The S&P/ASX 200 Index (ASX: XJO) has run out of steam on Wednesday and dropped into the red. At the time of writing, the benchmark index is down 0.6% to 8,444.3 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
4DMedical Ltd (ASX: 4DX)
The 4DMedical share price is up 17% to 56 cents. Investors have been buying this medical technology company's shares today after it presented its cutting-edge technology, CT:VQ, at RSNA 2024. This is ahead of an expected FDA submission in mid 2025. This technology is aiming to displace nuclear VQ diagnostic imaging, which represents a $1 billion market opportunity in the United States. In addition, management highlights that there is a significant opportunity to improve healthcare equity and accessibility which is not being addressed by Nuclear VQ diagnostic imaging based on early clinical results.
Bravura Solutions Ltd (ASX: BVS)
The Bravura Solutions share price is up 19% to $1.97. This morning, this wealth management software company upgraded its revenue and earnings guidance for FY 2025. Bravura now expects its revenue to be in the range of $240 million to $245 million for FY 2025. This is up from its previous guidance range of $235 million to $240 million. As for earnings, management has upgraded its cash EBITDA guidance to be in the range of $33 million to $36 million. This compares to its previous guidance range of $28 million to $32 million. This has been driven by the successful transformation and execution of its business strategy over the past 18 months. Also getting investors excited is news that Bravura will be resuming dividend payments in 2025, starting with an interim dividend in February.
GQG Partners Inc (ASX: GQG)
The GQG Partners share price is up almost 6% to $2.21. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has upgraded this embattled fund manager's shares to an add rating with a $2.47 price target. Morgans appears optimistic that the damage from GQG's investments in the Adani Group won't be as bad as first feared. Particularly given how outflows have been modest since the initial news.
Pro Medicus Limited (ASX: PME)
The Pro Medicus share price is up 3% to $264.22. This is despite news that the high-flying health imaging technology company's co-founders are each selling 100 million shares. Though, with the executives commanding a price of $256.73 per share, which was yesterday's closing share price, it is apparent that demand for these shares was strong. Furthermore, the two co-founders remain the two largest shareholders in the company with over 24 million shares each.
