Charging 6% higher today: What is happening with the Pro Medicus share price?

The Pro Medicus Ltd (ASX: PME) share price is storming higher in lunchtime trade on Wednesday. At the time of writing, the beaten-down stock is 6.08% higher at $114.72 a piece.

The uptick is welcome news for investors after the stock faced multiple headwinds over the past year, sending its share price crashing. For the year-to-date, Pro Medicus shares are now down 48.47% and they’ve shed a huge 59.54% over the year.

But it looks like the medical imaging technology stock has finally caught a break.

Why are Pro Medicus shares climbing higher today?

There is no price-sensitive news out of the company today to explain the uplift. 

But over the past 48 hours, the company has announced in a note to the ASX that three of its directors have increased their existing stake by purchasing additional Pro Medicus shares.

It is unlikely to immediately influence the share price, but it does raise a green flag for other investors and, in turn, can boost confidence in the company’s share price outlook.

What sent Pro Medius shares crashing over the past 12 months?

Pro Medicus has suffered several headwinds over the past year. The sector-wide tech sell-off and fear of AI disruptions late last year (and in early 2026) prompted many investors to flee the sector. 

At the same time, the stock rallied nearly 250% between early 2024 and mid-2025, prompting concerns that the shares were overpriced. After significant gains, it’s common for investors to lock in the profits and sell up, therefore pushing the price lower.

So what’s ahead for the stock this year?

Pro Medicus is a medical imaging technology provider for hospitals, imaging centres, and healthcare groups. It is a leading supplier of radiology information systems, picture archiving and communication systems, and advanced visualisation solutions for medical practices and hospitals. The ASX 200 share has offices in Australia, Germany, and the US.

It has a wide range of clients on long-term contracts too, and is continually expanding its presence worldwide. Earlier this month, the business won a new 5-year A$10 million contract with University Hospital Heidelberg (UKHD) and German Cancer Research Institute (DKFZ).

Earlier this month, it also posted its half-year results, which revealed strong financials and confirmed that it is gaining traction with long-term contracts, has strong earnings visibility, and a growing pipeline of major contract wins, all against a backdrop of radiologist shortages. 

Analysts are also incredibly bullish on Pro Medicus shares.

Out of 14 analysts, nine have a buy or strong buy rating on the stock. The average target price is $220.75, which implies a 92.71% upside at the time of writing. However, some think it could soar even higher to $300 a piece. That represents a potential 161.92% upside for Pro Medicus shares.

The post Charging 6% higher today: What is happening with the Pro Medicus share price? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.