- Health ministry to release the latest update about the Omicron outbreak
- Healthcare stocks did well due to the surge
- FPH was up in today’s trading session
According to a report released by the ministry of health on Thursday, there are 9,047 new community cases of COVID-19 in the Omicron outbreak, resulting in 13 deaths.
A total of 484 people are in hospitals with the virus and 15 are in ICU. NZ-based seven-day rolling average case number (7,705) is said to be lower than the same day last week.
Against this backdrop, let’s examine how these four healthcare stocks are doing.
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Fisher and Paykel Healthcare Limited (NZX:FPH)
Fisher & Paykel Healthcare is a leading manufacturer, designer and marketer of products and systems for use in acute and chronic respiratory care. Recently, it provided its revenue guidance for the financial year ended 31 March where it said that it expected the operating revenue for FY22 to be between NZ$1.675 billion to NZ$1.70 billion. CEO Lewis Gradon said that the Company expected hospital consumables revenue to be in the same band as the first half of FY22.
In the Homecare product group, sales of OSA masks are likely to be above the first-half growth despite supply constraints of treatment hardware in the market.
On 28 April, the stock was trading down by 1.86% at NZ$21.26, at the time of writing.
PEB is a company that is into cancer diagnostics. In its March investor update, it revealed that its Dunedin clinical laboratory is likely to be completed by April end. The new lab which is located in its office in the Centre for Innovation provides space for the expected increase in test volumes and new technologies for cancer diagnostics. Dr Peter Meintjes who was appointed as the CEO of the Company is considering many changes including bringing in molecular diagnostics as the Company moves to the next stage of development.
In November, the Company reported strong growth momentum when its revenues grew 66% to NZ$6.7 million and cash receipts increased by 110% to NZ$5.4 million.
On 28 April, the stock was trading down by 1.14% at NZ$0.870, at the time of writing.
TruScreen Limited (NZX:TRU)
TRU is a company that provides cancer screening solutions. The Company recently announced that a China-based cervical cancer screening trial validated the superiority of TRU’s screening method. Chinese Obstetricians and Gynaecologists Association (COGA) completed a detailed screening trial and concluded that TRU’s screening methods were superior to other methods. It validated the TruScreen method to be simple, effective and a rapid real-time method to screen cervical cancer.
Related Read: Why to look at 4 NZX-listed pharma stocks in 2022?
On 28 April, the stock was trading down by 1.39% at NZ$0.07, at the time of writing.
Bottom Line: Healthcare stocks have been generally performing well during the COVID-19 Omicron spread. However, some have performed better than others.