I think I may well find a home for the $16,000.00 in dividends gained from the Share Investor Portfolio in the 2010 calender year. I am pretty bloody excited about it.
That stock is Fisher & Paykel Healthcare Ltd [FPH.NZX] and it is on my radar again because the stock has taken a plunge over the last month or so. This is primarily based on the weak US dollar having an impact on profit. Earlier this week its first half 2011 profit result showed a dip in fortunes because of the forex impact but US dollar sales increased markedly and commentary by management indicate increasing sales revenue and as a result of that manufacturing capacity is being increased to keep up with demand.
The profit drop wasn't well received by the market and the stock has dropped by 20c since the announcement and looks to be headed further south as short term investors seem to be indicating that they expect the US dollar to remain weak for some time.
This is not going to last forever though and investors would be wise, if FPH has been on their buy list, to consider putting the stock on their watchlist and look closely for further weakness in share price.
As I said a couple of weeks ago, I am interested in a sub $2.50 purchase price and think that is entirely possible given overall market uncertainty and continued weak US dollar.
Disclosure I own FPH shares in the Share Investor Portfolio
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