A buy from The Bull.
"Reporting in May, Fisher & Paykel’s competitive advantage lies in the respiratory and acute care market where it enjoys a dominant market share. Its obstructive sleep apnoea device business has strong growth prospects, but FPH is a smaller player in this highly competitive market dominated by the likes of ResMed. Recurring revenue from high margin consumables accounts for 84 per cent of group revenue, which is a highly attractive aspect of this business."