Sonova leads European hearing-care stocks lower after Cochlear warning

Demant A/S

22/04/2026 09:02

** Shares in Sonova SOON.S fall over 4%, leading a drop in sector peers after Australian hearing-implant maker Cochlear COH.AX cut its FY forecast, citing uncertainty and weaker demand tied to the Middle East war

** "While the generally more challenging market environment may also affect Sonova, the impact should be limited given the relatively small contribution of cochlear implants to Sonova's overall business," says Vontobel analyst Sibylle Bischofberger

** Cochlear implants account for around 8% of the Swiss hearing aid maker's group sales, the analyst says

** Elsewhere in the hearing-care sector, Amplifon AMPF.MI and Demant DEMANT.CO down over 2%, GN Store Nord GN.CO down 1.6%, following a 41% slide in Cochlear shares

** Softening cochlear demand in developed markets, reimbursement pressure in China, and Middle East-led disruption point to a weaker, more prolonged downcycle, Jefferies says

** Including Wednesday's loss, Sonova down over 14% YTD.

 (Reporting by Amir Orusov)

 ((Amir.orusov@thomsonreuters.com))