Fisher & Paykel Healthcare (ASX:FPH, NZE:FPH) investors should focus on tariff impacts and consequences for the gross margin trajectory, sales growth, and any early-season flu read-through, ahead of the company's fiscal first-half results, according to a Thursday Jefferies note.

The investment firm added that with a warm winter predicted for the US, it is interested in early disease experience, noting that less than 5% of FPH's hospital business is typically due to seasonal effects.

Jefferies maintained its buy rating on FPH and raised its price target to NZ0$44.40 from NZ$40.90.

Fisher & Paykel Healthcare's Australian shares shed about 1% in recent Friday trade.