Cochlear Limited [ASX:COH] shares bounced back 3.29% this morning after a poor performance to start the week. Cochlear, a leading hearing implant manufacturer, has seen its share price succumb to pressure from Bose’s entrance into the US market.
Cochlear shares had a good run since mid-2013 after the share price had fallen from a near record high. But today’s gain has helped to push the stock to a new record.
As soon as net profits were released, Cochlear’s share price spiked. But was it all down to their products or was there something else at play?