Pro Medicus has switched to buy conditions after correcting from the $30 high back in May, to $24 in yesterday’s trading.
INTERIM FINANCIAL REPORT FOR THE HALF-YEAR ENDED
31 DECEMBER 2019. 1H20 revenue increased 15% to $29m and underlying profit before tax jumped 45% to $15m, (compared with $10m for the previous corresponding period).
PME is a high growth business, trading on a lofty PE of almost 100x earnings. Watch for the short-term momentum indicators to turn positive within the $22 – $25 price range.