Cochlear Ltd (ASX: COH) shares are slightly higher in Thursday lunchtime trade.
At the time of writing, the shares are up around 0.3% and are changing hands for $118.77 a piece.
The increase means Cochlear shares have now jumped around 23% over the past month alone.
It's a step in the right direction, and investors would be pleased. But there is a long way to go before the ASX healthcare stock returns to levels seen earlier this year.
For the year-to-date, Cochlear shares are still down around 55%, and they're also around 61% lower than 12 months ago.
The question now is, can they keep climbing higher?
Here's what the experts think.
Are Cochlear shares a buy, sell or hold?
It looks like the experts are divided about the outlook for the healthcare company's shares over the next 12 months.
Market Index data shows that the majority of brokers have a hold rating on the stock. The $137.10 target price implies a potential 16% upside ahead, at the time of writing.
TradingView data shows something similar. The majority (11 out of 18) have a hold rating on the shares, but another six have a strong buy rating.
The average $127.33 target price implies a potential 7% upside at the time of writing.
There's a huge range between the minimum and maximum target price, however. Some forecast the shares to drop another 20% to $95 a piece. Meanwhile, others tip a 43% upside to $170 over the next 12 months.
Niv Dagan from Peak Asset Management has a sell rating on Cochlear shares. He said that the hearing implants maker materially reduced its fiscal year 2026 underlying profit guidance in response to weather than expected demand, lower margins and foreign exchange headwinds.
He added that hospital capacity constraints amid softer consumer sentiment and reduced referral activity are weighing on implant volumes. Meanwhile cost base restructuring is likely to impact earnings in the near term.
Christopher Watt from Bell Potter is a little more bullish. He has a hold rating on the shares and thinks that despite near-term trading challenges, the long term opportunity for this hearing implants maker remains compelling. Overall he thinks that until there's clearer evidence that volumes are stabilising, a more balanced stance is appropriate.
What could drive Cochlear shares higher?
It's been a difficult year for the medical hearing implant device company. Cochlear has endured several significant headwinds, including a sector-wide rotation away from ASX healthcare shares this year.
But in my view, Cochlear is still a strong, globally dominant business, and its long-term outlook is intact. I think the previous sell-off was overdone and that the share price could keep climbing.
The post Cochlear shares have jumped 23% in a month: Is there more upside ahead? appeared first on The Motley Fool Australia.
Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Cochlear. The Motley Fool Australia has recommended Cochlear. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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