Pro Medicus and Washington H Soul Pattinson Share Prices in Focus

The Pro Medicus Limited share price has surged 68.4% since the start of 2024, attracting attention from investors interested in ASX growth stocks. Similarly, Washington HSoul Pattinson & Company Ltd is now just 6.7% away from its 52-week high, underscoring its continued performanceHere’s why both PME and SOL shares are worth keeping on the radar.  

Pro Medicus (ASX:PME)  

Founded in 1983, Pro Medicus is a prominent provider of radiology IT software for hospitals, imaging centres, and healthcare groups worldwideThe company offers a suite of products focused on radiology information systems (RIS), Picture Archiving and Communication Systems (PACS), and advanced visualisation solutionsThese tools streamline processes like patient scheduling, billing, and medical imaging interpretation.  

One of Pro Medicus’ standout offerings is its flagship software, VisageVisage enables radiologists to view large medical images, such as X-rays, remotely on mobile devicesThis innovation allows for quicker diagnostic decisions, which can significantly improve patient outcomes.  

Despite its significant market presence, Pro Medicus is still considered an ASX growth stockOne notable highlight is its impressive top-line revenue growth of 33.4%, which showcases its ability to expand rapidlyStudies have demonstrated that over a longer period, top-line growth plays a crucial role in stock performance, making Pro Medicus an intriguing option for long-term investors.  

Washington HSoul Pattinson (ASX:SOL)  

Washington HSoul Pattinson (WHSP) was founded in 1903 and remains one of the most stable and diversified investment companies on the ASXAs an investment house, SOL has a wide-ranging portfolio that spans several industries and asset classes, offering investors broad exposure.  

SOL holds substantial positions in a number of prominent publicly listed companies, including TPG Telecom (ASX:TPG), New Hope Group (ASX:NHC), and Brickworks (ASX:BKW)These holdings, among others, enable SOL to generate long-term capital growth while delivering consistent returns to shareholdersIts mission is to create sustainable capital appreciation alongside steadily increasing dividends.  

Washington HSoul Pattinson has a rich history on the ASXNotably, it has never missed a dividend payment since listing in 1903, making it the second-oldest publicly listed company on the exchangeThe long-term vision of SOL is to operate much like a family-run listed investment company (LIC), with a deep alignment between the management and shareholders.  

Pro Medicus Share Valuation 

Valuing a growth company like Pro Medicus often requires a different approach than with more established businessesOne common way to gauge its performance is through the price-to-sales (P/S) ratioCurrently, Pro Medicus has a P/S ratio of 104.93x, which is above its 5-year average of 85.76xThis indicates that the shares are trading at a higher valuation than in previous years.   

However, it's important to remember that valuation metrics are just one aspect of a company's overall performanceContext is key when making any long-term financial decision, as various factors can influence stock movements.  

Final Thoughts 

Pro Medicus (ASX:PME) and Washington HSoul Pattinson are two ASX-listed companies offering distinct opportunitiesPro Medicus continues to show robust growth within the healthcare tech sector, while SOL's diversified investment strategy and consistent dividend history provide a more steady, long-term approachBoth stocks offer potential for different types of investors looking for opportunities on the ASX in 2024.