0659 GMT - Cochlear's bull at Jefferies doesn't think the volume pressures experienced by the hearing-implant maker are structural. Maintaining a buy rating on the stock, analyst David Stanton tells clients in a note that rising U.S. Medicare costs and authorization procedures from commercial insurers are delaying volume demand for the Australia-listed company. Most Americans with private insurers are on high-deductable plans, while the growing view among patients and insurers is that cochlear implant procedures are semielective, he adds. However, he says the market remains underpenetrated and Cochlear's volume opportunity is large. Soft demand might be extended but it is merely cyclical, he believes. Jefferies has a A$137.00 target price on the stock, which closed 3.2% lower at A$90.00. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 29, 2026 02:59 ET (06:59 GMT)
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