How Did Pro Medicus (ASX:PME), 4DMedical (ASX:4DX), and Artrya (ASX:AYA) Perform as MedTech Stocks Surge on 5 November 2026?

Sonal Goyal

05 November 2026 06:16 PM AEDT

How Did Pro Medicus (ASX:PME), 4DMedical (ASX:4DX), and Artrya (ASX:AYA) Perform as MedTech Stocks Surge on 5 November 2026?

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Key Highlights

• Pro Medicus (ASX:PME) closed at A$208.23, surging 10.39%, as the company continues to win major radiology contracts globally.

• 4DMedical (ASX:4DX) closed at A$2.41, gaining 12.09%, following its Q1 FY27 quarterly activity report highlighting growing Revenue traction.

• Artrya (ASX:AYA) closed at A$3.50, up 4.79%, after releasing its quarterly activities report for the September 2026 quarter.

The S&P/ASX 200 (XJO) closed at 9,065.10 on 5 November 2026, up 2.61% or 230.60 points, while the S&P/ASX 200 Health Care index (XHJ) advanced 3.64%, adding 1,240.30 points to close at 35,329.10. The rally was underpinned by overnight Wall Street gains following the Democrats' decisive victory in the U.S. midterm elections, which buoyed global sentiment. Medical technology stocks were among the session's outperformers, with Pro Medicus Ltd (ASX:PME), 4DMedical Ltd (ASX:4DX), and Artrya Ltd (ASX:AYA) each recording notable gains.

Pro Medicus — Double-Digit Gains Continue

Pro Medicus Ltd (ASX:PME), a provider of enterprise medical imaging software and services, closed at A$208.23 on 5 November 2026, surging 10.39%. Pro Medicus develops and supplies the Visage platform, a thin-client radiology IT solution used by hospitals and health networks in North America, Europe, and the Asia-Pacific region.

The company reported its annual results in October 2026 and has continued to secure multi-year contracts with healthcare systems globally. Pro Medicus also announced a new contract with a major health system, further expanding its footprint in the North American market. The company's software-as-a-service model generates recurring revenue, and its transaction-based pricing means revenue scales with imaging volumes across its installed base.

4DMedical — Revenue Momentum Building

4DMedical Ltd (ASX:4DX), a medical technology company that has developed a patented respiratory imaging platform called XV Technology, closed at A$2.41, gaining 12.09%. The company released its Q1 FY27 quarterly activity report on 28 October 2026, highlighting progress in revenue generation and commercial adoption of its lung imaging technology.

4DMedical's XV Technology provides functional lung imaging that can detect ventilation defects at a regional level, offering clinical insights beyond traditional CT scans. The company has been expanding its commercial footprint in the United States and Australia, with installations across hospital and clinical networks. The Quarterly Report detailed cash receipts and operational milestones, including growing utilisation rates across its installed scanner base.

Artrya — Quarterly Update and Continued Development

Artrya Ltd (ASX:AYA), a medical technology company focused on AI-powered analysis of coronary artery disease, closed at A$3.50, up 4.79%. The company released its quarterly activities report for the September 2026 quarter on 26 October 2026.

Artrya's platform uses artificial intelligence to analyse cardiac CT scans, aiming to provide clinicians with faster and more detailed assessments of coronary artery disease. The company has been progressing its regulatory pathway and expanding clinical validation of its technology. The quarterly report included updates on cash position, operational activities, and progress toward commercialisation milestones.

Sector Context

The ASX medical technology sub-sector has increasingly attracted investor attention as companies at the intersection of healthcare and technology develop platforms with global scalability. Pro Medicus remains the sector's most prominent success story, with its Visage platform now embedded in some of the world's largest health systems. Smaller companies like 4DMedical and Artrya represent earlier-stage opportunities where commercial traction is still building. The S&P/ASX 200 Health Care index's 3.64% advance on 5 November 2026 provided a favourable backdrop for MedTech names, with technology-adjacent healthcare stocks benefiting from the broader risk-on environment.

Looking Ahead

Pro Medicus, 4DMedical, and Artrya each represent different stages of the MedTech growth trajectory. Pro Medicus's 10.39% gain reflects its established market position and Recurring Revenue model, while 4DMedical's 12.09% advance signals growing investor confidence in its commercial rollout. Artrya's 4.79% rise accompanied its quarterly update as the company continues to build its regulatory and clinical evidence base. All three companies are leveraging technology to address unmet needs in medical imaging and diagnostics.

FAQs

Q: What does Pro Medicus do?

A: Pro Medicus develops and supplies the Visage platform, an enterprise medical imaging software solution used by hospitals and health networks for radiology workflows globally.

Q: What is 4DMedical's XV Technology?

A: XV Technology is a patented respiratory imaging platform that provides functional lung imaging, enabling clinicians to detect ventilation defects at a regional level beyond what traditional CT scans offer.

Q: What stage of development is Artrya at?

A: Artrya is a medical technology company developing an AI-powered platform for coronary artery disease analysis. The company is progressing through regulatory pathways and clinical validation.

Q: How did these MedTech stocks compare to the broader healthcare index?

A: All three outperformed the XHJ's 3.64% gain, with 4DMedical up 12.09%, Pro Medicus up 10.39%, and Artrya up 4.79% at the close on 5 November 2026.

Q: What drove the ASX rally on 5 November 2026?

A: The rally was supported by overnight Wall Street gains following the Democrats' decisive victory in the U.S. midterm elections, which provided a tailwind for global equity markets including the ASX.

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