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Oct 22, 2026
Mayank Bansal
Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.

3 ASX Names in the Spotlight: Power Delays, a Major Imaging Deal and a Growing Stake

3 ASX Names in the Spotlight: Power Delays, a Major Imaging Deal and a Growing Stake Source: Kapitales Research

Highlights

  • Setbacks to grid upgrade works have led one company to cut its FY27 financial guidance sharply.
  • A leading investment group has lifted its voting power in an ASX-listed employee benefits business to 7.32%.
  • A healthcare software provider has landed a seven-year, AU$43 million agreement with a US health system.

Overview

Investors turned their attention to three ASX-listed companies after announcements covering operational setbacks, a shift in substantial shareholdings and a new contract. The updates span data centres, employee benefits and healthcare software. The data centre and healthcare software news came out on 21 October 2026, while the substantial holder notice relates to transactions that took place on 6 October 2026.

Market Snapshot

  • NEXTDC Limited (ASX: NXT) is trading at AU$5.75, up AU$0.40 or 7.48%.
  • Smartgroup Corporation Ltd (ASX: SIQ) is trading at AU$12.25, up AU$0.63 or 5.42%.
  • Pro Medicus Limited (ASX: PME) is trading at AU$193.42, up AU$8.59 or 4.65%.

NEXTDC Trims Guidance on Power Supply Hold-Up

On 21 October 2026, NEXTDC said delays to electricity network works serving its M3 data centre in Melbourne had forced it to revise its FY27 outlook. Distributor Jemena paused portions of the required works because of community opposition and pending local council consent, pushing the next step-up in grid supply out to FY28.

For FY27, the company has lowered its net revenue forecast to AU$475 million–AU$500 million, down from its earlier projection of AU$615 million–AU$640 million. Underlying EBITDA guidance has been cut to AU$245 million–AU$265 million, from the earlier AU$385 million–AU$410 million, and capital expenditure guidance has fallen to AU$4.5 billion–AU$5 billion.

Even so, NEXTDC reported AU$8.675 billion in liquidity at 30 September 2026 and confirmed it is meeting its financial covenants. The company is directing spending towards capacity already contracted by customers while it reviews discretionary outlays.

Macquarie Lifts Its Smartgroup Stake

Smartgroup lodged a notice showing a change in the interests of Macquarie Group Limited and its controlled entities. The change took place on 6 October 2026, and the notice was signed on 9 October 2026.

Macquarie Group’s voting power rose from 6.18% to 7.32%, with the votes attached to its relevant interests increasing from 8,541,779 to 10,078,434. The filing lists the holdings of several Macquarie entities. It updates the market on the group’s position but does not explain why the stake grew or suggest a takeover proposal.

Pro Medicus Wins AU$43 Million Virtua Health Contract

On 21 October 2026, Pro Medicus announced that its wholly owned US subsidiary, Visage Imaging, had signed a seven-year, AU$43 million contract with New Jersey-based Virtua Health. The deal provides a cloud-based enterprise imaging platform made up of Visage 7 Viewer, Workflow, Open Archive and Cardiology.

The project will bring Virtua’s imaging capabilities together, link image distribution with its electronic health record system and migrate data from existing imaging archives. Implementation planning starts immediately, with go-live targeted for late Q2 or early Q3 of calendar 2027. Because the contract uses a transaction-based licensing model, revenue could rise further depending on usage.

Outlook

Together, the announcements show how infrastructure delivery, changes in shareholder positions and new commercial agreements can shape a company’s trajectory. Investors may want to follow further news on NEXTDC’s power supply, Smartgroup’s substantial holder disclosures and Pro Medicus’ rollout at Virtua.

Note: All data presented is based on information available at the time of writing.

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