Pro Medicus – Buy

Pro Medicus is now under algo engine buy signals after rallying 40% from the original buy signal back in July.

The current retracement from $35 to $29 means investors should be watching the short-term momentum indicators for a turn higher and apply a stop loss on a break below support or a turn lower in the momentum indicators.

For more detail on the strategy, please call our office on 1300 614 002.

Pro Medicus – Buy

Pro Medicus is now under algo engine buy signals after rallying 40% from the original buy signal back in July.

The current retracement from $35 to $29 means investors should be watching the short-term momentum indicators for a turn higher and apply a stop loss on a break below support or a turn lower in the momentum indicators.

For more detail on the strategy, please call our office on 1300 614 002.

Pro Medicus – Buy

Pro Medicus is now under algo engine buy signals after rallying 40% from the original buy signal back in July.

The current retracement from $35 to $29 means investors should be watching the short-term momentum indicators for a turn higher and apply a stop loss on a break below support or a turn lower in the momentum indicators.

For more detail on the strategy, please call our office on 1300 614 002.

Pro Medicus – Contract Win

Pro Medicus is under Algo Engine buy conditions.

PME announced a $25m seven year deal with NYU Langone Healthcare, which has now followed the recent $22m 5 year deal with Northwestern Memorial Healthcare.

These deals provide further evidence of Pro Medicus’ acceptance among some of the largest hospital groups in the US.

The stock is expensive, but the growth story continues to look compelling.

Technically, we have seen a recent higher low with strong buying off the $24.50 level in Friday’s session.

Pro Medicus – Buy Signal

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.