New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

Fisher & Paykel Healthcare Corp / Equity Bottom-Up

<ul><li>We think the US respiratory data for the season to date is suggestive of F&amp;P Healthcare (FPH) reaching around the top-end of its guidance range.</li><li>This reflects: (1) our analysis of US flu hospitalisation trends in prior seasons (after peaking) as a proxy for the remainder of FPH's financial year, and (2) Europe flu data being well ahead of FPH's FY15 and FY17 reference points.</li><li>Somewhat offsetting this is weak COVID data, hence, with ~six weeks of elevated viral levels to come, we caution drawing firm conclusions. </li></ul>

We think the US respiratory data for the season to date is suggestive of F&amp;P Healthcare (FPH) reaching around the top-end of its guidance range.This reflects: (1) our analysis of US flu hospitalisation trends in prior seasons (after peaking) as a proxy for the remainder of FPH's financial year, and (2) Europe flu data being well ahead of FPH's FY15 and FY17 reference points.Somewhat offsetting this is weak COVID data, hence, with ~six weeks of elevated viral levels to come, we caution drawing firm conclusions. 

Fisher & Paykel Healthcare Corp

F&P Healthcare - Checking the Wards