Sydney, Feb 18, 2026, 18:18 (AEDT) — Market closed
Pro Medicus Ltd PME.AX ended Wednesday down 2.35% at A$123.00, a pullback after yesterday’s rebound. The stock fluctuated from A$122.21 to as high as A$130.00. Over the past year, PME.AX has traded between A$113.67 and A$336.00.
Pro Medicus, a name that’s often pointed to as a growth barometer, is taking a hit. Shares have tumbled about 43% since the year began, and they’ve shed around 27% from last week’s close, according to numbers from Intelligent Investor.
The S&P/ASX 200 climbed 0.54% to close at 9,007, led by gains in tech stocks, according to MarketIndex. Pro Medicus ended lower, as investors stayed wary of expensive software and healthcare tech shares after recent choppy earnings reports.
Anthony Glenning, serving as a non-executive director, bought 2,080 shares on the open market at A$119.81 apiece, a filing dated Feb. 16 shows. The purchase was made back on Feb. 13.
Deena Shiff, a non-executive director, bought 788 shares on the market at A$126.67 apiece on Feb. 13, the filing showed.
Moelis kept its “hold” call on Pro Medicus, yet chopped its target price down to A$141.04 from A$325.82 after the company’s half-year results, according to a broker note Tuesday. The broker pointed to contract timing and currency moves as the main factors affecting the short-term view. FNArena.com
Revenue from customer contracts reached A$124.8 million for the six months ended Dec. 31, up from A$97.2 million in the prior period. “Underlying” profit before tax—excluding fair-value movements and currency effects—came in at A$90.7 million. Statutory profit after tax was A$171.2 million, buoyed by a fair-value gain of A$149.1 million tied to a 4D Medical-related debt instrument. Pro Medicus pointed out that this valuation remains highly sensitive to the underlying share price. Company Announcements
Pro Medicus pitches its Visage 7 imaging platform—a PACS tool hospitals rely on to store and review scans. The stock’s been swept up with the recent AI-driven sector moves. “Caught up in the wash even though we are in no way involved in infrastructure,” CEO Sam Hupert said to reporters on Feb. 12, calling the business “a capital-light, software-only model.” Company Announcements
The board has approved an interim dividend of 32 Australian cents a share, fully franked, the company said in its latest notice. Shares trade ex-dividend on Feb. 26. Payment lands March 20.
Downside risk hasn’t gone anywhere. Pro Medicus trades as if flawless execution is a given, but contract start dates and usage figures are hardly locked in. As for those mark-to-market investment gains—they can vanish in a hurry.
Traders are watching to see if the post-results rebound can hold, and whether further broker target shifts emerge after last week’s drop. The Feb. 26 ex-dividend date is the next key event.
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