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Swiss (SMI) Healthcare Sector Analysis

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies34
  • 7D2.6%
  • 3M6.4%
  • 1Y22.5%
  • YTD6.3%

In the last week, the Healthcare industry is up 2.6%, with Novartis up 2.8%. In the last 12 months, the industry was up 22%. Earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

Has the Swiss Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Jun 2026CHF 693.9bCHF 156.8bCHF 28.3b33.2x24.5x4.4x
Sun, 24 May 2026CHF 684.1bCHF 154.4bCHF 27.9b35.6x24.5x4.4x
Tue, 21 Apr 2026CHF 676.8bCHF 154.1bCHF 28.3b34.9x23.9x4.4x
Thu, 19 Mar 2026CHF 667.5bCHF 155.2bCHF 28.5b33.7x23.4x4.3x
Sat, 14 Feb 2026CHF 722.0bCHF 151.9bCHF 27.7b33.6x26x4.8x
Mon, 12 Jan 2026CHF 712.4bCHF 155.0bCHF 25.0b30.9x28.5x4.6x
Wed, 10 Dec 2025CHF 670.5bCHF 155.5bCHF 25.0b28.4x26.8x4.3x
Fri, 07 Nov 2025CHF 609.2bCHF 155.4bCHF 25.0b28.5x24.4x3.9x
Sun, 05 Oct 2025CHF 634.7bCHF 153.5bCHF 24.2b32.5x26.3x4.1x
Tue, 02 Sep 2025CHF 612.6bCHF 153.8bCHF 24.2b34.1x25.3x4x
Thu, 31 Jul 2025CHF 604.2bCHF 154.5bCHF 24.4b30.8x24.8x3.9x
Sat, 28 Jun 2025CHF 587.5bCHF 150.0bCHF 22.2b30.4x26.4x3.9x
Mon, 26 May 2025CHF 573.6bCHF 151.6bCHF 22.5b30.5x25.5x3.8x
Wed, 23 Apr 2025CHF 546.0bCHF 150.0bCHF 21.8b25.9x25.1x3.6x
Fri, 21 Mar 2025CHF 630.3bCHF 154.9bCHF 22.4b31.2x28.1x4.1x
Sun, 16 Feb 2025CHF 628.8bCHF 155.5bCHF 22.3b30.1x28.2x4x
Tue, 14 Jan 2025CHF 584.3bCHF 153.7bCHF 24.7b29.9x23.7x3.8x
Thu, 12 Dec 2024CHF 566.3bCHF 151.0bCHF 24.2b28.9x23.4x3.8x
Sat, 09 Nov 2024CHF 589.6bCHF 150.2bCHF 24.1b29.8x24.4x3.9x
Mon, 07 Oct 2024CHF 598.9bCHF 148.0bCHF 22.5b32.9x26.6x4x
Wed, 04 Sep 2024CHF 622.9bCHF 147.3bCHF 22.4b32.6x27.9x4.2x
Fri, 02 Aug 2024CHF 619.6bCHF 148.9bCHF 22.5b31.8x27.5x4.2x
Sun, 30 Jun 2024CHF 575.8bCHF 149.0bCHF 22.7b35.5x25.3x3.9x
Tue, 28 May 2024CHF 558.6bCHF 150.2bCHF 22.9b33.7x24.4x3.7x
Thu, 25 Apr 2024CHF 537.6bCHF 146.2bCHF 22.9b35.3x23.5x3.7x
Sat, 23 Mar 2024CHF 534.6bCHF 144.2bCHF 22.2b37.5x24x3.7x
Mon, 19 Feb 2024CHF 520.7bCHF 142.8bCHF 22.4b32.9x23.3x3.6x
Wed, 17 Jan 2024CHF 544.3bCHF 152.1bCHF 21.9b27.3x24.9x3.6x
Fri, 15 Dec 2023CHF 524.3bCHF 152.2bCHF 21.9b27.1x24x3.4x
Sun, 12 Nov 2023CHF 502.6bCHF 155.0bCHF 22.2b23.4x22.7x3.2x
Tue, 10 Oct 2023CHF 532.7bCHF 154.2bCHF 21.7b28.2x24.5x3.5x
Thu, 07 Sep 2023CHF 535.2bCHF 144.7bCHF 21.2b30x25.3x3.7x
Sat, 05 Aug 2023CHF 549.4bCHF 146.5bCHF 22.5b35.3x24.4x3.8x
Mon, 03 Jul 2023CHF 565.9bCHF 147.1bCHF 22.2b35.6x25.5x3.8x
Price to Earnings Ratio

25.5x


Total Market Cap: CHF 565.9bTotal Earnings: CHF 22.2bTotal Revenue: CHF 147.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Healthcare Sector Price to Earnings3Y Average 25.2x202420252026
Current Industry PE
  • Investors are relatively neutral on the Swiss Healthcare industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 25.2x.
  • The 3-year average PS ratio of 3.9x is lower than the industry's current PS ratio of 4.4x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 8.4% per year over the last three years.
  • Revenues for these companies have grown 2.1% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Swiss Healthcare sector?

CH Market1.84%
Healthcare2.65%
Life Sciences6.78%
Pharma2.37%
Medical Equipment2.37%
Healthcare Services1.03%
Biotech-2.20%
Healthtech-5.82%
Industry PE
  • Investors are most optimistic about the Life Sciences industry, which is trading close to its 3-year average PE ratio of 46.5x.
    • Analysts are expecting annual earnings growth of 19.0%, which is higher than its past year's earnings growth of 14.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 36% over the next 5 years.
  • This is better than its past earnings decline of 48% per year.
  • In contrast, the Healthtech industry is expected to see its earnings grow by 5.4% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NOVN NovartisCHF 126.006.7%
+CHF 14.6b		31.2%PE21x
ROP Roche HoldingCHF 335.305.1%
+CHF 13.0b		27.9%PE20.7x
LONN Lonza GroupCHF 537.209.3%
+CHF 3.2b		-4.6%PE41.3x
SDZ Sandoz GroupCHF 73.268.2%
+CHF 2.4b		70.6%PE42.8x
ALC AlconCHF 55.747.4%
+CHF 1.9b		-20.4%PE41x

Latest News

LONN
CHF 537.20
Lonza Group
7D
9.3%
1Y
-4.6%
DESN
CHF 277.00
Dottikon ES Holding
7D
-6.4%
1Y
-6.4%
Analysis Article • Jun 24

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ROP
CHF 335.30
Roche Holding
7D
5.1%
1Y
27.9%
NOVN
CHF 126.00
Novartis
7D
6.7%
1Y
31.2%
SOON
CHF 195.20
Sonova Holding
7D
-0.6%
1Y
-18.4%
Narrative Update • Jun 22

SOON: Execution Gains And Portfolio Shift Will Support Medium Term Re-Rating

Analysts have trimmed their fair value estimate for Sonova Holding only slightly to about CHF 290. This reflects a mix of higher and lower Street price targets and updated assumptions on revenue growth, profitability and future P/E expectations that have been incorporated into the new price target.
PPGN
CHF 44.55
PolyPeptide Group
7D
19.4%
1Y
117.3%
Analysis Article • Jun 22

PolyPeptide Group (SWX:PPGN) Stock Could Be 8.9% Overvalued After Return To Profit

PolyPeptide Group (SWX:PPGN) has attracted fresh attention after swinging from a net loss to a net profit in its latest quarter, a shift that coincides with supportive analyst sentiment. See our latest analysis for PolyPeptide Group. The recent swing to profit appears to have coincided with a sharp improvement in sentiment, with PolyPeptide Group’s share price at CHF39.35 delivering a 59.96% 90 day share price return and a 98.14% 1 year total shareholder return, even though the 5 year total...
BANB
CHF 71.20
Bachem Holding
7D
6.3%
1Y
21.3%
Narrative Update • Jun 22

BANB: Capacity Expansion Commitments Will Heighten Execution Risk And Restrain Upside

Analysts have raised their price target on Bachem Holding by CHF 5 to reflect updated assumptions for discount rates, growth and profitability. This move is supported by recent Street research that cites a higher target from CHF 5 at Barclays as a reference point for the new CHF level.
SANN
CHF 15.90
Santhera Pharmaceuticals Holding
7D
-1.4%
1Y
31.8%
SDZ
CHF 73.26
Sandoz Group
7D
8.2%
1Y
70.6%
Analysis Article • Jun 19

Sandoz Group (SWX:SDZ) Stock Could Be 2% Overvalued After Ljubljana Biosimilar Centre Launch

Sandoz Group (SWX:SDZ) has opened a new biosimilar development centre in Ljubljana, Slovenia, a fully digitally integrated US$99 million facility that expands its in house capabilities across drug substance and drug product development. See our latest analysis for Sandoz Group. Set against this investment in Ljubljana, Sandoz Group’s 1 day share price return declined 1.60% to CHF67.68, while its year to date share price return of 18.28% and 1 year total shareholder return of 57.12% suggest...
ALC
CHF 55.74
Alcon
7D
7.4%
1Y
-20.4%
Narrative Update • Jun 19

ALC: Cataract Platform Expansion And Share Buybacks Will Drive Future Upside

Analysts have trimmed their price target on Alcon, with updated fair value estimates moving from around CHF 79.02 to CHF 76.62 as they adjust assumptions for the discount rate, revenue growth, profit margin and future P/E. What’s in the News for Alcon Alcon launched the UNITY CS cataract surgical system in Canada, described as the company’s next generation standalone cataract platform, with a showcase planned at the Canadian Ophthalmological Society Annual Meeting and Exhibition in June 2026, according to Alcon.
GALD
CHF 178.50
Galderma Group
7D
3.4%
1Y
55.1%
Narrative Update • Jun 17

GALD: Rising Execution Bar And Rich P/E Will Likely Cap Future Share Upside

Analysts have raised the Galderma Group price target by CHF 5 to CHF 125.65, citing updated assumptions on fair value, revenue growth, profit margins and forward P/E that are consistent with a recent series of target increases from major banks. Analyst Commentary Recent Street research on Galderma Group points to a cluster of higher price targets, framed around updated assumptions for earnings quality, revenue mix and P/E levels.
MEDX
CHF 7.87
medmix
7D
-6.4%
1Y
-32.4%
Narrative Update • Jun 17

MEDX: Steady Assumptions And Dividend Initiation Will Support Future Upside Potential

Analysts have maintained their CHF 15.97 price target for medmix, making only minor adjustments to the discount rate and valuation inputs. These changes reflect a fine tuning of their assumptions rather than a change in their overall view.
ASCN
CHF 6.08
Ascom Holding
7D
-2.4%
1Y
70.5%
Narrative Update • Jun 12

ASCN: Dividend Payout And Earnings Outlook Are Expected To Support Returns

Analysts have kept their CHF price target for Ascom Holding broadly steady, with a modest adjustment that reflects slightly lower discount rate assumptions, marginally higher revenue growth expectations, and a small uplift in projected profit margins and future P/E levels. What's in the News At the Annual General Meeting held on April 22, 2026, Ascom Holding AG shareholders approved a gross dividend of CHF 0.20 per share for the 2025 fiscal year (source: Key Developments).
KURN
CHF 18.41
Kuros Biosciences
7D
-1.9%
1Y
-35.2%
XLS
CHF 20.20
Xlife Sciences
7D
-19.2%
1Y
4.1%
BIOV
CHF 25.70
BioVersys
7D
-3.7%
1Y
-25.5%