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U.K. (FTSE) Healthcare Sector Analysis

UpdatedJul 13, 2026
DataAggregated Company Financials
Companies85
  • 7D-5.8%
  • 3M-11.3%
  • 1Y18.2%
  • YTD-2.7%

Over the last 7 days, the Healthcare industry has dropped 5.8%, driven by a pullback from AstraZeneca of 9.0%. In the past year, the industry has gained 18%. Earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 13 Jul 2026UK£337.4bUK£103.2bUK£16.1b25.7x20.9x3.3x
Wed, 10 Jun 2026UK£345.4bUK£103.3bUK£16.1b27.6x21.4x3.3x
Fri, 08 May 2026UK£343.2bUK£102.4bUK£16.0b25.9x21.4x3.4x
Sun, 05 Apr 2026UK£385.0bUK£102.6bUK£16.2b20.6x23.8x3.8x
Tue, 03 Mar 2026UK£396.6bUK£101.2bUK£16.0b23.5x24.8x3.9x
Thu, 29 Jan 2026UK£346.4bUK£98.9bUK£14.8b25.2x23.4x3.5x
Sat, 27 Dec 2025UK£347.0bUK£100.1bUK£15.0b21.9x23.2x3.5x
Mon, 24 Nov 2025UK£350.0bUK£101.6bUK£15.2b23.8x23.1x3.4x
Wed, 22 Oct 2025UK£324.0bUK£98.7bUK£12.1b25.9x26.8x3.3x
Fri, 19 Sep 2025UK£299.7bUK£100.6bUK£12.0b28.8x24.9x3x
Sun, 17 Aug 2025UK£304.5bUK£100.5bUK£12.0b29.3x25.4x3x
Tue, 15 Jul 2025UK£286.8bUK£97.1bUK£10.8b30.2x26.5x3x
Thu, 12 Jun 2025UK£298.3bUK£96.9bUK£10.7b29.5x27.8x3.1x
Sat, 10 May 2025UK£281.4bUK£97.9bUK£10.8b30.2x25.9x2.9x
Mon, 07 Apr 2025UK£288.1bUK£98.7bUK£9.7b28.7x29.7x2.9x
Wed, 05 Mar 2025UK£317.6bUK£99.2bUK£9.7b29.6x32.8x3.2x
Fri, 31 Jan 2025UK£262.4bUK£86.4bUK£7.7b30.2x34.1x3x
Sun, 29 Dec 2024UK£246.0bUK£85.9bUK£7.6b31.3x32.2x2.9x
Tue, 26 Nov 2024UK£247.4bUK£86.0bUK£7.7b27.7x32.3x2.9x
Thu, 24 Oct 2024UK£274.1bUK£83.1bUK£8.9b25.6x30.6x3.3x
Sat, 21 Sep 2024UK£276.9bUK£81.6bUK£8.8b29.3x31.5x3.4x
Mon, 19 Aug 2024UK£299.6bUK£82.8bUK£9.0b33.9x33.5x3.6x
Wed, 17 Jul 2024UK£279.7bUK£80.8bUK£9.3b31.8x30.1x3.5x
Fri, 14 Jun 2024UK£289.5bUK£81.5bUK£9.4b31.2x30.8x3.6x
Sun, 12 May 2024UK£296.7bUK£82.4bUK£9.5b34.4x31.4x3.6x
Tue, 09 Apr 2024UK£263.2bUK£81.0bUK£9.6b32.6x27.4x3.3x
Thu, 07 Mar 2024UK£258.6bUK£80.5bUK£9.5b35.1x27.1x3.2x
Sat, 03 Feb 2024UK£272.1bUK£84.9bUK£9.5b38.7x28.6x3.2x
Mon, 01 Jan 2024UK£270.1bUK£83.8bUK£10.6b40.4x25.4x3.2x
Wed, 29 Nov 2023UK£255.9bUK£84.0bUK£10.7b39.6x24x3x
Fri, 27 Oct 2023UK£266.7bUK£86.3bUK£10.3b39.9x25.8x3.1x
Sun, 24 Sep 2023UK£282.1bUK£85.8bUK£10.3b40.3x27.3x3.3x
Tue, 22 Aug 2023UK£268.9bUK£83.9bUK£10.1b39.7x26.5x3.2x
Thu, 20 Jul 2023UK£267.7bUK£82.0bUK£7.8b46x34.2x3.3x
Price to Earnings Ratio

34.2x


Total Market Cap: UK£267.7bTotal Earnings: UK£7.8bTotal Revenue: UK£82.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Healthcare Sector Price to Earnings3Y Average 27.4x202420252026
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 20.9x which is lower than its 3-year average PE of 27.4x.
  • The industry is trading close to its 3-year average PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 27% per year over the last three years.
  • Revenues for these companies have grown 8.0% 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 U.K. Healthcare sector?

GB Market-1.38%
Healthcare-5.76%
Healthtech1.80%
Healthcare Services0.12%
Medical Equipment-0.70%
Life Sciences-4.03%
Biotech-5.53%
Pharma-6.05%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 36.6x.
    • Analysts are expecting annual earnings growth of 33.3%, which is higher than its past year's earnings decline of 18.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Life Sciences industry, expecting annual earnings growth of 56% over the next 5 years.
  • In contrast, the Pharma industry is expected to see its earnings grow by 10.0% 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
HLN HaleonUK£3.651.8%
+UK£573.0m		-0.6%PE19.3x
SN. Smith & NephewUK£11.551.6%
+UK£156.0m		3.2%PE20.9x
HIK Hikma PharmaceuticalsUK£15.741.9%
+UK£63.1m		-20.3%PE11x
OXB Oxford BiomedicaUK£6.546.3%
+UK£47.2m		76.8%PS4.7x
CRW CranewareUK£11.523.4%
+UK£12.9m		-49.3%PE23.3x

Latest News

GSK
UK£19.54
GSK
7D
-1.5%
1Y
37.1%
CRW
UK£11.52
Craneware
7D
3.4%
1Y
-49.3%
AZN
UK£126.10
AstraZeneca
7D
-10.6%
1Y
18.3%
SN.
UK£11.55
Smith & Nephew
7D
1.6%
1Y
3.2%
Narrative Update • Jul 09

SN.: Buybacks And Robotics Platform Rollout Will Support Future Upside

Analysts have adjusted their fair value estimate for Smith & Nephew from £14.04 to £13.69, reflecting updated assumptions on the discount rate, revenue growth, profit margins and future P/E multiples. What’s in the News for Smith & Nephew Completed first clinical cases using the CORI XT Handheld Robotics Platform across both knee and shoulder arthroplasty, an early step in rolling out Smith & Nephew’s latest handheld robotics technology in hospital and ambulatory surgery center settings.
AVCT
UK£0.69
Avacta Group
7D
-6.2%
1Y
114.1%
GNS
UK£20.34
Genus
7D
-9.5%
1Y
-9.0%
Narrative Update • Jul 07

GNS: Gene Editing Progress Will Drive Medium-Term Upside Potential

Analysts have updated their view on Genus with a revised price target of about £22.94 from £25.50, reflecting recalibrated assumptions on fair value, discount rate, revenue growth, profit margins and future P/E after a mix of bullish and neutral recent coverage. Analyst Commentary on Genus Recent coverage on Genus has been mixed, with a new bullish initiation from JPMorgan set against more neutral commentary from other houses.
CTEC
UK£2.15
Convatec Group
7D
-2.5%
1Y
-17.1%
PRTC
UK£1.23
PureTech Health
7D
3.0%
1Y
-7.4%
HCM
UK£1.72
HUTCHMED (China)
7D
-5.8%
1Y
-28.1%
HLN
UK£3.65
Haleon
7D
1.8%
1Y
-0.6%
Narrative Update • Jul 01

HLN: Lower Forward P E Assumptions Will Pressure Future Share Price

Haleon’s analyst price target has been trimmed by £0.10 to £3.15, as analysts factor in a slightly lower assumed future P/E, alongside recent Street moves that have reduced targets and, in one case, shifted the stock to a Neutral stance. Analyst Commentary Recent Street research on Haleon points to a more cautious tone, with several bearish analysts trimming price targets and reassessing risk around valuation, execution and future growth assumptions.
ONT
UK£1.16
Oxford Nanopore Technologies
7D
-7.8%
1Y
-23.9%
HIK
UK£15.74
Hikma Pharmaceuticals
7D
1.9%
1Y
-20.3%
EDX
UK£0.10
EDX Medical Group
7D
27.3%
1Y
-12.5%
CVSG
UK£12.49
CVS Group
7D
0.6%
1Y
3.4%
Narrative Update • Jun 24

CVSG: Share Buyback Momentum Will Support Future Upside Potential

Analysts have kept their fair value estimate for CVS Group steady at £16.40, with small adjustments to assumptions such as the discount rate and future P/E leading to only a marginal change in the overall price target narrative. What’s in the News for CVS Group CVS Group commenced a share repurchase program on May 26, 2026, committing up to £50 million to buy back its shares.
OXB
UK£6.54
Oxford Biomedica
7D
6.3%
1Y
76.8%
Narrative Update • Jun 23

OXB: Fast-Track Viral Vector Services Will Support Higher Quality Business Perception

Analysts have trimmed their Oxford Biomedica price target slightly to £11.65 from £11.70, reflecting updated assumptions around revenue growth, profit margins, and future P/E expectations. What’s in the News for Oxford Biomedica Oxford Biomedica launched a new fast-track development and manufacturing service that offers an expedited route to GMP manufacture for clients using lentiviral and adeno-associated viral vectors.
SCLP
UK£0.14
Scancell Holdings
7D
-7.8%
1Y
32.7%