|2 Year Fisher and Paykel Healthcare Chart
Fisher and Paykel just finished trading at $25.70 yesterday. Far off its high of $36.55c plus dividends but this isn’t the same company it was back 2 years ago.
Back “precovid” it was trading at NZ $1,273,400,000 of revenue on 30.3.20 and just a year latter on 30.3.21 it was trading at NZ $1,948,200,000.
In the same time profit went from a record $ NZ 287,000,000 to a record $ NZ 524,000,000.
It was trading at $30.43 on the same date.
It doesn’t take a genius to work out the figures and the notion that things have changed in that short year for the company. It’s just so much bigger. The figures reflect that.
Of course what makes share investing special is that as soon as news comes out that’s “detrimental” to the company, shares usually go off in a tangent – much like they did yesterday.
How much more downside there is I do not know. It could recover somewhat today or continue to drop. My bet is that it will continue to drop until the also rans are shaken out – the fly by nighters, we don’t need them!!
Until then I will be watching as much as you in case they become a buy for me again. I own the bulk of my holding at $2.16 a share. Since 2005.
c Shsre Investor 2022
Image and article originally from shareinvestornz.blogspot.com. Read the original article here.