Certain blue chip stocks remain quiet performers and are best suited for long term investment. Among these, best growth stocks to buy now are
Pro Medicus Ltd (ASX: PME)
Pro Medicus Ltd (ASX: PME), on 15 April 2025 entered a multi-year research collaboration with the UCSF to advance AI innovation in medical imaging. This partnership will utilize the Visage AI Accelerator platform, enhancing capabilities in data de-identification, curation, analysis, and integration into clinical workflows. The collaboration aims to drive clinical research and product development, with a focus on commercializing AI solutions tailored to real-world clinical needs. It also builds on PME’s existing agreement for the Visage 7 Viewer already in use at UCSF.
Pro Medicus, one of the top growth stocks, secured a 7-year, AUD $40 million contract with LucidHealth, a prominent U.S.-based radiology service provider. This deal will see the cloud-based Visage 7 platform replace LucidHealth’s legacy PACS across its 140 care sites and 300+ radiologists. The contract follows a transaction-based licensing model and includes phased deployment starting late 2025. This partnership expands PME’s footprint in the North American private healthcare and teleradiology market, demonstrating the scalability and demand for its Visage CloudPACS offering in large, distributed radiology networks.
For the half year ending December 2024, Pro Medicus achieved strong financial growth, through revenue of $97.2 million (up 31.1%) and net profit of $51.7 million (up 42.7%). The company remains debt-free, holding $182.3 million in cash and financial assets. It declared a fully franked interim dividend of 25 cents per share. Important contract wins during the period totaled over $365 million and included new deals with Trinity Health, Lurie Children’s Hospital, and Duly Health. Renewals and extensions added further value, including significant additions at Mercy Health, a leading Australian radiology provider, and archive expansions at Duke Health and NYU Langone.
WiseTech Global Limited
WiseTech Global's H1FY25 results highlight a company focused on growth and profitability. The company reported a 17% increase in total revenue, reaching $381.0 million, and an even more impressive 28% rise in EBITDA, amounting to $192.3 million. This financial performance underscores WiseTech is considered among high growth stocks because of its ability to expand its market presence while also improving operational efficiency, as evidenced by the 5-percentage point expansion in the EBITDA margin to 50%. A key driver of revenue growth remains the CargoWise platform, with a 21% increase in revenue, reflecting both successful customer acquisition, including significant wins with Nippon Express and LOGISTEED, and effective upselling to existing clients. These gains indicate WiseTech's strong competitive positioning and the increasing reliance of major logistics providers on its technology solutions. Moreover, WiseTech's commitment to innovation, with the launch of ComplianceWise and CargoWise Next and the ongoing development of Container Transport Optimization, signals a forward-looking approach to capturing future market opportunities. The company's strategic use of tuck-in acquisitions, such as BSM Global and ImpexDocs, to enhance capabilities in high-value areas like digital documentation, further demonstrates a proactive stance towards strengthening its product ecosystem and creating long-term value for investors.
WiseTech Global's financial discipline and operational execution are particularly noteworthy. The company's strong cash flow generation is a key indicator of financial health, with operating cash flow increasing by 24% to $202.7 million and free cash flow up by 22% to $124.1 million. This cash generation capacity supports both reinvestment in R&D, which increased by $20.6 million, to maintain a competitive edge, and shareholder returns, as demonstrated by the 31% increase in the interim dividend to 6.7 cents per share.
(Source: Company Announcements)
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