Fisher & Paykel Healthcare Ltd [FPH.NZX] share price has had a bomb under it for the past couple of months.
It has gone from about $11.50 in Sept and just a couple of days ago it was trading at an all-time high of $13.88. At present it is trading at $12.60 on over 2m shares traded yesterday.
To be sure it is way overvalued and I personally wouldnt get involved in anything until approaching under 5 or 6 dollars and i'm waiting but unsure as to whether it will be approaching those levels anytime soon but i'll cross my fingers.
Fisher & Paykel will be added to the MSCI Index on Nov 30 so one could imagine that index watchers will be filling up soon - or perhaps they already have to a certain extent with very large volumes traded and they are international purchases.
To be sure the profit announcement some days ago had a deleterious effect on the share price - I don't know why, there were no surprises in the result and growth rates approaching 15% - perhaps shareholders were expecting more?
But once again i'm happy to continue holding with many, many patents to come through and increased spending on R and D keeping this shareholder more than happy.
Should you buy more hoping for a lift before next Thursdays inclusion in the MSCI Index?
If you want to take the chance and make a move before they do, you only have a week to go.
Good luck.
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