Friday, July 15, 2011

Share Price Alert: Fisher & Paykel Healthcare Ltd

I wrote about Fisher & Paykel Healthcare Ltd [FPH.NZX] just five weeks ago and indicated I was interested in buying more shares and that investors should take note but be patient as they will get this share cheaper as there was a dividend coming at that time and there looked like there would be more pressure from a falling US buck.

5 weeks ago the stock was trading at $2.95 and as of writing the stock is trading intra day at $2.62. A 33c or around 10% drop in share price in 5 weeks. No great stock picking there, this was almost inevitable but as I said in June:

"FPH is a well managed company with a good history of increasing profits and revenue based on their manufacture and sale of high end, well sought after medical products that have high margins and a reputation for cutting edge technology which more often than not beats its competition".

At current prices this stock is paying a 6.58% gross dividend, so it is a high return in this investment environment and any investor buying now would get a relative bargain.

Like I said back in June though, be patient, I think this stock still has more downside and I am hoping for something under $2.40 to start buying.

Patience is a virtue.

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