FP Healthcare and a2 Milk weigh NZ shares down
The S&P/NZX 50 Index fell 96.64 points, or 0.8%, to 12,751.67. Within the index, 30 stocks fell, 13 rose and seven were unchanged.
A2 Milk dropped back 3.3% to $7.72 giving back much of the gain made over the past five trading sessions, which saw the stock break briefly above $8. Investors appeared willing to take that recovery as a selling opportunity
Fisher & Paykel Healthcare was also subjected to another wave of selling, down 2.2% at $33.80 today, and is now 7.3% below its year-to-date high of $36.46 on April 29.
Equity analysts have mixed views on the valuation of the healthcare exporter, Forsyth Barr has given it a 12-month target price of $32.50 which may be prompting some investors to sell.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
