08/12/2025 09:45

Chart of the Week – Pro Medicus Ltd (PME)

It’s not just tech stocks that have struggled this FY, the “Certainty Trade” as it was labelled into June has largely been hammered from CBA to JB Hi-Fi. Another example is Pro Medicus (PME) which soared higher into June, ignoring valuation concerns, only to tumble ~28% in FY26 even as it continues to win new contracts but an Est. 164x valuation for FY26 its valuation remains daunting with rates set to increase.

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16/10/2025 09:33

Pro Medicus Ltd (PME) $292.40

PME bounced back +1.9% on Wednesday after correcting 16% over recent months. In very similar fashion to CBA this momentum play lost support and fell away as the “hot money” went for the exits.

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16/09/2025 09:44

Pro Medicus (PME) $294.14

Despite its name this medical imaging software and IT solutions business is far more tech than healthcare to MM. However, it’s in the healthcare sector and does again demonstrate the recent weakness in the space, having retreated over 12% from its July high.

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12/08/2025 09:04

Pro Medicus Ltd (PME) $304.77

PME is an Australian healthcare technology company that develops and supplies medical imaging software and services to hospitals, diagnostic imaging groups, and healthcare providers worldwide - it's more of a tech than a healthcare stock.

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10/04/2025 09:37

Pro Medicus Ltd (PME) $188.14

We have discussed health imaging technology company PME several times in recent months, delivering the same message: it's an exciting growth stock but too expensive.

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01/04/2025 09:30

Pro Medicus Ltd (PME) $199.79

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27/02/2025 09:20

Pro Medicus Ltd (PME) $273.19

Recently, we have seen several high-flying stocks pullback after reporting, even after delivering solid reports,  the market was priced for more and crowded momentum trades can often produce sharp corrections, especially at the pointy end of town where valuations are lofty:

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13/02/2025 16:54

Pro Medicus Ltd (PME) $279.78

PME -3.2%: We saw it recently with JB Hi-Fi (JBH) and CAR Group (CAR),  a stock priced for “perfection” needs to knock it out of the proverbial park when it reports, or profit-taking follows, especially at the pointy end of town in terms of valuations and how crowded the position has become.

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13/02/2025 09:27

Pro Medicus Ltd (PME) $288.31

This is undoubtedly a great business, but a few quiet months in terms of new deals could easily see another $25-30 pullback. We’ve already witnessed three in less than 18 months. MM has written this a bit lately, but we don’t like the risk/reward towards PME into new highs.

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04/12/2024 09:34

First Up

After yesterday's close, China Investment Corporation (CIC) launched a massive $1.9 billion selldown of market darling Goodman Group (GMG). Citi’s equities desk was looking to place 50.4 million GMG shares or about 2.6% of the company; to put things into perspective, only 3.7 million shares exchanged hands on Tuesday.

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