Sydney, June 22, 2026, 02:07 (AEST)
- Pro Medicus closed Friday at A$172.80, rising 3.1%. Shares were up 5.4% for the week.
- About 1.33 million shares changed hands, roughly 4.5 times the usual volume.
- Medical-imaging software firm drops out of the S&P/ASX 50 ahead of Monday’s open.
Pro Medicus Ltd is coming off a solid week, with shares closing Friday at A$172.80, up A$5.19. Investors are looking at the company after its exclusion from the S&P/ASX 50.
Turnover jumped, sending a clearer signal. Passive funds that track indexes might sell when a stock drops out. Pro Medicus traded higher despite heavy volume, which points to buyers taking on a chunk of the shares for sale. It’s not clear from Friday’s trading how much more selling could hit on Monday.
Health-care stocks outperformed on Friday as the S&P/ASX 200 slipped 0.92% to 8,828.70. The sector gained 3.51%, even with the broader market in the red. The index still managed a 0.28% gain for the week.
That sector shift suggests index factors weren’t the only thing driving the move. Pro Medicus is still down almost 49% from its 52-week peak at A$336, despite bouncing back lately, showing just how far the stock has fallen from investor hopes for fast growth.
Pro Medicus is still seeing solid demand. This month, it signed a five-year, A$28 million renewal with Allegheny Health Network and picked up a seven-year, A$16 million contract with TidalHealth. Both agreements are transaction-based. Revenue depends on how much customers use the service, with set minimums in place. CEO Sam Hupert called the Allegheny deal “the strength of our long-standing partnership.”
Pro Medicus (PME.AX) has locked in over A$400 million in total contract value in the financial year, CEO Sam Hupert said in a company interview. He described the pipeline as “very strong.” On Trinity Health, Hupert said the big rollout is “100% on schedule.” Most revenue from the new installs will come after fiscal 2027, he said.
Pro Medicus reported first-half revenue up 28.4% to A$124.8 million and a 29.7% lift in underlying profit before tax to A$90.7 million. Underlying operating margin came in around 73%. The company stayed debt-free with A$221.8 million in cash and other financial assets. Net profit for the period was A$171.2 million, but that number was boosted by a pre-tax unrealised gain of A$149.1 million on its 4DMedical stake—a paper gain that can move until the asset is sold. Underlying net profit was A$67.3 million, which the company says gives a better read on how the business performed.
Mach7 Technologies dropped 1.6% to A$0.315 on Friday, missing out on the gains seen by some other Australian imaging firms. The move suggests Pro Medicus’ contract news and activity around the index had more influence than a broad rush into imaging software stocks.
Monday’s session is still up in the air. Some heavy index selling may have finished on Friday, but leftover passive-fund orders could weigh on the open. Any hold-up in US launches, slack in medical scan bookings or less demand for high-multiple growth names would hit shares. The stock is far from its 52-week high, showing sentiment can turn fast.
