SYDNEY, June 25, 2026, 05:07 (AEST)
- Pro Medicus finished Wednesday at A$178.99, up 3.5%. Volume came in at 660,763 shares, almost double the usual average of about 338,000.
- S&P/ASX 200 closed up 0.24% at 8,808.4. Tech and healthcare shares led gains.
- ALS moved into the S&P/ASX 50 before trading started Monday, replacing Pro Medicus, which was dropped from the index.
Pro Medicus Ltd is trading Thursday after the medical-imaging software firm gained A$6.06 in the previous session. Normal ASX trade is set to open shortly before 10 a.m. in Sydney.
Tech stocks bounced back following an 8% drop over the last two sessions. Healthcare names traded higher too. Pro Medicus posted no fresh price-sensitive news on Wednesday. Its last filing is still the June 5 index rebalance notice.
The S&P/ASX 50 rebalance was implemented ahead of the June 22 session. Pro Medicus dropped out of the large-cap benchmark, with ALS moving in.
Pro Medicus updated the market on June 4 with news it renewed its five-year contract with Ohio State University Wexner Medical Center. The deal has a minimum value of A$16 million and includes workflow and cardiology products. CEO Sam Hupert said the renewal brings total financial-year renewals to A$141 million and “maintains our track record of client retention.” ASX Announcements
Three days ago, Visage Imaging, a unit of the company, landed a five-year renewal with Allegheny Health Network for A$28 million. The deal covers Visage 7 Workflow. Pricing is based on transactions, so payments will go up with more use. The contract comes with higher minimums and higher fees per transaction. “AHN has now renewed for a third contract term,” Hupert said. ASX Announcements
Visage landed a seven-year contract worth A$16 million with TidalHealth for its cloud viewer, workflow and archive tools, and cardiology imaging. TidalHealth plans to go live with the system in the first quarter of 2027. “Our pipeline remains strong and spans all market segments,” CEO Hupert said. Company Announcements
Pro Medicus posted A$124.8 million in revenue for the half-year to December, a gain of 28.4%. Underlying net profit after tax climbed 29.7% to A$67.3 million. Reported profit came in at A$171.2 million, boosted by a A$149.1 million pre-tax unrealised gain on its 4DMedical stake.
Sectra is still a major competitor in U.S. hospital-imaging software. In the two years through June 2025, KLAS Research said hospitals considered or picked Sectra more often than others. Visage was second in new-customer selections, not counting system migrations. KLAS also said some hospitals went with different products mainly because of cost.
But there’s a risk if Pro Medicus runs into delays on implementation or doesn’t get scan volumes up fast enough, especially with the stock price stretched. Shares are at A$178.99, which prices PME at almost 120 times FactSet’s forecast FY2026 earnings of A$1.49 a share. The average analyst target, per FactSet, is A$189.47, though estimates are all over the map from A$110 to A$245.
