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Cochlear Ltd ASX:COH

1 opened or increased21 held3 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 25 managers in total.

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20252026

5 Dec 2024 to today

Commentary Showing 2 of 54

DateManagerActionSummary

31 Aug 2026Perennial PartnersHeldPerennial Partners continues to hold its position in Cochlear because the stock rose 11.7%, cited by the manager as another Healthcare name offering attractive long-term value after being aggressively sold down over the past year. Despite the share price weakness experienced previously, the manager regards Cochlear as remaining a global leader in a large and growing market with significant unmet patient demand, supporting its continued conviction in the holding.

Medical DevicesMonthly Report, price recorded $133.92

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31 Aug 2026ELM Responsible InvestmentsHeldELM Responsible Investments continues to hold Cochlear as a core position in the ANZ Conviction Fund without change, describing it as a global leader in implantable hearing solutions supported by significant unmet clinical need, an ageing population and growing recognition of the benefits of treating hearing loss. The manager notes FY26 sales revenue rose 2% in constant currency to $2.34 billion, with underlying net profit of $322 million at the upper end of guidance, despite lower gross margins from sales mix, manufacturing overhead absorption and foreign exchange. Revenue growth improved in the second half, cash generation strengthened, and management guides to low single-digit constant currency revenue growth in FY27 alongside underlying net profit of $330 million to $350 million. The manager cites Cochlear's global scale, specialist distribution network, installed base and innovation history as the foundation for long-term value creation, and will continue monitoring implant volume growth, pricing, margin recovery and new product adoption.

Monthly Report, price recorded $133.92

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52 more comments on COHPro shows every comment, with a link to each source document.

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Articles

About Cochlear Ltd

Healthcare, Healthcare Equipment and Supplies

Cochlear (ASX:COH), the hearing implant leader, has de-rated sharply after a profit warning, attracting some contrarian buyers. In July 2026, Elston Asset Management said the key debate centres on the discretionary nature of Cochlear's products, not economically but behaviourally, given lengthy rehabilitation after surgery. Australian Eagle noted a 40% fall in April after a 30% cut to FY26 profit guidance amid slowing developed-market demand and geopolitical headwinds. Perennial reported a 21% rebound, while Ten Cap and Cadence see value after the correction. Cochlear operates in the Healthcare sector within the Healthcare Equipment and Supplies industry, and Thesis Tracker has captured 52 comments from 24 fund managers, including Elston, Ten Cap, Cadence, Perennial and Australian Eagle. Founded in 1981 and headquartered in Sydney, Cochlear designs and manufactures cochlear implants, bone conduction and acoustic implant systems and sound processor upgrades, sold in more than 180 countries.

Market cap: $8.4b
Price to earnings: 62.7x
Return on equity: 8.0%
Dividend yield: 1.8%
Price to book: 5.29x
Net margin: 6.3%
52-week range: $88.74 to $296.50

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Cochlear Ltd (ASX:COH)?

Fund managers including ELM Responsible Investments, Ten Cap, Antares Capital, Selector Funds Management, Firetrail Investments, Elston Asset Management, Pendal Group, Blackwattle Investment Partners, Solaris Investment Management, Yarra Capital Management, Hyperion Asset Management, Ellerston Capital, Perennial Partners, First Sentier Investors, Regal Funds Management, Vinva Investment Management, ECP Asset Management, SG Hiscock & Company, Oracle Advisory Group, Milford Asset Management, Centennial Asset Management, ALC Capital, Cadence Capital, Australian Eagle Asset Management and Maple-Brown Abbott have invested in Cochlear Ltd (ASX:COH).

What opportunities or catalysts do fund managers highlight for Cochlear Ltd?

Ten Cap and Cadence see value after a major de-rating of a historically premium business, and Perennial notes a strong rebound as the market reassesses the long-term outlook.

What are the key risks to the Cochlear Ltd investment thesis, according to fund managers?

Australian Eagle highlights a 30% cut to FY26 profit guidance amid slowing developed-market demand and geopolitical headwinds, and Elston notes the discretionary nature of the decision to undergo surgery.

What does Cochlear Ltd (ASX:COH) do?

Cochlear Ltd. is a global leader in implantable hearing solutions. Founded in 1981 by Michael S. Hirshorn and headquartered in Sydney, Australia, the company provides medical devices to address hearing loss. Cochlear operates through four primary segments: Americas, EMEA, Asia Pacific, and Corporate and Other. The firm focuses on the design, manufacture, and distribution of advanced hearing technologies to improve patient outcomes worldwide.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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