Pro Medicus stock names new director as shares fall 2.92 percent on October 2, 2026

Published on 10/04/2026 at 18:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Pro Medicus stock added Tim Reed to its board effective October 1, 2026, as the company builds its cloud imaging platform. FY2026 revenue rose 22.9 percent to AUD 261.7 million.

Pro Medicus, AU000000PME8, Illustration mit AI erstellt.

Pro Medicus stock (ISIN AU000000PME8) was last at AUD 156.38 on the ASX on October 2, 2026, after the company added Tim Reed as an independent non-executive director effective October 1, 2026. MarketScreener reported that Reed brings more than 30 years of technology, strategy and investment experience.

Board experience meets cloud expansion

Reed led MYOB as chief executive from 2008 to 2019 and later served as co-managing director of Potentia Capital, according to MarketScreener. His appointment fits Pro Medicus's focus on scaling Visage 7, a medical imaging platform designed for hospitals, imaging centers and healthcare groups.

Pro Medicus says its Visage suite spans radiology information systems, picture archiving, communications, artificial intelligence and e-health services, with offices in Melbourne, Berlin and San Diego. Its shares trade under PME on the Australian Securities Exchange, according to the Pro Medicus investor page.

FY2026 growth supports the case

Fiscal year 2026 revenue reached AUD 261.7 million, up 22.9 percent from the prior year, while underlying net profit after tax rose 24.1 percent to AUD 144.7 million. The underlying EBIT margin was 74.9 percent, and the company signed 10 new contracts worth AUD 407 million while renewing six contracts valued at AUD 141 million, according to Motley Fool Australia.

The comparison explains why the stock still commands attention despite its recent decline. Pro Medicus combines double-digit revenue growth with a 74.9 percent underlying EBIT margin, but the share price remains 50.55 percent below its 52-week high of AUD 316.26.

Consensus stays above the market price

A 15-analyst consensus carries a Buy rating and an average 12-month price target of AUD 202.47, which is 29.47 percent above the AUD 156.38 reference price, according to Stock Analysis. Investing.com lists the target range at AUD 60 to AUD 250.

Pro Medicus stock stays below its yearly high

Pro Medicus stock was last at AUD 156.38 on October 2, 2026, on the ASX, down AUD 4.71 or 2.92 percent from the prior session. Its market capitalization was AUD 16.3 billion, with a 52-week range of AUD 107.75 to AUD 316.26.