Cochlear (ASX:COH) first half-results missing estimates is "disappointing" due to upgrades to its Nuclear 8 sound processor, which caused a decline in services revenue, according to Feb. 14 noted by Jarden Research.
The company reported Friday that its six-month earnings per diluted share rose to AU$3.125 from AU$2.913 per diluted share a year earlier. Total revenue for the half year ended Dec. 31, 2024, was AU$1.17 billion.
Jarden believes that COH's plan to launch its next-generation implant and the introduction of its Kanso 3 sound processor by mid-2025 should strengthen its outlook for 2026.
The investment firm reaffirmed a neutral rating and a price target of AU$263.75 on COH.
Shares of COH rose 4% in recent Monday trade.
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