD . LDX . MX1 . NAN . ONE . PCK . PEB . PGC . PME . RMD . SOM . TRJ . UBI .
FNARENA'S MARKET CONSENSUS FORECASTS
COH: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 544.4 613.6 xxx
DPS (cps) xxx 410.0 430.0 xxx
EPS Growth xxx 19.1% 12.7% xxx
DPS Growth xxx 24.2% 4.9% xxx
PE Ratio xxx N/A 49.3 xxx
Dividend Yield xxx N/A 1.4% xxx
Div Pay Ratio(%) xxx 75.3% 70.1% xxx

Dividend yield today if purchased 3 years ago: 2.03%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.36

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 17/09 - ex-div 210c (franking 80%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx544.4
DPS All xxxxxxxxxxxxxxx410.0
Sales/Revenue xxxxxxxxxxxxxxx2,258.2 M
Book Value Per Share xxxxxxxxxxxxxxx2,817.3
Net Operating Cash Flow xxxxxxxxxxxxxxx388.8 M
Net Profit Margin xxxxxxxxxxxxxxx15.80 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx19.88 %
Return on Invested Capital xxxxxxxxxxxxxxx18.05 %
Return on Assets xxxxxxxxxxxxxxx13.43 %
Return on Equity xxxxxxxxxxxxxxx19.88 %
Return on Total Capital xxxxxxxxxxxxxxx25.85 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx80.7 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx42 M
Long Term Debt xxxxxxxxxxxxxxx202 M
Total Debt xxxxxxxxxxxxxxx244 M
Goodwill - Gross xxxxxxxxxxxxxxx258 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx514 M
Price To Book Value xxxxxxxxxxxxxxx11.79

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx89.8 M
Capex % of Sales xxxxxxxxxxxxxxx3.98 %
Cost of Goods Sold xxxxxxxxxxxxxxx562 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,175 M
Research & Development xxxxxxxxxxxxxxx277 M
Investments - Total xxxxxxxxxxxxxxx185 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.2

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

13/06/2025

5

Underweight

$272.00

(23/06/2025)

-10.16%

Cochlear has downgraded FY25 profit guidance to $390-400m from $410-430m, implying to Morgan Stanley negative half-on-half and year-on-year growth in 2H25.

The downgrade is due to weaker-than-expected processor upgrades, slowing cochlear implant unit sales in developed markets, and market share losses, explains the broker.

More positively, the analyst highlights Cochlear has launched its new Nexa system, including the Nucleus 8 Nexa processor and Kanso 3, with features such as upgradeable firmware and internal memory.

Morgan Stanley remains cautious, seeking further clarity on the impact of slowing unit sales and upcoming reimbursement changes in FY26. An Underweight rating and a $267 target price are maintained. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 422.00 cents and EPS of 603.00 cents.
Morgan Stanley forecasts a full year FY26 dividend of 467.00 cents and EPS of 667.00 cents.

Citi

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Wilsons

17/02/2025

3

Downgrade to Market Weight from Overweight

$280.00

-7.52%

Cochlear missed 1H services sales by -14% despite Wilsons' forecasts already factoring in weaker services growth for FY25.

The broker reckons two consecutive services misses suggests the market may have misjudged growth following the first spectacular 18 months of the N8 processor product cycle.

The company's 1H25 net profit and revenue missed also Wilsons' forecast, by -3%. Management reiterated FY25 underlying net profit guidance but with expectations to the low end of guidance, which signals a miss to Wilsons' forecast.

The broker cut FY25-26 EPS forecast by -2%. Target price lowered to $280 and rating downgraded to Market Weight from Overweight.

FORECAST
Wilsons forecasts a full year FY25 dividend of 433.40 cents and EPS of 625.40 cents.
Wilsons forecasts a full year FY26 dividend of 485.60 cents and EPS of 693.40 cents.
Access Extra Coverage Research History >

COH STOCK CHART

FNArena News on COH

1
Next Week At A Glance – 14-18 Jul 2025

12:03 PM - Weekly Reports
2
Rudi’s View: Gold stocks & Miners, DigiCo, Pinnacle & More

Jul 10 2025 - Rudi's View
3
Rudi’s View: Charter Hall, Droneshield, Pinnacle, WiseTech & More

Jul 03 2025 - Rudi's View
4
Rudi’s View: ANZ, Aurizon, Cochlear, Newmont, Telix & More

Jun 26 2025 - Rudi's View
5
Weekly Ratings, Targets, Forecast Changes – 20-06-25

Jun 23 2025 - Weekly Reports

Latest Medical Equipment & Devices News

1
Strength To ‘AI’ Strength For Pro Medicus

Jul 10 2025 - Australia
2
Cochlear Downgrades Ahead Of New Launches

Jun 19 2025 - Australia
3
Fisher & Paykel Healthcare’s Tariffs Annoyance

Jun 04 2025 - Australia
4
ResMed’s Margin Expansion & Tariff Exemption

Apr 28 2025 - Australia
5
Trend Remains Up For Catapult International

Feb 18 2025 - Technicals
6
ESG Focus: Top ASX Companies, Superbugs & Hydrogen

Feb 07 2025 - ESG Focus
7
ResMed Shakes Off GLP-1 Scare

Feb 04 2025 - Australia
8
ResMed: Another Positive Quarterly Surprise?

Jan 30 2025 - Australia
9
The Trend Remains Pro Medicus’ Friend

Jan 16 2025 - Technicals
10
Diagnostic Imaging Radiates Opportunity

Dec 18 2024 - Small Caps