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U.K. (FTSE) Healthcare Sector Analysis

UpdatedJan 02, 2026
DataAggregated Company Financials
Companies82
  • 7D0.9%
  • 3M8.3%
  • 1Y24.4%
  • YTDn/a

In the last week, Healthcare has been flat. As for the the longer term, the industry is up 24% over the past 12 months. As for the next few years, earnings are expected to grow by 11% per annum.

Sector Valuation and Performance

Has the U.K. Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 02 Jan 2026UK£350.3bUK£100.1bUK£15.0b22.7x23.4x3.5x
Sun, 30 Nov 2025UK£352.1bUK£101.0bUK£15.1b24x23.3x3.5x
Tue, 28 Oct 2025UK£323.6bUK£98.9bUK£12.1b23.6x26.7x3.3x
Thu, 25 Sep 2025UK£298.0bUK£101.0bUK£12.1b28.2x24.6x2.9x
Sat, 23 Aug 2025UK£316.8bUK£100.7bUK£12.0b29.2x26.4x3.1x
Mon, 21 Jul 2025UK£280.0bUK£99.8bUK£10.9b31.8x25.7x2.8x
Wed, 18 Jun 2025UK£290.6bUK£97.3bUK£10.8b28.8x27x3x
Fri, 16 May 2025UK£278.8bUK£97.8bUK£10.9b30.6x25.7x2.9x
Sun, 13 Apr 2025UK£268.9bUK£97.9bUK£9.7b28x27.6x2.7x
Tue, 11 Mar 2025UK£314.2bUK£98.7bUK£9.6b26.6x32.7x3.2x
Thu, 06 Feb 2025UK£292.0bUK£97.4bUK£8.9b28.4x32.9x3x
Sat, 04 Jan 2025UK£248.2bUK£86.6bUK£7.7b31.3x32.2x2.9x
Mon, 02 Dec 2024UK£249.2bUK£85.3bUK£7.6b27.7x32.9x2.9x
Wed, 30 Oct 2024UK£269.0bUK£82.8bUK£8.9b25.4x30.2x3.2x
Fri, 27 Sep 2024UK£275.3bUK£81.3bUK£8.8b31.1x31.4x3.4x
Sun, 25 Aug 2024UK£300.1bUK£81.9bUK£8.8b34.4x33.9x3.7x
Tue, 23 Jul 2024UK£283.8bUK£80.9bUK£9.3b32.3x30.5x3.5x
Thu, 20 Jun 2024UK£287.4bUK£81.7bUK£9.4b30.6x30.5x3.5x
Sat, 18 May 2024UK£291.4bUK£81.7bUK£9.4b33.7x31x3.6x
Mon, 15 Apr 2024UK£271.0bUK£81.8bUK£9.7b29.9x28x3.3x
Wed, 13 Mar 2024UK£264.2bUK£80.4bUK£9.5b34.8x27.7x3.3x
Fri, 09 Feb 2024UK£250.7bUK£79.7bUK£9.4b36.9x26.6x3.1x
Sun, 07 Jan 2024UK£275.9bUK£83.9bUK£10.6b40.4x25.9x3.3x
Tue, 05 Dec 2023UK£263.5bUK£84.3bUK£10.7b39.2x24.7x3.1x
Thu, 02 Nov 2023UK£263.2bUK£86.2bUK£10.3b40.5x25.5x3.1x
Sat, 30 Sep 2023UK£281.2bUK£85.8bUK£10.3b41.2x27.2x3.3x
Mon, 28 Aug 2023UK£270.2bUK£84.4bUK£10.2b40.4x26.5x3.2x
Wed, 26 Jul 2023UK£273.0bUK£82.1bUK£7.8b46.1x34.9x3.3x
Fri, 23 Jun 2023UK£284.0bUK£82.5bUK£7.9b46x36.1x3.4x
Sun, 21 May 2023UK£294.2bUK£83.5bUK£8.0b47.9x36.9x3.5x
Tue, 18 Apr 2023UK£294.3bUK£84.5bUK£6.9b47x42.5x3.5x
Thu, 16 Mar 2023UK£268.4bUK£85.6bUK£7.0b40.5x38.6x3.1x
Sat, 11 Feb 2023UK£286.3bUK£86.1bUK£6.6b37.1x43.4x3.3x
Mon, 09 Jan 2023UK£291.4bUK£95.1bUK£6.6b36.5x44.1x3.1x
Price to Earnings Ratio

44.1x


Total Market Cap: UK£291.4bTotal Earnings: UK£6.6bTotal Revenue: UK£95.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Healthcare Sector Price to Earnings3Y Average 30.3x202420252026
Current Industry PE
  • Investors are pessimistic on the British 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 23.4x which is lower than its 3-year average PE of 30.3x.
  • The industry is trading close to its 3-year average PS ratio of 3.2x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 31% 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 U.K. Healthcare sector?

GB Market0.74%
Healthcare0.94%
Biotech1.64%
Healthcare Services1.56%
Medical Equipment1.54%
Pharma0.91%
Healthtech0.55%
Life Sciences0.023%
Industry PE
  • Investors are most optimistic about the Healthtech industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 19.2%, which is lower than the prior year's growth of 68.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Life Sciences industry, expecting annual earnings growth of 45% over the next 5 years.
  • This is better than its past earnings decline of 70% per year.
  • In contrast, the Pharma industry is expected to see its earnings grow by 10% 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
AZN AstraZenecaUK£137.900.8%
+UK£1.8b		29.7%PE30.7x
GSK GSKUK£18.251.1%
+UK£762.4m		34.0%PE13.3x
HLN HaleonUK£3.750.7%
+UK£222.7m		-1.1%PE21.9x
SN. Smith & NephewUK£12.391.5%
+UK£153.0m		24.7%PE28.9x
CTEC Convatec GroupUK£2.432.2%
+UK£101.4m		10.3%PE29.5x

Latest News

AOTI
UK£0.28
AOTI
7D
-12.7%
1Y
-75.2%
HCM
UK£2.08
HUTCHMED (China)
7D
5.9%
1Y
-15.8%
HLN
UK£3.75
Haleon
7D
0.7%
1Y
-1.1%

HLN: Rising Confidence In Earnings And Cash Generation Will Support Re Rating

Analysts have nudged their price target on Haleon higher to approximately £5.17 from about £5.07, citing stronger projected revenue growth and a modestly higher future valuation multiple, despite a slightly increased discount rate and marginally lower profit margin assumptions. Analyst Commentary Bullish analysts have reiterated a constructive stance on Haleon, underscored by a series of incremental price target increases that signal growing confidence in the company’s earnings trajectory and cash generation.
SN.
UK£12.39
Smith & Nephew
7D
1.5%
1Y
24.7%

SN.: Expanding Trading Margins Will Drive Future Upside From Improved Operating Leverage

Analysts have trimmed their price target on Smith & Nephew slightly, to approximately $14.09 from about $14.43, citing a modestly higher discount rate and slightly lower long term profit margin expectations. These factors more than offset an improved revenue growth outlook and a marginally lower future P/E multiple.
AZN
UK£137.90
AstraZeneca
7D
0.8%
1Y
29.7%
HVO
UK£0.063
hVIVO
7D
-7.4%
1Y
-67.0%

HVO: Long Term Antiviral Partnership Will Drive Future Revenue Upside

Analysts have modestly raised their price target on hVIVO to reflect a slightly lower perceived risk profile and sustained expectations for robust long term revenue growth and profitability, while keeping fair value broadly unchanged at approximately £0.17 per share. What's in the News hVIVO highlighted its long term partnership with Cidara Therapeutics on CD388, an investigational long acting, strain agnostic antiviral for high risk influenza patients.
GSK
UK£18.25
GSK
7D
1.1%
1Y
34.0%
GNS
UK£25.95
Genus
7D
1.6%
1Y
66.3%

GNS: Gene Editing Platform Will Shape Balanced Medium-Term Upside And Execution Risks

Genus's analyst price target has been raised from about £18.80 to £24.00 per share as analysts highlight the upside from its gene editing platform and reaffirm Buy ratings alongside recent target hikes from major banks. Analyst Commentary Recent research updates underscore a constructive stance on Genus, with buy ratings supported by the view that its gene editing platform could materially expand medium term earnings power.
HIK
UK£15.50
Hikma Pharmaceuticals
7D
1.1%
1Y
-23.0%
CTEC
UK£2.43
Convatec Group
7D
2.2%
1Y
10.3%

Convatec Group's (LON:CTEC) Returns On Capital Are Heading Higher

Dec 19
Convatec Group's (LON:CTEC) Returns On Capital Are Heading Higher
STX
UK£0.099
Shield Therapeutics
7D
-8.4%
1Y
271.7%

STX: Future US Label Expansion Could Still Leave Shares Vulnerable

Analysts have raised their price target for Shield Therapeutics from 0.03 dollars to 0.10 dollars, citing slightly stronger long term revenue growth expectations, while applying a higher discount rate and more conservative profit margin and valuation multiples. What's in the News Presentation of pediatric FORTIS PK sub study at the American Society of Hematology conference in December 2025 showed ferric maltol is well absorbed across pediatric age groups, with maltol rapidly metabolized and excreted, supporting its suitability for iron replacement in children and adolescents (company announcement).
PRTC
UK£1.25
PureTech Health
7D
-1.0%
1Y
-19.1%
AGY
UK£0.11
Allergy Therapeutics
7D
-2.2%
1Y
61.8%

Market Participants Recognise Allergy Therapeutics plc's (LON:AGY) Revenues Pushing Shares 30% Higher

Dec 16
Market Participants Recognise Allergy Therapeutics plc's (LON:AGY) Revenues Pushing Shares 30% Higher
HEMO
UK£5.72
Hemogenyx Pharmaceuticals
7D
-4.0%
1Y
36.5%
MPAL
UK£0.051
MedPal AI
7D
-12.8%
1Y
n/a
NIOX
UK£0.66
NIOX Group
7D
-2.4%
1Y
7.1%