Pro Medicus stock: Morgans upgrades Pro Medicus stock to Buy with AUD 230 target

Published on 10/22/2026 at 22:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fifteen analysts set a mean AUD 202.61 target on October 22, 2026. Pro Medicus stock costs EUR 120.79 on October 22, 2026 at 10:05 p.m. CEST.

Morgans target and contracts

Morgans upgraded its Pro Medicus rating to Buy and kept an AUD 230.00 target on October 21, 2026.
A seven-year Billings Clinic contract carries AUD 24.00 million of value.
Pro Medicus stock costs EUR 120.79 at Lang & Schwarz on October 22, 2026 at 10:05 p.m. CEST.
The annual meeting is scheduled for November 25, 2026.

Pro Medicus, AU000000PME8, Illustration mit AI erstellt.

Pro Medicus secured a fresh broker upgrade and an AUD 230.00 target from Morgans on October 21, 2026, while its euro quotation stood at EUR 120.79 at Lang & Schwarz on October 22, 2026 at 10:05 p.m. CEST. The Motley Fool Australia reported that Morgans upgraded its rating to Buy and kept the target unchanged at AUD 230.00.

Cloud contracts add operating evidence

The broker update followed a seven-year, AUD 24.00 million full-stack cloud contract with Billings Clinic Logan Health. The Motley Fool Australia reported that the deal was Pro Medicus's third new community health system win in fiscal year 2027, taking the cited total contract value to AUD 72.00 million and new annual recurring revenue to AUD 10.30 million.

MarketScreener listed 15 analysts in its consensus and an average target of AUD 202.61. Morgans' AUD 230.00 target is 18.91 percent above the ASX price of AUD 193.42 on October 22, 2026.

AUD 193.42 within the yearly range

Pro Medicus last stood at AUD 193.42 on the ASX on October 22, 2026 at 4:18 p.m. AEDT. The 52-week range was AUD 107.75 to AUD 286.76, while the market capitalization was AUD 20.2 billion and the price-to-earnings ratio was 76.15. The shares were down 12.43 percent year to date.

Valuation and November 25 date

The valuation places the stock well above the AUD 107.75 yearly low but below the AUD 286.76 high. The annual meeting is scheduled for November 25, 2026, according to Simply Wall St. Pro Medicus develops medical imaging software and services for hospitals, imaging centers and healthcare groups across Australia, North America and Europe.

What do the targets imply?

The spread between the Morgans target and the 15-analyst mean is AUD 27.39. That difference puts execution of the new contracts and the planned fiscal year 2027 rollout schedule at the center of the valuation discussion.

Euro quote after hours

At Lang & Schwarz, Pro Medicus was trading at EUR 120.79 on October 22, 2026 at 10:05 p.m. CEST. The Australian quotation was last AUD 193.42 on the ASX at 4:18 p.m. AEDT, keeping the two venue prices separate. The further course of trading is shown by the continuously updated real-time quote of Pro Medicus stock.