The Cochlear (ASX: COH) share price is up 4% this last week

It’s been a good recovery week for shares in the hearing device manufacturer.

| More on:
Medical staff wear hero capes, indicting strong shar [price performace for healthcare shares

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Cochlear Limited (ASX: COH) share price is having a great start to the new month after struggling through a less than ideal August.

Cochlear shares fell 4.97% over the course of last month, with the biggest catalyst for the drop being the company’s financial year 2021 earnings.

Fortunately, Cochlear’s stock ended August and started September on an upward trajectory. It has gained 4.47% over the course of this week.

Right now, the Cochlear share price is trading at $237.10, gaining 1.96% today alone.

Let’s take a look at what’s been happening lately.

What’s up with Cochlear this week?

Shares in the hearing device manufacturer appear to be recovering after a poor month’s performance in August.

It has pulled itself up by the bootstraps this week after posting lower than expected profits for the 2021 financial year and less than satisfactory guidance for the financial year 2022.

As The Motley Fool Australia reported at the time, despite the company reporting profits inside its previously given guidance, it fell short of the market’s expectations.

The Cochlear share price suffered as a result, falling 7.4% on the day it posted its earnings results. The following week, shares in the company continued their downwards trajectory, falling another 4.3%.

The market hasn’t heard any fresh news from Cochlear since. However, investor confidence in the ASX healthcare giant appears to have rebounded and its shares are recovering the lost ground.

Cochlear share price snapshot

The Cochlear share price has performed well on the ASX this year.

Including this week’s upturn, it has gained 24% since the start of 2021 and is 20% higher than it was this time last year.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Healthcare Shares

A doctor appears shocked as he looks through binoculars on a blue background.
Broker Notes

Goldman Sachs gives its verdict on the CSL share price

Where next for CSL's shares?

Read more »

Healthcare Shares

Mayne Pharma share price rockets 25% on $680 million payday

It's been a good day for the ASX pharmaceutical company.

Read more »

Two researchers discussing results of a study with each other.
Healthcare Shares

What’s with the Polynovo share price on Wednesday?

Shares in the ASX medical devices company hit their year to date high today before retreating again.

Read more »

A man in a wheelchair stretches both arms into the air in success.
Healthcare Shares

Imugene share price lifts 11% on clinical trial update

Imugene shares are flying higher today.

Read more »

Two scientists in a Rhythm Biosciences lab cheer while looking at results on a computer.
Healthcare Shares

Why is the Polynovo share price powering 6% on Tuesday?

A government grant is set to boost the medical devices company's production capability.

Read more »

A young woman slumped in her chair while looking at her laptop
Healthcare Shares

Mesoblast share price slides 8% following $65m capital injection

Mesoblast took a hit early in the session today.

Read more »

Medical technicians wearing white medical coats conduct a test in a laboratory.
Healthcare Shares

CSL share price climbs as $16 billion Vifor acquisition becomes effective

CSL shares are in the green on Tuesday...

Read more »

A man wearing a white coat holds his hands up and mouth open with joy.
Healthcare Shares

‘Excited about the pipeline’: Why Wilson says the CSL share price is in the buy zone right now

Could the CSL share price rise?

Read more »