Cochlear chief executive Chris Smith predicted a slowdown in the hearing implant maker's profit growth this year but said July sales were ahead of forecasts and "we see the momentum continuing".

The mixed messages helped send Cochlear's shares on a rollercoaster ride on Tuesday. The stock sank 5 per cent early to $122.11, recovered after Mr Smith and finance chief Neville Mitchell briefed analysts to be down about less than 1 per cent at $127.73 just after midday and then closed the session 3 per cent lower for at $125. Cochlear stock hit a high of $132.73 in July.