SYDNEY, Feb 24, 2026, 18:20 AEDT — The market has closed.
- Pro Medicus slipped 6.2% to finish at A$108.15, hitting a new 52-week low in the process
- Tech shares took the hardest hit, as worries over AI-fueled upheaval kept investors on edge.
- PME’s 32-cent interim dividend is grabbing attention, with traders watching the Feb 26 ex-dividend date.
Pro Medicus Ltd dropped 6.2% to A$108.15 Tuesday, pushing the stock toward the lower end of its 52-week range as the selloff in expensive software stocks continued. Shares changed hands between A$107.75 and A$114.34.
Australia’s information technology sector tumbled 3.5% on the day, with some local analysts dubbing it a “tech wreck” amid concerns over potential AI shakeups. Xero dropped 4.6%, Life360 was down 4.4%. Telix Pharmaceuticals and Pro Medicus also took heavy hits among large caps. Market Index
The S&P/ASX 200 barely budged, closing at 9,022—off just 0.04%—as resource stocks managed to balance out pressure on growth and healthcare shares.
Pro Medicus shares took another hit Tuesday after a rough Monday. The stock ended Feb. 23 at A$115.30, down 8.86% for the session, snapping a stretch where investors had favored it as a defensive growth pick.
Dividend watchers have their eyes on Pro Medicus, which is set to go ex-dividend on Feb. 26 for an interim distribution of A$0.32 per share. The record date falls on Feb. 27, with payment scheduled for March 20. This dividend comes fully franked, providing shareholders with Australian tax credits.
The company posted revenue from ordinary activities of A$124.8 million on Feb. 12, marking a 28.4% increase. Underlying profit before tax climbed 29.7% to A$90.7 million. Net profit after tax came in at A$171.2 million, a jump driven by unrealised gains from its investment in 4D Medical, according to the statement.
Management isn’t keen to lump itself in with the AI infrastructure cycle. During the results interview, chief executive Sam Hupert put it plainly: “Ours is a capital-light, software-only model. If anything, we will be the beneficiaries of the infrastructure funded by others.” Company Announcements
Even so, tech sentiment remains sour. The S&P/ASX 200 Tech Index is hovering at its lowest since late 2023, according to the latest data. On local desks, traders are awaiting the next batch of heavyweight earnings to help set the tone.
Still, there’s no guarantee the dividend will provide support. Should the wider software sell-off drag on—or if “AI disruption” keeps spooking investors into dumping risk before looking closer—Pro Medicus could remain under pressure, news or no news.
Now, attention shifts to PME’s pricing ahead of Thursday’s ex-dividend date. Traders are also eyeing results from other big ASX growth names, gauging whether sentiment drifts toward high-multiple software or moves in the opposite direction.
