COH +2.18%: FY22 results from the hearing implant company missed the mark today, however, outlook comments helped to lift the share price. Revenue climbed 10%, however, profit fell 11% to $289m with margins being squeezed on surgery restrictions. The company noted a strong pipeline of sales and improving margins with new product launches expected to lift profit by around 10% in FY23, ahead of market expectations. They said all regions and products are performing ahead of pre-COVID levels.
MM is neutral COH ~$220
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