After a recent recovery, the Cochlear Limited (ASX: COH) share price has been a mild pleaser for investors. Although Cochlear shares ended the day down by 0.16% at $224.79, the hearing technology company is now up around 1% in 2022 so far, as well as up 3.4% over the past 12 months.
Over the past month, this ASX 200 healthcare share has gained a healthy 4.5%. Saying that, the company is still more than 12% below the all-time high of $257.76 that we saw back in August last year.
Cochlear's most recent earnings report seems to have been well received by investors too. Back in February, the company announced a 10% increase in sales revenue and a 26% rise in underlying profits to $158 million. Pleasingly for income investors, Cochlear also announced a 35% increase to its interim dividend to $1.55 per share. This saw investors give the Cochlear share price a boost at the time.
But now that we've passed the first quarter of 2022, what might be next for Cochlear? What does April hold for this famous brand in the medical space?
Is the Cochlear share price a buy in April?
Well, one ASX broker who is bullish on the Cochlear share price is Morgans. As my Fool colleague James covered last month, Morgans recently upgraded its rating on Cochlear to an 'add', with a 12-month share price target of $233.20. If that turns out to be accurate, it would mean Cochlear has a 3.7% or so upside left in the tank over the next year.
Here's some of what Morgans said on its buy recommendation:
"Cochlear maintains a dominant position in the implantable hearing solutions segment. While we continue to believe a full recovery from Covid-based disruptions still has time to play out, improving demand and strong pipeline, coupled with management's increasing confidence, is all suggestive of an improving earnings profile."
So that's pretty emphatic from one of the ASX's top brokers.
But we'll have to wait and see if its bullishness is justified over the next 12 months.
In the meantime, the current Cochlear share price gives this ASX 200 healthcare company a market capitalisation of $14.81 billion, with a dividend yield of 0.92%.
