Fisher & Paykel Healthcare shares (ASX: FPH), a key player on the ASX 200, has recently demonstrated a solid performance that have seen the price hitting new 52-week highs in trading. At the close, the shares stood at a commendable $29.95, just shy of the intra-day peak of $30.32. Up almost 36% on a YTD basis, the stock has been unable to hold the $30 psychological resistance level a few times in recent days. A break and a hold above that level could yet signify an attempt for the bulls to take on the ATHs hit back in 2020.
The healthcare giant has reported a climb in its revenues reaching NZ$1.74 billion, coupled with a 6% uptick in net profits totalling NZ$264.4 million for the fiscal year 2024. The financial results reflect the company’s persistent growth and stability in the competitive healthcare market. In addition to its strong financial performance, Fisher & Paykel declared a significant dividend of 23.5 cents per share, culminating in a full-year dividend rate of 41.5 cents per share—marking a 2% increase from the preceding year.
Looking forward to the fiscal year 2025, Fisher & Paykel has set its sights on revenues in the range of NZ$1.9 billion to NZ$2 billion. If the forecasts hold true, the company’s net profit could surge to an impressive NZ$360 million at the guidance’s high end. This projection underlines Fisher & Paykel’s optimism about its future growth trajectory and its capacity to deliver value to shareholders.
However, the analyst community remains divided on the stock’s prospects, presenting a mixed bag of brokerage opinions. The consensus rating hovers around a ‘hold’, with two buy ratings, two holds, and two recommendations to sell, reflecting the diversified expectations and strategies in response to the company’s valuation. A consensus target of $27.50 currently indicates a potential downside according to the latest analyst numbers.
Fisher & Paykel Healthcare Corporation has some solid revenue and profit gains, which supported by optimistic future revenue and profit projections, appears the company may be poised for sustained progress, but set back against analyst targets that indicate potential downside. As always, any stock needs to be evaluated within the broader picture of your portfolio with your advisor when consider new additions, but this one might be worth a watch if it can sustain a break-out.
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