Fisher & Paykel Healthcare shares plunge despite stellar profits

Fisher & Paykel Healthcare chief executive Lewis Gradon is unhappy he can't give analysts better guidance.

Thu, 27 May 2021

Fisher & Paykel Healthcare shares fell as much as 9.31% despite it reporting an 82% jump in annual net profit because analysts had been expecting even more.Net profit for the year ended March rose to $524.2 million from $287.3m the previous year, boosted by covid-related demand for its devices to aid breathing, but consensus analysts' forecasts were for $540m.The shares fell as low as $27.81, down $3.57, or 11.4%, from $31.38 yesterday and were recently quoted at $28.55.Throwing analysts' forecasts out was a weaker than expected fou...

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