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Wednesday, 28 Nov 2018
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Cochlear – No skeletons in the closet. 

Why look at Cochlear? It has fallen considerably of late from an early September high above 22000c, to a recent low near 15500c. It is one of the many high PE names (like CSL, TWE, APT) that have unwound in general since the August high on the ASX 200.

Whilst COH was considered ‘overvalued’ at the top, the company has also had to endure a $377m patent judgment against it in the US. The quantum of the judgment was a shock, with COH having set aside an amount some 17 times smaller in anticipation of having to pay damages. The award in favour of the Alfred E. Mann Foundation for Scientific Research and Advanced Bionics is more than double an earlier judgment that was thrown out on appeal in

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