Shares in Swiss hearing aid manufacturer Sonova Holding AG surged more than 6% in Zurich trading on Thursday, 23 July 2026, after the company reported second-quarter earnings that comfortably beat market forecasts and upgraded its full-year outlook. The stock was trading at CHF 285.40 by mid-afternoon, its highest level in over three months.
Sonova posted adjusted operating profit of €485 million for the quarter, up 12% year-on-year and ahead of the consensus estimate of €462 million. Revenue rose 9% to €2.1 billion, driven by strong sales of its latest wireless hearing aid models and continued expansion in the United States and Asia. Chief Executive Arnd Kaldowski said the company had seen 'exceptional demand' from both new and existing customers.
The upbeat news rippled through the European medtech sector. Danish rival Demant climbed 3.8%, while GN Store Nord added 2.9%. Analysts at Jefferies described Sonova's results as 'a clean beat on both top and bottom lines', adding that the raised guidance 'reinforces confidence in the structural growth story for hearing healthcare'. The Stoxx Europe 600 Health Care index rose 0.7% on the day.
For UK investors, the rally in Sonova shares underscores the global appeal of hearing aid stocks, which are seen as beneficiaries of ageing populations and increasing awareness of hearing loss. The FTSE 100 was flat on Thursday at 8,215 points, but several London-listed healthcare firms, including Smith & Nephew and Convatec, edged higher in sympathy. Pension funds with exposure to European equities may see a modest tailwind from the sector's strength.
Sonova now expects full-year revenue growth of 8-10%, up from a previous forecast of 6-8%, and raised its margin guidance by half a percentage point. The company will provide further details at its investor day scheduled for September. Analysts caution, however, that currency headwinds from a strong Swiss franc and potential supply chain disruptions remain risks to watch.