Every Australian medical professional and investor would know Cochlear Ltd (ASX: COH).
Its broad range of hearing devices has helped many Australians lead better lives, for many decades.
Looking towards the future, however, Cochlear continues to present as the compelling investment opportunity it did when it first started life over 30 years ago.
The release of new products, which take advantage of the rising usage of communications technology; an aging population and rising prosperity are just some of the long-term tailwinds helping Cochlear to grow.
For investors, Cochlear's international exposure is also a huge benefit. The company generates some 84% of sales revenue outside Asia Pacific, with 43% from the Americas alone.
Reporting in US dollars, Cochlear shareholders will benefit from favourable exchange rate movements and the ongoing strength of the US economy.
Moreover, Cochlear continues to invest around 16% of sales in research and development, with product integration with smart devices like mobile phones and microphones presenting exciting ways for the company to grow sales revenue over the long-term.
What's it worth?
According to my calculations, despite its 22% rally in share price over the past year Cochlear remains a sound long term investment at today's prices.
With shares down almost 5% in the past month, savvy investors could be well-served in taking advantage of the market's volatility to snap up some Cochlear shares of their own – with its 2.6% dividend yield a nice bonus.
