Cochlear Ltd (ASX: COH) shares looked to be finding their feet last week. Not anymore.

The hearing implant leader slipped 2.3% to $124.49 during Wednesday morning trade, putting the brakes on what had been an impressive recovery.

The stock had rallied around 10% last week and is still up 28% over the past month. That’s no small feat after suffering one of the biggest share price collapses on the ASX this year.

But before investors start celebrating, it’s worth remembering the bigger picture. Cochlear shares remain down 52% in 2026 and have lost almost 60% over the past 12 months.

So, is today’s weakness simply a pause after a strong rebound, or are investors being reminded why the shares fell so hard in the first place?

A reality check

It’s easy to forget just how brutal April was. On 22 April, Cochlear dropped a trading update that landed like a lead balloon.

Demand for hearing implants across developed markets came in below expectations. Then, to make matters worse, conflict in the Middle East disrupted shipments and triggered order cancellations.

Management didn’t just trim guidance; it took a chainsaw to it. The company cut its FY26 underlying net profit forecast from $435 million to $460 million down to just $290 million to $330 million.

The market’s response was swift and ruthless. Cochlear shares plunged more than 40% in a single trading session as investors suddenly questioned whether one of the ASX’s highest-quality healthcare companies had lost its mojo.

Since then, the debate has been simple: was this a nasty bump in the road or the start of a much tougher journey?

The bull case hasn’t disappeared

Here’s the thing. Cochlear’s long-term competitive position hasn’t suddenly vanished.

The company still controls around half of the global cochlear implant market, making it the clear industry leader. That leadership has been built over decades through research, innovation, and close partnerships with surgeons and hospitals around the world.

Those advantages are incredibly difficult for rivals to replicate.

The growth runway for Cochlear shares also remains enormous. More than six million people across developed markets are estimated to be eligible for cochlear implants, yet only around 3% have received one.

That leaves plenty of room for future growth as awareness increases, diagnosis rates improve, and hearing technology continues to evolve.

What do the experts think?

Brokers aren’t exactly pounding the table, but neither are they rushing for the exits.

According to TradingView data, most analysts currently rate Cochlear shares as a hold. The average 12-month price target is $127.33, only about 3% above the current share price. In other words, the market thinks the easy money from the recent rebound may already have been made.

That said, there are still plenty of optimists. Six of the 18 analysts covering Cochlear rate the healthcare stock as either a buy or strong buy. The most bullish forecast sees the stock climbing another 38% over the next year.

On the flip side, two brokers recommend selling, with the lowest target price sitting at $95, implying a downside of roughly 23%.

The post Cochlear shares are slipping again. Is the comeback already over? appeared first on The Motley Fool Australia.

More reading

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• ASX healthcare shares have jumped 21% since June. Can the recovery continue?
• 3 ASX shares down at least 50% in FY26
• Healthcare shares lead the ASX 200 again as sector rotation gathers pace

Motley Fool contributor Marc Van Dinther 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.

The IperionX Ltd (ASX: IPX) share price is in focus after the company announced it has priced an underwritten public offering of 2,275,000 American Depositary Shares (ADSs), raising nearly US$50 million before costs. The funds will support expansion of IperionX’s titanium production technologies and R&D activities.

What did IperionX report?

• Priced public offering of 2,275,000 ADSs at US$21.98 per ADS
• Gross proceeds of approximately US$50 million (before costs)
• Offering led by US institutional investors
• Funds to be used for commercialising titanium and alloy technology, plus site expansion
• Expected closing date: 9 July 2026 (subject to conditions)

What else do investors need to know?

Each ADS will represent 10 ordinary IperionX shares, with the total 22,750,000 shares to be issued from the company’s existing placement capacity under Listing Rule 7.1. The capital raise is being managed by Cantor as sole bookrunner, with Roth Capital Partners and B. Riley Securities acting as co-managers.

Net proceeds from the offer will be directed towards advancing the scale-up and expansion of IperionX’s Virginia Titanium Manufacturing Campus, furthering its titanium metal research, and developing the Camden-Titan Project in Tennessee. Extra funds will go towards general corporate purposes.

What’s next for IperionX?

With fresh funding, IperionX plans to accelerate the commercialisation of its proprietary titanium technologies and continue building out its production capabilities in the United States. The company sees these investments supporting its goal to become a key producer of high-quality, lower-cost, and more sustainable titanium alloys.

The outlook includes ongoing expansion at core US sites and increased R&D to enhance process efficiencies. Management also flagged continued focus on developing the Camden-Titan Project and supporting general business initiatives.

IperionX share price snapshot

Over the past 12 months, IperionX shares have declined 7%, trailing the S&P/ASX 200 Index (ASX: XJO), which has risen 1% over the same period.

View Original Announcement

The post IperionX launches US$50m capital raise for titanium expansion appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

QBE Insurance Group Ltd (ASX: QBE) shares are pushing higher on Wednesday after the company released a senior leadership update.

At the time of writing, the QBE share price is up 2% to $25.49. By comparison, the S&P/ASX 200 Index (ASX: XJO) is down 0.8% to 8,737 points.

The move adds to a strong recent run for the ASX insurance stock, which is now up around 12% over the past month and 28% since the start of 2026.

Here’s what the company told investors.

Senior leader to retire

In a statement to the ASX, QBE said Sue Houghton has advised the company of her intention to retire.

She will step down from her role as Chief Executive Officer for Australia Pacific at the end of 2026.

Houghton has been with QBE for more than 5 years and has spent over 35 years working across financial services.

The Australia Pacific business is one of QBE’s 3 main divisions, sitting alongside North America and International.

Group Chief Executive Andrew Horton said Houghton had made a strong contribution to QBE over the past 5 years and helped the Australia Pacific business improve its performance, capability, and customer outcomes.

He said:

On behalf of the Board and Executive Leadership Team, I thank Sue for her contribution and leadership and wish her every success in retirement.

Houghton will remain in the role while QBE begins a search for her replacement.

What is really moving QBE shares

A senior leadership change could have taken some heat out of QBE shares, but investors seem comfortable with the way this one is being handled.

The stock was already moving higher before the update, with investors backing the insurer after a solid start to 2026.

QBE has been getting support from stronger underwriting, premium growth, and steady demand for large defensive financial stocks.

The timing of Houghton’s exit is also helping. She is staying in the role until the end of 2026, which gives QBE plenty of time to find a replacement and manage the handover.

Can QBE shares keep climbing?

After a 26% gain in 2026, QBE shares have already had a strong run.

But I wouldn’t say the run looks finished just because the stock is near its 52-week high.

The leadership change should be manageable, especially with Houghton staying on until the end of next year.

If QBE keeps underwriting well and claims don’t blow out, I think investors will be happy to stick with it.

The post QBE shares surge again as $37 billion insurance giant faces leadership change appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.