My thoughts too - FPH is effectively an exporter that reports in NZ$ and its main market is in US$ - a weak NZ$ should help it? (accepting that its more complex than than as it also makes product in Mexico). It does quite a bit of hedging so who knows if it has won or lost on these - its a zero-sum game at best!
One offs don’t count ..just normalise it like Fletchers …or The Warehouse
Not really a downgrade …so share price OK …...but punters might be thinking this is the beginning of a series of bad news …..recall, building depreciation impacting tax ….hint if property devaluations coming up …… what next I wonder?
”When investors are euphoric, they are incapable of recognising euphoria itself “
Fisher & Paykel has built multiple sustainable competitive advantages in the high-flow therapy market with its Optiflow product. These include:
Higher humidified flow rates than competitors. This allows gas in a patient's lungs to be removed and replaced with oxygen faster, therefore accelerating recovery. The tubing technology also provides better condensation management.
The generation of substantial clinical evidence using Optiflow.
An established, reputable brand, particularly in hospital ICUs.
High barriers to entry in the industry. It takes years to replicate the technology, and Fisher & Paykel continue to invest significantly in R&D which comprises a high single-digit proportion of their revenue. There is also incumbency with already installed devices."
From 24-7-24
This has been predictable,dependable & reliable ever since they listed.The rest is just noise.
"Heavyweight Fisher and Paykel Healthcare led the market upwards by increasing 68c or 2.65% to $26.30 after investment manager UBS upgraded the stock’s target price to $29.10, from $28.50.
Smith said the UBS report commented Fisher and Paykel had its strongest (obstructive sleep apnea) mask offering in a decade and upgraded its hospital revenue growth to 70% over the next five years.
“Investors are positive over the launch of its fourth mask (Nova Micro) in two years and they are fetching premium prices compared to competitors’ products. It all rolls into a new earnings growth story." https://www.goodreturns.co.nz/articl...or+10+Apr+2024
Bookmarks