PARIS Findings Positive for New Medical Applications but Fisher & Paykel FVE Is Unchanged
Recently published findings from the Pediatric Acute Respiratory Intervention Study (PARIS) support a positive outlook for narrow moat Fisher and Paykel Healthcare. However, this is fully priced in and we consider the stock slightly overvalued at present. We maintain our fair value estimate for Fisher & Paykel Healthcare at NZD 11 per share (AUD 10, based on an Australian dollar/New Zealand dollar exchange rate of 1.11).The PARIS findings provide strong clinical support for the use of the f...
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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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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