Monday, September 4, 2017

Fisher & Paykel Healthcare: Where is it Going?

Fisher & Paykel Healthcare Ltd [FPH.NZX] is starting to look a wee bit expensive. 

Granted it does have the potential to be the largest stock on the index if it keeps going - its about 3 or 4th at present - but it will be headed for a breakdown if it disappoints this November.

Like I said in a previous post the market seems to have largely discounted legal problems so the reason for the recent share price increase seems to be put down to one or two major reasons.

The first is institutional buying. There appeared to be a sizable chunk transacted last Fri Sept 1. Almost 1 million shares. Again a sizable chunk of well over 2m shares traded in June by Northcape Capital to take their stake in FPH to 5.1%.

The second is insiders - management, directors etc - taking up stakes or taking up options or indeed disposing of same.

There is a lot of activity surrounding share trades.

There appears that a 5% rise over the last 7 days is something this share hasn't seen especially given the record high share price.

It seems the momentum is towards the upside at least for the time being - see the explanation for this in paragraph 2.

I truly don't know where we are heading with this stock, it is way too pricey and I wouldn't be buying at current prices.

All I  can think is that insiders are getting together to get in a good position that a possible buy could be on the cards.

They would have to offer me north of 50 bucks a share to get rid of this one right now and it would get more expensive as time wore on.

I don't really want to sell.

Fisher & Paykel Healthcare @ Share Investor

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