$FPH

RBC Capital Markets upgraded five ASX-listed healthcare stocks to outperform, citing positive earnings growth and attractive valuations. CSL (ASX: CSL) was highlighted for market share gains, with a $213 price target. ResMed (ASX: RMD) was noted for capital management, with a $262 target. Ramsay Healthcare (ASX: RHC) was praised for cost control, with a $68 target. Fisher & Paykel (ASX: FPH) showed strong growth, with a $52 target. Nanosonics (ASX: NAN) had mixed results but a $3.75 target.

CSL, Ansell, and Ramsay led the ASX healthcare sector's strong August performance, with gains of 40%, 23.2%, and 16.2% respectively. The sector's total return index rose 44.1% from its June low, outperforming the broader market. Analysts are cautiously optimistic about FY27, but concerns remain about valuation and sustained growth.

New Zealand's S&P/NZX 50 index rose 1.1% on Monday, ending August with a 1.6% monthly gain. Gentrack led gains with a 31% surge after board changes, while Fisher & Paykel Healthcare rose 9.1%. Westpac Banking Corp fell 8.1%. Investors rebalanced portfolios, with Auckland Airport seeing heavy trading. Asian markets were muted, and oil prices climbed after US-Iran tensions.

New Zealand's S&P/NZX 50 index fell 0.7% as Chorus declined 5.3% after its earnings outlook missed expectations, while Fisher & Paykel Healthcare rose 1.6% following upgraded price targets. Infratil dropped 2.1%, and SkyCity Entertainment Group surged 9.9% on potential takeover interest. Asian markets also declined, led by Alibaba's 9.8% drop.

Fisher & Paykel Healthcare upgraded its 2027 guidance, citing strong hospital product sales. Revenue and net profit forecasts increased, with first-half revenue expected at $1.24B and net profit at $280M. The stock closed at $43.52. On Wall Street, the Dow fell 1.32% as bond yields rose and Walmart missed earnings. In NZ, several companies reported earnings, including South Port NZ and Seeka.

Fisher & Paykel Healthcare (FPH) provided first-half FY27 guidance, expecting $1.24B revenue and $280M net profit, up 14% and 24% respectively. Full-year outlook raised to $2.47B-$2.57B revenue and $525M-$565M net profit, including $23M in tariff refunds. Growth driven by strong demand and clinical practice changes.

Rene Almendras withdrew his nomination for a First Philippine Holdings Corp. (FPH) board seat, citing personal circumstances and saying he was grateful to non-Lopez family minority shareholders who backed him. FPH said he declined due to circumstances limiting his ability to commit. The Sept. 25 meeting still has 17 nominees for 15 seats.

First Philippine Holdings (FPH) said it rejected KKR’s non-binding bid to buy FPH’s 8.43% stake in First Gen and launch a voluntary tender offer for First Gen’s 11.67% public float at P35 per share. FPH said the proposal does not reflect First Gen’s true value and ended its participation. FPH shares fell P1 to P102; First Gen fell P3.50 to P27.20.

KKR emailed First Philippine Holdings (FPH) and First Gen Corp. on July 10 with a three-step plan, disclosed in an Aug. 13 letter to the PSE. KKR would buy 8.43% of First Gen from FPH, then buy the 11.67% public float, and seek delisting. KKR says any change-of-control deal would trigger a mandatory tender offer and a control premium at least 30% above its offer price (about P46 vs ~P35).

New Zealand shares rose 0.6% after an RBNZ inflation survey supported expectations of falling inflation. Two-year swap rates fell 5 bps. S&P Global lifted NZ GDP forecasts to 2.4% (2025) and 2.5% (2026). ANZ shares rose after Q3 results; housing data showed softer demand.