Cochlear Product Recall Costs May Exceeed A$35 Million, UBS Says
Stock Chart for Cochlear Ltd (COH)
Cochlear Ltd. (COH)’s cost of voluntarily recalling its Nucleus 5 range of hearing devices because of a manufacturing glitch may exceed A$35 million, UBS said.
It’s too early to predict the product’s return to market and six months remains the “minimum estimate,” UBS Sydney- based health-care analysts Andrew Goodsall and Dan Hurren said in a report today in which they reiterated a “sell” rating on the shares.
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