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Danish (OMX) Healthcare Sector Analysis

UpdatedMar 19, 2026
DataAggregated Company Financials
Companies21
  • 7D-2.8%
  • 3M-19.7%
  • 1Y-49.4%
  • YTD-24.4%

In the last week, the Healthcare industry is flat overall, with Novo Nordisk standing out by going down 3.3%. As for the longer term, the industry has declined 48% in the last year. As for the next few years, earnings are expected to grow by 5.7% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Mar 2026DKK 1.5tDKK 447.9bDKK 130.1b16.4x11.4x3.3x
Sat, 14 Feb 2026DKK 1.8tDKK 448.0bDKK 134.8b15.7x13.5x4.1x
Mon, 12 Jan 2026DKK 2.2tDKK 454.0bDKK 137.0b17.9x16.1x4.9x
Wed, 10 Dec 2025DKK 1.8tDKK 454.0bDKK 137.0b17x13.3x4x
Fri, 07 Nov 2025DKK 1.9tDKK 451.7bDKK 134.4b17.8x13.8x4.1x
Sun, 05 Oct 2025DKK 2.2tDKK 447.3bDKK 141.7b18.3x15.5x4.9x
Tue, 02 Sep 2025DKK 2.1tDKK 447.4bDKK 141.7b24.4x14.9x4.7x
Thu, 31 Jul 2025DKK 1.9tDKK 423.8bDKK 124.7b29.5x15.2x4.5x
Sat, 28 Jun 2025DKK 2.4tDKK 423.1bDKK 124.5b30.5x19.2x5.7x
Mon, 26 May 2025DKK 2.4tDKK 424.3bDKK 125.1b23.4x19.4x5.7x
Wed, 23 Apr 2025DKK 2.2tDKK 409.2bDKK 121.3b20.8x17.9x5.3x
Fri, 21 Mar 2025DKK 2.9tDKK 409.5bDKK 121.3b25.2x24x7.1x
Sun, 16 Feb 2025DKK 3.0tDKK 409.9bDKK 121.5b26.3x24.9x7.4x
Tue, 14 Jan 2025DKK 3.3tDKK 387.5bDKK 111.4b29.4x29.4x8.4x
Thu, 12 Dec 2024DKK 4.1tDKK 387.4bDKK 111.3b31.2x36.5x10.5x
Sat, 09 Nov 2024DKK 3.9tDKK 386.3bDKK 110.7b32.7x35.1x10.1x
Mon, 07 Oct 2024DKK 4.0tDKK 372.0bDKK 107.1b35.8x37.5x10.8x
Wed, 04 Sep 2024DKK 4.7tDKK 372.0bDKK 107.2b35x44.2x12.7x
Fri, 02 Aug 2024DKK 4.7tDKK 355.4bDKK 106.3b36.7x44x13.2x
Sun, 30 Jun 2024DKK 5.0tDKK 355.3bDKK 106.2b35.1x47.4x14.2x
Tue, 28 May 2024DKK 4.7tDKK 355.3bDKK 106.2b37.4x43.8x13.1x
Thu, 25 Apr 2024DKK 4.5tDKK 341.4bDKK 99.6b33.8x45.1x13.2x
Sat, 23 Mar 2024DKK 4.6tDKK 341.2bDKK 99.6b39.7x45.7x13.4x
Mon, 19 Feb 2024DKK 4.4tDKK 340.0bDKK 98.7b34.9x44.3x12.9x
Wed, 17 Jan 2024DKK 3.8tDKK 320.5bDKK 90.0b33.4x42.1x11.8x
Fri, 15 Dec 2023DKK 3.5tDKK 320.4bDKK 90.0b33.2x38.7x10.9x
Sun, 12 Nov 2023DKK 3.6tDKK 319.8bDKK 89.9b31.7x39.6x11.1x
Tue, 10 Oct 2023DKK 3.4tDKK 305.5bDKK 82.2b32.5x41x11x
Thu, 07 Sep 2023DKK 3.5tDKK 305.5bDKK 82.2b36.2x42.6x11.5x
Sat, 05 Aug 2023DKK 2.9tDKK 288.2bDKK 74.9b38.5x38.6x10x
Mon, 03 Jul 2023DKK 3.0tDKK 287.1bDKK 75.5b40.3x39.9x10.5x
Wed, 31 May 2023DKK 3.1tDKK 287.1bDKK 75.5b41x40.6x10.7x
Fri, 28 Apr 2023DKK 3.1tDKK 272.6bDKK 69.0b44.3x44.8x11.3x
Sun, 26 Mar 2023DKK 2.9tDKK 291.2bDKK 69.0b36.7x42.1x10x
Price to Earnings Ratio

42.1x


Total Market Cap: DKK 2.9tTotal Earnings: DKK 69.0bTotal Revenue: DKK 291.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Danish Healthcare Sector Price to Earnings3Y Average 32.2x202420252026
Current Industry PE
  • Investors are pessimistic on the Danish Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 11.7x which is lower than its 3-year average PE of 32.2x.
  • The 3-year average PS ratio of 9.2x is higher than the industry's current PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 24% per year over the last three years.
  • Revenues for these companies have grown 15% 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 Danish Healthcare sector?

DK Market-0.58%
Healthcare-2.81%
Healthtech15.96%
Healthcare Services5.45%
Life Sciences0.78%
Medical Equipment-1.15%
Biotech-2.63%
Pharma-3.13%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 464x.
    • Analysts are expecting annual earnings growth of 85.3%, which is higher than its past year's earnings decline of 99.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Services industry, expecting annual earnings growth of 85% over the next 5 years.
  • This is better than its past earnings decline of 100% per year.
  • In contrast, the Life Sciences industry is expected to see its earnings decline by 3.2% 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
COLO B ColoplastDKK 446.101.0%
+DKK 1.0b		-39.1%PE25.2x
ZEAL Zealand PharmaDKK 280.503.9%
+DKK 741.4m		-50.6%PE3.1x
HLUN B H. LundbeckDKK 38.001.3%
+DKK 475.8m		-5.7%PE11.8x
BAVA Bavarian NordicDKK 186.251.7%
+DKK 236.7m		11.0%PE10.5x
NNIT NNITDKK 45.6016.0%
+DKK 156.9m		-38.8%PS0.6x

Latest News

NNIT
DKK 45.60
NNIT
7D
16.0%
1Y
-38.8%
HLUN B
DKK 38.00
H. Lundbeck
7D
1.3%
1Y
-5.7%
GMAB
DKK 1,680.00
Genmab
7D
-4.4%
1Y
22.0%

GMAB: 2026 Catalyst Calendar Will Likely Expose Downside Risk Ahead

Analysts have lifted the Genmab fair value estimate from DKK 1,075.93 to DKK 1,300.00, reflecting updated views on revenue growth, profitability and future P/E, following recent price target revisions and renewed coverage across the Street. Analyst Commentary Recent Street research on Genmab points to a mix of optimism and caution, with valuation views reset around updated expectations for key pipeline assets and royalty streams.
GUBRA
DKK 384.40
Gubra
7D
1.2%
1Y
-24.6%

GUBRA: Future Obesity Trial And Ventures Platform Will Drive Upside Potential

Analysts have kept their DKK 469.5 price target on Gubra unchanged, citing model adjustments that reflect a slightly higher discount rate, softer revenue expectations, a lower projected profit margin and a higher future P/E multiple. What's in the News Gubra submitted a clinical trial application in Germany for GUB-UCN2, a first in human Phase 1/2a study aimed at high quality weight loss, with a design that looks at safety, tolerability, pharmacokinetics, preliminary efficacy, muscle volume and muscle function in about 188 participants, including both healthy volunteers and people living with obesity, as a standalone therapy and in combination with incretin based treatment.
COLO B
DKK 446.10
Coloplast
7D
1.0%
1Y
-39.1%
BAVA
DKK 186.25
Bavarian Nordic
7D
1.7%
1Y
11.0%
ALK B
DKK 210.00
ALK-Abelló
7D
-1.9%
1Y
44.8%

ALK B: Future Upside Will Rely On Wider Anaphylaxis Treatment Adoption

Analysts have kept their DKK 255.00 price target for ALK-Abelló unchanged, indicating that their views on fair value, discount rate, expected revenue growth, profit margin and future P/E assumptions remain broadly steady. What's in the News ALK-Abelló presented late-breaking data from a 90-participant study comparing needle-free EURneffy nasal adrenaline to injectable auto-injectors for anaphylaxis, with 88% of participants preferring EURneffy, mainly for ease of use, portability and the absence of a needle (AAAAI 2026 Annual Meeting).
DEMANT
DKK 181.60
Demant
7D
-3.7%
1Y
-29.0%

DEMANT: Recent Upgrade And 2026 Guidance May Support Further Upside

Our updated narrative keeps the fair value estimate steady at DKK 232.17 per share, reflecting a balanced view of recent Street research. One analyst raised Demant to a Buy with a DKK 230 target, while several others trimmed their price targets.
EMBLA
DKK 27.30
Embla Medical hf
7D
-5.5%
1Y
-4.9%

EMBLA: Share Cancellations And New Capital Authorisations Will Support Future Upside

Analysts have kept their DKK 37.40 price target for Embla Medical hf unchanged. They cite only minor tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions that do not materially alter their view of fair value.
ZEAL
DKK 280.50
Zealand Pharma
7D
3.9%
1Y
-50.6%

ZEAL: Petrelintide Obesity Data And Pipeline Progress Will Support Future Upside

The updated analyst price target for Zealand Pharma moves lower to DKK 611 from about DKK 730, as analysts factor in reduced expectations for petrelintide's obesity opportunity, modestly higher risk assumptions, and a lower implied future P/E multiple, following a series of rating downgrades to Neutral or Hold. Analyst Commentary Recent research notes cluster around a more cautious stance on Zealand Pharma, with several firms shifting ratings to Neutral or Hold and setting price targets below the prior DKK 730 level.
AMBU B
DKK 69.90
Ambu
7D
-4.3%
1Y
-43.1%

AMBU B: Share Repurchase Mandate And Lowered Fair Value Will Support Upside

Analysts have trimmed their price target on Ambu by DKK 12 to reflect updated assumptions on fair value, discount rates and earnings expectations following recent research commentary. Analyst Commentary Bullish Takeaways Bullish analysts view the revised DKK 12 lower price target as still consistent with a supportive fair value range.
NOVO B
DKK 241.50
Novo Nordisk
7D
-3.3%
1Y
-55.8%

NOVO B: Future Returns Will Rely On Oral Obesity And GLP-1 Tablet Expansion

The updated analyst price target for Novo Nordisk has shifted from DKK 376.59 to DKK 330.95, with analysts citing more measured assumptions on revenue growth, profit margins and future P/E as key drivers of the change. Analyst Commentary Analysts revisiting their assumptions on Novo Nordisk are effectively marking the shares to more conservative expectations, with the updated price target of DKK 330.95 reflecting a reset in what they are willing to pay for the company’s earnings profile.
CHEMM
DKK 403.20
ChemoMetec
7D
0.4%
1Y
-25.2%
STENO
DKK 0.92
Stenocare
7D
-26.1%
1Y
118.1%
BIOPOR
DKK 0.86
BioPorto
7D
-3.9%
1Y
-40.1%
SMSMED
DKK 3.48
Scandinavian Medical Solutions
7D
5.5%
1Y
-39.6%

Sentiment Still Eluding Scandinavian Medical Solutions A/S (CPH:SMSMED)

Jan 27
Sentiment Still Eluding Scandinavian Medical Solutions A/S (CPH:SMSMED)