Fisher and Paykel Shares: Price, Forecast & Investment Guide

Fisher & Paykel Healthcare presents a split-screen reality for investors: the NZX-traded shares command NZ$37.02 while the ASX listing fetches $32.02 — a gap that reflects currency differences and dividend timing nuances most shareholders overlook. With a market cap of NZ$22.19 billion and a dividend payout ratio flagged at 1.37, this dual-listed medical devices stock demands more scrutiny than a quick price check allows.

ASX Last Price: $32.020 ·
NZX Price: $37.0200 ·
Market Cap NZX: NZ$22.19B ·
Shares Outstanding: 587.29M ·
Volume ASX: 390,915

What is the current share price?

Fisher & Paykel Healthcare trades on two exchanges simultaneously, which means investors need to check the right market for the right figure. The NZX listing (ticker FPH) serves as the primary reference point for most New Zealand investors, while the ASX listing (ticker FPH.AX) handles Australian-dollar transactions with different dividend schedules.

ASX price details

The ASX-traded shares closed around $32.020, with trading volume at approximately 390,915 shares per session. The ASX listing carries the ticker FPH.AX and does not include Australian franking credits — dividends flow in Australian dollars but without the franking benefit that Australian investors often seek from domestic listings.

NZX price details

NZX data shows FPH at approximately NZ$37.0200 with a gross dividend yield of 1.581% and a P/E ratio of 50.892. The NZX price has traded in a 2025 YTD range between NZ$31.80 and NZ$40.46, reflecting moderate volatility driven by currency movements and healthcare sector sentiment.

Recent trading volume

Volume on the NZX has shown steady interest, with daily trades consistently in the hundreds of thousands. The stock carries a beta of 1.45 relative to the broader market, indicating it tends to move more aggressively than the index — a factor that matters for investors assessing portfolio volatility.

The implication: New Zealand investors tracking FPH should anchor to the NZX price for tax and reporting purposes, but watch the ASX listing for dividend timing cues.

Is Fisher & Paykel a good investment?

Whether FPH fits a portfolio depends on what you are optimizing for — yield, growth, or defensive exposure. The stock occupies a specific niche as a pure-play hospital hardware manufacturer with strong brand recognition in respiratory care, which gives it pricing power but also ties performance to public health spending cycles.

Pros and cons overview

Recent performance factors

The stock underperformed relative to the ASX All Ordinaries index reflects broader headwinds facing medical device manufacturers, including reimbursement pressure in key markets and currency translation drag. However, the healthcare sector defensive characteristics mean FPH often attracts buying during market uncertainty.

The trade-off: FPH offers healthcare sector exposure with a proven dividend growth streak, but the valuation premium and payout sustainability concerns warrant careful position sizing.

What are the long-term prospects for FPH?

Analysts covering FPH have set a consensus target of NZ$41.80, representing roughly 8.46% upside from recent closing prices. The EPS forecast sits at NZ$0.79 for the next financial year, with individual analyst targets ranging from NZ$28.55 on the low end to NZ$44.84 on the high end.

Analyst forecasts

The range from analysts reflects genuine disagreement about the growth trajectory. Some analysts cite the five-year dividend growth rate of 10.20% as evidence of sustained operational strength, while others point to the elevated payout ratio as a constraint on future increases. The median forecast aligns closely with the current consensus target, suggesting the market is pricing in steady rather than explosive growth.

Growth outlook

Future dividend yield projections from financial modeling platforms suggest a band of 1.6-2.0% with growth rates in the 10.6-10.7% range and a payout ratio around 58%. The 5-Year Dividend Growth Rate of 10.20% reported as of September 2025 positions FPH among the faster-growing dividend payers in the healthcare equipment category, though investors should note this growth has come during a period of favorable healthcare spending.

What this means: FPH long-term case rests on continued hospital capital expenditure and the company ability to maintain pricing in respiratory and acute care devices. Any contraction in healthcare budgets would test the growth assumptions embedded in current forecasts.

Who owns Fisher Paykel now?

Fisher & Paykel Healthcare Corporation Limited has a diversified register spanning institutional and retail holders across New Zealand and Australia. The dual listing structure means ownership data must be tracked separately by exchange, with the NZX maintaining primary shareholder records for New Zealand purposes.

Major shareholders

Institutional investors hold the majority of FPH shares through custodians on both the NZX and ASX. The register includes New Zealand superannuation schemes, Australian fund managers, and international institutions with exposure to global healthcare names. The precise institutional breakdown updates quarterly as funds file their 13F and similar disclosures.

Ownership history

FPH has maintained steady institutional support since its separation from the broader Fisher & Paykel Appliances group. The healthcare company retained its focused business model while the appliances division followed a separate path, which allowed healthcare sector investors to build concentrated positions without exposure to consumer electronics volatility.

The pattern: FPH has evolved into a pure-play medical devices business with ownership concentrated among healthcare-specialist funds rather than diversified conglomerates.

What is the dividend for Fisher and Paykel shares?

FPH pays dividends semiannually, with the two dividend windows falling in June/July and November/December. The most recent payment of $0.197 per share occurred on December 18, 2024, and the next scheduled distributions include a 22.26¢ dividend with an ex-date of June 23, 2025 and payment on July 4, 2025, followed by a 16.52¢ dividend with an ex-date of December 3, 2025.

Dividend yield

The trailing twelve-month dividend yield stands between 1.33% and 1.58% depending on the listing and pricing source, which places FPH below the median yield for Australian-listed healthcare stocks but above the bottom quartile. The annualized payout of approximately 0.4565 reflects the company commitment to regular distributions despite the elevated payout ratio.

Payout history

Historical dividend per share growth has been steady, with 2.50% growth over the past twelve months and a three-year average of 9.20%. The 5-Year Dividend Growth Rate of 10.20% reported by GuruFocus demonstrates the company ability to increase distributions even during periods of sector consolidation. The TTM dividends per share of $0.2535 provides a baseline for forward estimates.

The catch: The dividend payout ratio of 1.37 has raised concerns among analysts monitoring dividend sustainability. While the company has maintained payments through operational strength, a ratio above 1.0 means the dividend currently exceeds normalized earnings — a situation that typically cannot persist indefinitely without either earnings growth or payout reduction.

“Analysts covering Fisher & Paykel Healthcare currently have a consensus Earnings Per Share (EPS) forecast of NZ$0.79 for the next financial year.”

— Stockopedia Analysts, Analysts

“The analyst consensus target price for shares in Fisher & Paykel Healthcare is NZ$41.80. That is 8.46% above the last closing price of NZ$38.54.”

— Stockopedia, Data Provider

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