Cochlear Poised for Medium-Term Growth on Nexa Launch, Jefferies Says

MT Newswires Live

Mar 17

Cochlear (ASX:COH) is expected to see solid operational performance and increased market share from its new Nexa cochlear implant system, despite short-term currency headwinds, Jefferies said in a Tuesday report.

Surgeons are increasingly adopting the Nucleus SmartNav tool with Nexa, giving the implant a competitive edge, while the company expects 11% cochlear implant volume growth in the second half of fiscal year 2026 and 13% in fiscal year 2027, driven by post-Nexa adoption, the report said.

Jefferies expects foreign exchange headwinds from rising Australian dollar to US dollar and Australian dollar to euro rates to reduce fiscal year 2026 underlying net profit by about AU$30 million, lowering it to around AU$404 million and causing earnings per share to decline 7% in fiscal year 2026 and 9% in fiscal year 2027.

The firm considers the company a high-quality, dominant global franchise with a proven track record, despite the short-term effects of currency fluctuations.

Jefferies maintained its buy rating on Cochlear and lowered the price target to AU$285 per share from AU$304 per share.

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