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NZ Company Update – Fisher & Paykel Healthcare

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Last Price: $26.10 NZD
Sector: Healthcare
Market Cap: $14.48Bn NZD

Company Description
Fisher and Paykel Healthcare is currently New Zealand’s largest listed company and is up an incredible 93.85% since the beginning of 2019. They are a global leader in medical devices and systems for use in respiratory care, acute care and in the treatment of obstructive sleep apnoea. Its products are sold to hospitals and healthcare facilities around the world through direct sales and a network of distributors.

What’s been going on?

F&P has held up incredibly well during the recent market sell off for two main reasons (beside the fact they are a top-quality company that investors are willing to pay a premium for). The first is that one of their product segments, respiratory humidifiers, are directly involved with treating patients with coronavirus. This had led to an increase in demand globally and they have ramped up their manufacturing output as a result. The second is that due to the majority of their sales being in US dollars and Euros, the weak NZD increases their profit. These two factors led to F&P upgrading the earnings guidance on the 17th March, an announcement made all the more impressive in today’s economic environment.

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