Cochlear

Yesterday’s 16% share price rise for Cochlear shows just how desperately investors love this stock. But the wild enthusiasm seems misplaced, even though the announcement contained several snippets of good news relating to the recall of the Nucleus 5. The first is that Cochlear believes it has identified the problem with the manufacturing process; variations in a process called ‘brazing’ allow tiny cracks to develop at a later stage. But identification is only the first step in returning the device to market: Cochlear must now thoroughly test its manufacturing processes, conduct clinical trials, then wait for approval from regulatory...

Yesterday’s 16% share price rise for Cochlear shows just how desperately investors love this stock. But the wild enthusiasm seems misplaced, even though the announcement contained several snippets of good news relating to the recall of the Nucleus 5.

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