Shares in Fisher and Paykel Healthcare rallied by 8 per cent to hit their highest ever point today on the back of an earnings upgrade - the second in less than two months.

The company revised up its earnings forecast after receiving regulatory clearance to sell a new, full face obstructive sleep apnea (OSA) mask in the United States, which is the biggest market for the product.

Other factors came in to play.

Assuming a NZ/US dollar exchange rate of about 63 cents for the balance of the year, the company expects full-year operating revenue to be about $1.19 billion

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