Fisher & Paykel Meets Expectations Bolstered by New Medical Applications
Narrow moat-rated Fisher & Paykel’s full-year results were in line with our expectations, though we raise our fair value estimate slightly to NZD 10.50 per share (AUD 10.00, based on an Australian dollar/New Zealand dollar exchange rate of 1.07) from NZD 10 largely due to time value of money. At current levels, the stock is trading broadly in line with our intrinsic assessment and is fairly valued, in our opinion.As expected, the key driver of the result was new medical applications, which ...
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.
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