Shares of Pro Medicus Ltd (PME.AU), an Australian health imaging firm, plummeted 5.02% in Thursday's trading session following a report from Jefferies that revised down the company's near-term growth forecasts.

The brokerage firm cited the stepped minimum nature of the Trinity contract as a key factor in their decision to adjust Pro Medicus' growth projections. Jefferies also trimmed its estimates for the company's cardiology contribution, resulting in a reduction of the implied market share increase to 14% in FY26, down from the previous estimate of 15%.

Despite these downward revisions, Jefferies maintained its A$250 price target on Pro Medicus and kept its 'Hold' rating unchanged. This suggests that while near-term expectations have been tempered, the long-term outlook for the company remains relatively stable in the brokerage's view. It's worth noting that Pro Medicus' stock has already been under pressure this year, with shares down 9% year-to-date prior to today's decline.