Fisher & Paykel Healthcare enjoys a dominant position in respiratory and acute care.
We still see the risk-reward proposition as skewed to the downside for Fisher & Paykel, with shares trading at a 20% premium to our unchanged NZD 11.00 (AUD 10.00) fair value estimate. Fisher & Paykel's fiscal 2018 net profit after tax, or NPAT, of NZD 190 million was broadly in line with our NZD 188 million estimate. The 4% miss on the revenue line was largely offset by solid EBIT margin improvement to 27.5% for the year, up from 26.8% a year ago and beating our 26.3% forecast, aided fu...Fisher & Paykel Healthcare, together with its subsidiaries, is a designer, manufacturer and marketer of medical device products and systems for use in respiratory care, acute care and the treatment of obstructive sleep apnea (OSA). Co.'s respiratory and acute care products include heated humidifier and respiratory products that are used in the treatment of a variety of medical conditions which interfere with normal respiration. Co.'s OSA products include the continuous positive airway pressure (CPAP) therapy devices, which is used in the treatment of OSA. CPAP is delivered through a mask attached to a flow generator device which generates airflow and enough pressure to keep the airway open.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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