Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Swiss (SMI) Healthcare Sector Analysis

UpdatedMay 11, 2026
DataAggregated Company Financials
Companies34
  • 7D-1.2%
  • 3M-7.4%
  • 1Y15.6%
  • YTD-1.2%

Over the last 7 days, the Healthcare industry has dropped 1.2%, driven by a pullback from Alcon of 15%. Meanwhile, Sandoz Group actually outperformed within the industry, gaining 6.4% in the last week. Over the past 12 months, the industry was up 16%. Looking forward, 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
Mon, 11 May 2026CHF 653.5bCHF 154.0bCHF 27.7b34.2x23.6x4.2x
Wed, 08 Apr 2026CHF 662.3bCHF 155.7bCHF 28.6b32.1x23.2x4.3x
Fri, 06 Mar 2026CHF 711.9bCHF 153.7bCHF 28.4b32.1x25.1x4.6x
Sun, 01 Feb 2026CHF 713.4bCHF 152.1bCHF 28.1b33.6x25.4x4.7x
Tue, 30 Dec 2025CHF 687.5bCHF 154.2bCHF 24.8b30.3x27.7x4.5x
Thu, 27 Nov 2025CHF 662.4bCHF 155.3bCHF 25.0b28.2x26.5x4.3x
Sat, 25 Oct 2025CHF 624.1bCHF 153.5bCHF 24.2b32x25.8x4.1x
Mon, 22 Sep 2025CHF 605.0bCHF 153.5bCHF 24.1b33.9x25.1x3.9x
Wed, 20 Aug 2025CHF 614.0bCHF 154.4bCHF 24.4b35.3x25.1x4x
Fri, 18 Jul 2025CHF 580.6bCHF 150.4bCHF 22.3b30.4x26x3.9x
Sun, 15 Jun 2025CHF 594.8bCHF 150.9bCHF 22.4b31.2x26.5x3.9x
Tue, 13 May 2025CHF 577.8bCHF 153.4bCHF 22.8b32.3x25.4x3.8x
Thu, 10 Apr 2025CHF 504.5bCHF 152.9bCHF 22.2b25.2x22.7x3.3x
Sat, 08 Mar 2025CHF 635.4bCHF 154.4bCHF 22.4b27.4x28.4x4.1x
Mon, 03 Feb 2025CHF 622.6bCHF 156.4bCHF 22.5b31.8x27.7x4x
Wed, 01 Jan 2025CHF 569.2bCHF 152.8bCHF 24.5b28.5x23.2x3.7x
Fri, 29 Nov 2024CHF 577.9bCHF 151.0bCHF 24.2b29.1x23.8x3.8x
Sun, 27 Oct 2024CHF 619.6bCHF 148.6bCHF 22.6b29.7x27.5x4.2x
Tue, 24 Sep 2024CHF 606.5bCHF 147.4bCHF 22.4b31.5x27.1x4.1x
Thu, 22 Aug 2024CHF 623.1bCHF 147.4bCHF 22.3b32x27.9x4.2x
Sat, 20 Jul 2024CHF 597.1bCHF 149.4bCHF 23.5b37.6x25.4x4x
Mon, 17 Jun 2024CHF 572.9bCHF 148.4bCHF 22.6b35.6x25.3x3.9x
Wed, 15 May 2024CHF 552.8bCHF 145.9bCHF 22.9b33.1x24.2x3.8x
Fri, 12 Apr 2024CHF 547.6bCHF 144.9bCHF 22.3b35.4x24.5x3.8x
Sun, 10 Mar 2024CHF 534.9bCHF 142.8bCHF 22.6b36.3x23.6x3.7x
Tue, 06 Feb 2024CHF 520.8bCHF 144.8bCHF 21.8b32x23.9x3.6x
Thu, 04 Jan 2024CHF 534.4bCHF 151.4bCHF 21.8b26.5x24.5x3.5x
Sat, 02 Dec 2023CHF 512.5bCHF 152.7bCHF 21.9b25.4x23.4x3.4x
Mon, 30 Oct 2023CHF 495.8bCHF 154.9bCHF 22.2b23.4x22.4x3.2x
Wed, 27 Sep 2023CHF 533.5bCHF 146.1bCHF 21.2b32.1x25.1x3.7x
Fri, 25 Aug 2023CHF 545.6bCHF 144.1bCHF 21.1b29.5x25.9x3.8x
Sun, 23 Jul 2023CHF 562.3bCHF 146.1bCHF 22.5b36.1x25x3.8x
Tue, 20 Jun 2023CHF 569.2bCHF 147.1bCHF 22.2b34.6x25.6x3.9x
Thu, 18 May 2023CHF 578.7bCHF 147.2bCHF 22.2b34.6x26x3.9x
Price to Earnings Ratio

26x


Total Market Cap: CHF 578.7bTotal Earnings: CHF 22.2bTotal Revenue: CHF 147.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Healthcare Sector Price to Earnings3Y Average 25.3x202420252026
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 25.3x.
  • The industry is trading close to its 3-year average PS ratio of 3.9x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 7.7% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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

CH Market0.066%
Healthcare-1.18%
Life Sciences3.02%
Biotech0.20%
Healthtech0.19%
Healthcare Services-0.80%
Pharma-0.97%
Medical Equipment-6.24%
Industry PE
  • Investors are most optimistic about the Life Sciences industry, which is trading close to its 3-year average PE ratio of 46.2x.
    • Analysts are expecting annual earnings growth of 19.2%, 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 34% 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
ROP Roche HoldingCHF 319.400.9%
+CHF 2.3b		22.0%PE19.7x
SDZ Sandoz GroupCHF 66.806.3%
+CHF 1.7b		76.7%PE40.6x
BANB Bachem HoldingCHF 79.157.0%
+CHF 389.7m		50.9%PE39.9x
YPSN Ypsomed HoldingCHF 299.207.3%
+CHF 278.4m		-16.7%PE21x
LONN Lonza GroupCHF 481.800.5%
+CHF 181.6m		-16.3%PE37x

Latest News

ROP
CHF 319.40
Roche Holding
7D
0.9%
1Y
22.0%
NOVN
CHF 113.70
Novartis
7D
-0.1%
1Y
24.0%
ALC
CHF 48.75
Alcon
7D
-15.8%
1Y
-39.1%
LONN
CHF 481.80
Lonza Group
7D
0.5%
1Y
-16.3%
SOON
CHF 176.00
Sonova Holding
7D
1.3%
1Y
-33.9%
Narrative Update • May 03

SOON: Portfolio Shift And Retail Expansion May Support Higher P E Over Time

Analysts have trimmed the blended fair value estimate for Sonova to about CHF 216 from roughly CHF 227. This reflects lower price targets from several banks alongside updated assumptions for slightly slower revenue growth, a marginally higher discount rate and a modest tweak to future P/E and margin expectations.
TECN
CHF 131.50
Tecan Group
7D
6.6%
1Y
-23.7%
Narrative Update • May 02

TECN: Updated Discount Assumptions Will Shape Perceived Upside Potential

Tecan Group's analyst price target has been reduced by CHF 1 to CHF 136, as analysts factor in updated discount rate and valuation assumptions, along with modest adjustments to revenue growth, profit margin and future P/E inputs. Analyst Commentary Recent research points to a more cautious tone around Tecan Group, with reduced price targets reflecting reassessed assumptions on growth, profitability and valuation multiples.
YPSN
CHF 299.20
Ypsomed Holding
7D
7.3%
1Y
-16.7%
Narrative Update • May 01

YPSN: Share Buyback And Recent Upgrade Will Support Long Term Upside

Analysts have slightly adjusted their view on Ypsomed Holding, trimming the fair value estimate from CHF 314.70 to CHF 309.85 as they factor in updated assumptions for discount rates, revenue growth, profit margins and future P/E, reflected in part by a recent upgrade from Barclays. Analyst Commentary Even with the fair value estimate only slightly adjusted, some readers may want to pay close attention to where analysts see potential pressure on the story, especially around valuation and execution against expectations.
SDZ
CHF 66.80
Sandoz Group
7D
6.3%
1Y
76.7%
Narrative Update • May 01

SDZ: Mixed Rating Shifts And Biosimilar Deals Will Shape Future P/E

The updated analyst price target for Sandoz Group has been revised by approximately CHF 1 higher, reflecting modestly adjusted assumptions around fair value, revenue growth, profit margins and future P/E as analysts balance recent target changes and rating shifts across major banks. Analyst Commentary Recent Street research around Sandoz Group shows a mix of optimism on the company’s long term potential and caution on how current pricing and expectations line up with execution risks.
STMN
CHF 83.44
Straumann Holding
7D
-1.5%
1Y
-25.3%
Narrative Update • May 01

STMN: Higher Future P/E Assumptions Will Support Confidence In Execution Potential

Straumann's updated analyst price target holds around CHF 123, with recent small CHF 1 to CHF 3 adjustments from different banks reflecting analysts' mixed views on future growth, profit margins, and the appropriate P/E level for the shares. Analyst Commentary Recent Street research shows a mix of views on Straumann, with price targets clustering around CHF 79 to CHF 123 and opinions split on whether the current P/E is justified.
BANB
CHF 79.15
Bachem Holding
7D
7.0%
1Y
50.9%
Narrative Update • May 01

BANB: Future Earnings Execution Is Expected To Support CHF 80 Upside Potential

Analysts have nudged their price target on Bachem Holding slightly higher, with recent Street research indicating a CHF 5 increase from both Barclays and Deutsche Bank to CHF 80, supported by updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Bullish Takeaways Bullish analysts see the move to a CHF 80 target as aligned with their updated view on fair value, suggesting that current assumptions on growth and margins justify a higher valuation anchor.
MOVE
CHF 134.20
Medacta Group
7D
-5.2%
1Y
-3.3%
GALE
CHF 81.70
Galenica
7D
-1.0%
1Y
-3.9%
Narrative Update • Apr 29

GALE: Dividend Outlook And Job Cuts Will Support A Steady Forward View

Analysts now estimate Galenica's fair value at CHF 88.00, matching the previous CHF 88.00 and reflecting largely unchanged assumptions on discount rate, revenue growth, profit margin and future P/E. What's in the News Annual dividend of CHF 1.25 per share announced, with payment scheduled for April 27, 2026, ex date on April 23, 2026, and record date on April 24, 2026 (Key Developments).
COPN
CHF 74.60
Cosmo
7D
-7.1%
1Y
47.4%
Narrative Update • Apr 23

COPN: Higher CHF 160 Outlook Will Depend On Upcoming Alopecia Filing

Analysts have raised their price target on Cosmo to CHF 160 from CHF 130, citing updated assumptions on fair value, revenue growth, profit margins and future P/E that contribute to a higher overall valuation framework. Analyst Commentary While the higher CHF 160 target reflects updated valuation work, bearish analysts still flag several areas where expectations could prove demanding if underlying assumptions do not play out as planned.
METN
CHF 713.00
Metall Zug
7D
-1.9%
1Y
-33.7%
DESN
CHF 363.50
Dottikon ES Holding
7D
2.7%
1Y
76.5%
CURN
CHF 22.90
Curatis Holding
7D
-5.0%
1Y
122.3%