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Highlights

  • Pro Medicus develops and supplies software and IT solutions to the private and public healthcare sectors
  • In 1HFY24, PME’s revenue increased by 32.88% YoY to AUD 76.26 million
  • Hall (Anthony Barry) has the highest stake in the company with a shareholding of nearly 24.11%

Pro Medicus Limited (ASX: PME) is an ASX-listed heath imaging provider that creates and supplies healthcare imaging services and software to diagnostic imaging groups, hospitals and other related health entities across North America, Australia and Europe.

In the first half of the financial year 2024 (1HFY24), revenue of PME grew by around 32.88% YoY to AUD 76.26 million, backed by 36.8% YoY revenue growth in North America region. During the reported period, profit increased by 33.32% YoY to AUD 36.25 million, supported by topline growth during the period.

Net cashflow during the period stood at AUD 28.99 million and the firm continues to be debt free.

Top 10 shareholders of PME

The top 10 shareholders of PME have around 53.98% shareholding in the company. The highest stake in the firm is held by Hall (Anthony Barry) with a shareholding of nearly 24.11%.

Recent business update

Through an ASX update dated 2 April 2024, the company notified about the on-market buy-back of 10,442,488 shares.

On 1 March 2024, the company shared that under the March 2024 quarterly rebalance of the S&P/ASX Indices, PME was added to the S&P/ASX 100 index. This came int effect on 18 March 2024, before the opening of market.

Outlook

The company expects to surpass the 1HFY24 performance in the 2HFY24. The company intends to expand to Germany, North America and Australia, while assessing new opportunities in significant sectors such as integrated delivery networks, academic medical centres and corporate/private imaging centres, which are crucial areas in the healthcare industry.

Share performance of PME

PME shares closed 0.66% higher at AUD 107.92 million. Share price of PME increased by almost 70.84% in the past one year and has jumped 39.58% in the last six months.

52-week high of PME is AUD 111.885, recorded on 12 February 2024 and the 52-week low is AUD 58.600, recorded on 31 May 2023.

PME Daily Technical Chart, Source: REFINITIV

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 24 April 2024. The reference data in this report has been partly sourced from REFINITIV.