Sydney, February 15, 2026, 17:20 AEDT — Market closed.
- Pro Medicus (ASX:PME) last closed at A$118.22 on Friday, down 8.4%.
- The stock shed about 30% across two sessions after its half-year update.
- Traders are watching fresh broker notes and the Feb. 26 ex-dividend date on the 32 Australian cents payout.
Pro Medicus (ASX:PME) ended Friday at A$118.22, down 8.4%, extending a two-session rout after its half-year update. The radiology software maker has dropped about 30% since Wednesday’s close and traded about 1.46 million shares on Friday. (Intelligent Investor)
The slide has turned a single stock story into a broader one for local funds. Pro Medicus is a high-margin healthcare software name with a valuation that assumed little would go wrong, and the last two days tested that assumption.
With the ASX shut over the weekend, Monday’s open becomes the first real read on whether the selling was position-cleaning, or something stickier. Either way, it is now a stock to watch, not just a stock to own.
In its Thursday update, Pro Medicus said revenue from ordinary activities rose 28.4% to A$124.8 million and underlying profit before tax — which strips out investment revaluations — climbed 29.7% to A$90.7 million. Reported net profit after tax jumped to A$171.2 million, helped by unrealised gains on its investment in 4D Medical, and it declared a fully franked interim dividend of 32 Australian cents a share (fully franked dividends carry Australian tax credits). CEO Dr Sam Hupert said “Our profits continue to grow strongly” and that “Revenues will flow as each implementation comes on stream”, pointing to a pipeline of new hospital contracts with minimum values totalling more than A$280 million. (Company Announcements)
Brokers moved quickly after the result. Bell Potter cut its price target to A$240 from A$320, RBC Capital Markets lowered its target to A$190 from A$225, and E&P trimmed its target while keeping a neutral stance, according to Market Index’s round-up of broker moves. (Market Index)
Citi analyst Laura Sutcliffe said the A$125 million revenue line was “5 per cent below consensus estimates” and that underlying EBIT missed expectations by 14%, ShareCafe reported. (Sharecafe)
The move has also landed in a jittery tape for Australian “software-like” stocks. Market Index said names such as WiseTech Global and Xero have slid as global AI worries squeezed valuation multiples, making any earnings wobble harder to absorb. (Market Index)
There is a simpler downside case for Pro Medicus: implementations slip, revenue recognition gets pushed out, and the market keeps marking the stock down until it can see the next leg of contract go-lives in the numbers. Any hint that premium pricing is costing deals would add to the pressure.
Investors also have the dividend calendar on deck. The interim dividend is due to go ex-dividend on Feb. 26 — the cutoff for buying shares and still receiving the payout — with a record date of Feb. 27 and payment on March 20, S&P Capital IQ data showed. (MarketScreener)
