ASX 200-listed Pro Medicus Limited (AU:PME) shares touched a new 52-week high of AU$110.41 today following the launch of its imaging technology for Apple’s (NASDAQ:AAPL) Vision Pro spatial computing platform. The company’s Visage Ease VP technology is designed to leverage Apple Vision Pro’s unique capabilities to provide “immersive, spatial experiences” for diagnostic imaging and multimedia.
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Pro Medicus is an Australian health imaging technology provider. The company’s U.S. subsidiary, Visage Imaging Inc., has developed the Visage Ease family of applications, specially built to support Apple’s ecosystem. Its earlier products, Visage Ease (for iOS/iPadOS) and Visage Ease Pro (iPadOS), are already popular. The latest Visage Ease VP software is designed for the Visage 7 enterprise imaging platform.
Details About Visage Ease VP
The launch of Visage Ease VP opens the potential for numerous possibilities in medical imaging and the healthcare sector.
Pro Medicus also stated that the Tier 1 academic medical centre, UC San Diego Health, will be the first customer to experience this new technology. The centre will explore how the use of this technology can improve three-dimensional medical imaging to enhance patient care, especially in tumour board reviews.
What is the Forecast for Pro Medicus?
Following the news, Jefferies analyst Wei Sim lifted the price target on PME stock to AU$120 from AU$82. The analyst also upgraded the stock to Buy from Hold, citing the potential of the game-changing technology in the diagnostic space. Having said that, Sim believes that the financial benefits of the Visage Ease VP will be limited in the short run.
Overall, with two Buys, one Hold, and two Sell recommendations, PME stock has a Hold consensus rating on TipRanks. The Pro Medicus share price forecast of AU$74.13 implies 32% downside potential from current levels. PME shares have gained over 61% in the past year.
