PME.AX Pro Medicus down 29% at ASX close 13 Feb 2026: key levels

PME.AX stock plunged 29.49% to A$118.22 at the ASX close on 13 Feb 2026, marking one of the biggest single-day drops for Pro Medicus Limited (ASX). Trading volume surged to 1,455,611 shares, almost 4.60 times average, as the market assessed a strong half-year result alongside large fair-value gains. The sell-off reversed recent momentum: the 50-day average is A$204.50 and the 200-day average is A$268.41, highlighting an abrupt re-rating in the Australian healthcare software leader.

PME.AX stock: market reaction and trade data

The session closed with Pro Medicus Limited (PME.AX) at A$118.22, down A$49.44 from the prior close of A$167.66.

Volume spiked to 1,455,611 versus an average of 245,275, giving a relative volume of 4.60 and signaling institutional activity.

Earnings, report drivers and recent news

Pro Medicus reported H1 profit and revenue growth and recorded A$149.04 million in fair value gains, lifting statutory net income to A$171.22 million for the half, according to the Nasdaq/RTT News summary source.

Despite the strong results and a declared interim dividend of A$0.32 per share, the market sold the stock hard, likely reacting to valuation compression and profit-taking after a multi-year rally. For broader market context see the live price feed and company news on Investing.com source.

Fundamentals and valuation snapshot for PME.AX stock

Key fundamentals show EPS A$1.10 and a trailing P/E of 117.27, which left the stock exposed to a sharp re-rate after the shares moved higher in prior years.

Pro Medicus carries a market cap of A$13,476,625,227, strong cash per share of A$2.00, and a current ratio of 6.49, supporting balance-sheet resilience despite the valuation disconnect.

Technical view and short-term support

Technical indicators show the stock is oversold: RSI 29.53 and CCI -111.85, with MACD negative at -9.39.

Immediate technical support sits near A$110.00 and resistance near the 50-day average A$204.50; ATR is A$7.18, implying larger daily moves while the market digests fresh earnings and flows.

Meyka AI grade, model forecasts and valuation note

Meyka AI rates PME.AX with a score of 79.19 out of 100 — Grade B+ (BUY). This grade factors in S&P 500 and sector comparisons, financial growth, key metrics, analyst signals and forecasts.

Meyka AI’s forecast model projects a monthly price of A$118.66, a quarterly target of A$320.18 (+170.87% vs A$118.22) and a 1-year projection of A$355.28 (+200.50% vs A$118.22). Forecasts are model-based projections and not guarantees.

Risks, catalysts and sector context

Primary risks include valuation sensitivity (PE 117.27), revenue concentration in key contracts and foreign-market execution for enterprise imaging products.

Catalysts that could stabilise the stock: stronger-than-expected contract signings, continued margin expansion, and confirmation of recurring revenue growth in enterprise imaging within the healthcare sector, where median PE is about 31.06.

Final Thoughts

PME.AX stock’s 29.49% drop at the ASX close on 13 Feb 2026 reflects a sudden market re-rating after a strong H1 that included sizeable fair-value gains. Fundamentals remain robust — EPS A$1.10, cash per share A$2.00, current ratio 6.49 — but the premium P/E of 117.27 leaves shares vulnerable to profit-taking. Meyka AI’s grade (B+; score 79.19) flags long-term strength against short-term volatility. Our model shows a near-term monthly level around A$118.66 and a longer-term one-year projection near A$355.28 (implied upside 200.50% versus A$118.22). These model outputs are not guarantees; investors should watch daily volume, contract updates and any changes to recurring revenue guidance before re-entering positions. For active traders, monitor support near A$110.00 and resistance at the 50-day average A$204.50.

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Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.