Shares in the manufacturer and distributor of implantable hearing devices, Cochlear Limited (ASX: COH) are at an all-time high – opening up 1.3% today to sit at $185.24, after an intra-day high of $187.99 yesterday.
Cochlear has operations in more than 20 countries and distributes products across America, Asia, Europe the Middle East and Africa.
Cochlear shares have been flying in the last 12 months, up from $130.55 at this time last year, with the stock outperforming a 2017 Citi analyst's price target of $160 by $25.24 per share at the current price.
Cochlear released its half year results on February 13, reporting a sales revenue increase of 6% to $639.6 million and NPAT of $110.8 million, down 1%, with a one-off $5.5 million impairment flagged from the revaluation of deferred tax assets.
With FY18 profit guidance of $240 million -$250 million expected to be maintained and an 8% increase in interim dividend logged it will likely take something special to knock Cochlear from its pedestal.
