Broker tips Fisher & Paykel Healthcare (ASX:FPH) share price to go even higher

The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price has been a very strong performer in 2020.

Since the start of the year, the medical device company’s shares have risen a remarkable 50%.

Why is the Fisher & Paykel Healthcare share price up 50% this year?

Investors have been scrambling to buy Fisher & Paykel Healthcare’s shares this year after the COVID-19 pandemic led to a surge in its sales and profits.

Yesterday, the company released its half year results and revealed a 59% increase in operating revenue to NZ$910.2 million and an 86% jump in net profit after tax to NZ$225.5 million.

This was driven by strong demand for its hospital hardware, particularly its Optiflow and Airvo systems. Traditionally, this nasal…