0039 GMT - Cochlear's decision to cut manufacturing and accelerate restructuring should help support margins, but the outlook remains unclear, according to Macquarie analysts. They are positive on the hearing-implant maker's decision to shrink manufacturing output by more than the fall in sales, telling clients in a note that this will reduce inventory. However, they warn that hearing care has been deprioritized by U.S. consumers and European healthcare systems, and see the risk that weak consumer sentiment could also weigh on processor upgrade volumes. Macquarie cuts its target price 52% to A$115.00 and stays neutral on the stock, which is down 1.1% at A$98.51. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 22, 2026 20:39 ET (00:39 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.