Morgans upgrades Pro Medicus stock to Buy with AUD 230.00 target
Published on 10/27/2026 at 19:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst view and market levels
- Morgans upgraded Pro Medicus from Accumulate to Buy and retained an AUD 230.00 target on October 20, 2026.
- Fiscal 2026 revenue rose 22.90 percent to AUD 261.70 million.
- Pro Medicus stock costs EUR 124.90 at Lang & Schwarz on October 27, 2026 at 7:33 p.m. CEST, 1.48 percent below the Tradegate close of October 26, 2026.
Pro Medicus (AU000000PME8) stock has a new Buy rating from Morgans, which upgraded the shares from Accumulate while retaining an AUD 230.00 price target on October 20, 2026, as Newsmetry reported. Pro Medicus stock was trading at EUR 124.90 at Lang & Schwarz on October 27, 2026 at 7:33 p.m. CEST, 1.48 percent below the Tradegate close of October 26, 2026 at EUR 126.78.
Revenue growth stayed above 20 percent
The operating backdrop remains defined by the latest full-year figures. Fiscal 2026 revenue rose 22.90 percent to AUD 261.70 million, while underlying net profit increased 24.10 percent to AUD 144.70 million, according to The Motley Fool Australia on October 14, 2026. The comparison matters because the company is already valued on a high earnings multiple.
The Australian price range is wide
On the Australian Securities Exchange, Pro Medicus last traded at AUD 198.41 on October 27, 2026 at 4:11 p.m. AEDT. Its 52-week range was AUD 107.75 to AUD 283.89 on that date, while its market capitalization stood at AUD 20.7 billion. The stock therefore sits well above its yearly low but below its high, leaving contract execution and future growth central to the valuation discussion.
Valuation meets a November date
The trailing price-to-earnings ratio was 78.11 on October 27, 2026. Pro Medicus says its shares trade on the Australian Securities Exchange under the symbol PME and describes Visage 7 as the foundation of its medical imaging software platform. The company's 2026 annual general meeting is scheduled for November 25, 2026, according to the Market Index announcement dated October 1, 2026.
What the target means for the stock
Morgans' AUD 230.00 target is AUD 31.59 above the October 27 ASX price of AUD 198.41, equivalent to 15.92 percent above that price. The rating change gives the market a concrete benchmark, while the 78.11 multiple shows why each new contract and implementation milestone can carry valuation importance.
Euro trading after the Xetra close
At Lang & Schwarz, Pro Medicus stood at EUR 124.90 on October 27, 2026 at 7:33 p.m. CEST, 1.48 percent below the Tradegate close of October 26, 2026 at EUR 126.78.
The further course of trading is shown by the continuously updated real-time quote of Pro Medicus stock.
Pro Medicus stock facts
- Company: Pro Medicus Limited
- ISIN: AU000000PME8
- Ticker: PME
- Primary exchange: Australian Securities Exchange
- Price Lang & Schwarz (as of October 27, 2026, 7:33 p.m. CEST): EUR 124.90
- Change versus Tradegate close: minus 1.48 percent
- Tradegate close (October 26, 2026): EUR 126.78
- Market capitalization: AUD 20.7 billion (as of October 27, 2026)
- 52-week range: AUD 107.75-283.89 (as of October 27, 2026)
- Sector / Industry: Healthcare / Medical - Healthcare Information Services
Market context: Market report S&P/ASX 200.
