Investors knock $1b off F&P Healthcare valuation

Thu, 27 May 2021

New Zealand's main share index slumped as investors reacted poorly to Fisher & Paykel Healthcare’s full-year result which failed to meet the high expectations priced into the stock. The S&P/NZX 50 Index fell 104.1 points, or 0.8%, to 12,243.34. Within the index, 27 stocks fell, 16 rose and 7 were unchanged. The index has fallen more than 8% this year. F&P Healthcare has been doing extraordinarily well during the pandemic as the exporter supplies hospitals around the world with equipment needed to treat covid-19.T...

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