NZX 50 falls as F&P Healthcare slips

The S&P/NZX 50 fell 33.31 points, or 0.3%, to 13,041.30. Turnover was $125 million.

Fisher & Paykel Healthcare – which alone comprises 13% of the benchmark – had a particularly significant impact as it fell 2.6% to $31.60, after climbing 4% last week.

Forsyth Barr gives the stock a target price of $32 per share and expects a sharp drop in revenue in the manufacturer’s half-year report later this month.

Increased vaccination rates in key markets have been reducing the number of hospitalisations and likely resulting in hospitals holding plenty of hardware stock, analysts said last month.