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Norwegian (OSEAX) Healthcare Sector Analysis

UpdatedAug 30, 2026
DataAggregated Company Financials
Companies21
  • 7D0.5%
  • 3M8.2%
  • 1Y-18.2%
  • YTD-4.8%

Last week, the Healthcare industry hasn't moved much but Circio Holding is up 44% in that time. Unfortunately though, the industry is down 18% over the past 12 months. Looking forward, earnings are forecast to grow by 30% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 30 Aug 2026NOK 18.5bNOK 3.6b-NOK 844,310,272.2023.6x-21.9x5.1x
Tue, 28 Jul 2026NOK 17.1bNOK 3.5b-NOK 766,954,427.4126.5x-22.3x4.8x
Thu, 25 Jun 2026NOK 17.1bNOK 3.9b-NOK 633,594,734.6322.9x-26.9x4.4x
Sat, 23 May 2026NOK 17.4bNOK 3.9b-NOK 606,325,095.1123.6x-28.7x4.5x
Mon, 20 Apr 2026NOK 18.0bNOK 3.7b-NOK 585,216,836.3239.2x-30.7x4.9x
Wed, 18 Mar 2026NOK 16.7bNOK 3.7b-NOK 563,090,377.4334.9x-29.7x4.5x
Fri, 13 Feb 2026NOK 17.4bNOK 3.7b-NOK 627,918,191.7145.6x-27.6x4.7x
Sun, 11 Jan 2026NOK 18.7bNOK 3.7b-NOK 609,305,144.2933.2x-30.7x5x
Tue, 09 Dec 2025NOK 17.5bNOK 3.7b-NOK 610,116,638.3032.1x-28.7x4.7x
Thu, 06 Nov 2025NOK 17.5bNOK 3.7b-NOK 617,424,484.5433.2x-28.4x4.7x
Sat, 04 Oct 2025NOK 16.9bNOK 3.6b-NOK 714,268,257.9126.7x-23.7x4.7x
Mon, 01 Sep 2025NOK 17.7bNOK 3.6b-NOK 768,333,623.3527.6x-23.1x4.9x
Wed, 30 Jul 2025NOK 17.4bNOK 3.9b-NOK 1,043,666,298.7727.1x-16.6x4.4x
Fri, 27 Jun 2025NOK 16.8bNOK 3.9b-NOK 1,057,251,393.2327.6x-15.9x4.3x
Sun, 25 May 2025NOK 16.9bNOK 3.9b-NOK 1,266,963,245.3427.6x-13.4x4.3x
Tue, 22 Apr 2025NOK 15.6bNOK 3.5b-NOK 1,218,256,741.1917x-12.8x4.5x
Thu, 20 Mar 2025NOK 16.5bNOK 3.4b-NOK 1,319,030,434.7517.9x-12.5x4.8x
Sat, 15 Feb 2025NOK 17.1bNOK 3.8b-NOK 1,119,298,419.8825x-15.3x4.6x
Mon, 13 Jan 2025NOK 15.9bNOK 3.7b-NOK 1,063,571,515.9924.7x-15x4.3x
Wed, 11 Dec 2024NOK 17.2bNOK 4.0b-NOK 1,107,654,875.8024.6x-15.5x4.3x
Fri, 08 Nov 2024NOK 16.2bNOK 4.0b-NOK 959,309,561.6521.5x-16.9x4.1x
Sun, 06 Oct 2024NOK 18.2bNOK 4.0b-NOK 964,987,313.9920.3x-18.8x4.5x
Tue, 03 Sep 2024NOK 19.0bNOK 4.0b-NOK 878,785,896.9018.5x-21.6x4.7x
Thu, 01 Aug 2024NOK 22.4bNOK 4.0b-NOK 978,084,263.7116.6x-22.9x5.6x
Sat, 29 Jun 2024NOK 22.4bNOK 4.1b-NOK 950,137,057.3615.9x-23.5x5.4x
Mon, 27 May 2024NOK 22.5bNOK 4.2b-NOK 1,167,071,325.3517.6x-19.3x5.3x
Wed, 24 Apr 2024NOK 21.2bNOK 4.2b-NOK 1,132,786,937.6927.5x-18.7x5.1x
Fri, 22 Mar 2024NOK 21.4bNOK 4.2b-NOK 1,085,536,249.1826.9x-19.7x5.1x
Sun, 18 Feb 2024NOK 28.2bNOK 4.1b-NOK 1,242,778,617.5122.8x-22.7x6.8x
Tue, 16 Jan 2024NOK 30.4bNOK 4.1b-NOK 1,583,649,218.0024.1x-19.2x7.4x
Thu, 14 Dec 2023NOK 28.3bNOK 4.1b-NOK 1,597,276,613.0022.4x-17.7x6.9x
Sat, 11 Nov 2023NOK 26.2bNOK 3.7b-NOK 1,749,027,033.0024.5x-15x7.2x
Mon, 09 Oct 2023NOK 27.2bNOK 3.6b-NOK 1,805,203,862.0033.3x-15.1x7.6x
Wed, 06 Sep 2023NOK 28.3bNOK 3.6b-NOK 1,778,314,758.0031.7x-15.9x8x
Price to Earnings Ratio

-15.9x


Total Market Cap: NOK 28.3bTotal Earnings: -NOK 1,778,314,758.00Total Revenue: NOK 3.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Healthcare Sector Price to Earnings3Y Average -20.7x202420252026
Current Industry PE
  • Investors are relatively neutral on the Norwegian 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 PS ratio of 5.1x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have improved over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since losses are shrinking while sales have been flat.

Industry Trends

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

NO Market0.0013%
Healthcare0.50%
Healthtech4.99%
Medical Equipment4.00%
Pharma1.35%
Biotech-3.04%
Healthcare Services-10.19%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 22.2%, which is lower than the prior year's growth of 26.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthtech industry, expecting annual earnings growth of 81% over the next 5 years.
  • This is better than its past earnings growth rate of 41% per year.
  • In contrast, the Pharma industry is expected to see its earnings decline by 6.1% 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
CRNA Circio HoldingNOK 13.2043.8%
+NOK 957.1m		2,056.9%PE-68.5x
MEDI MedistimNOK 258.004.9%
+NOK 219.5m		-2.6%PE28.6x
ZLNA ZellunaNOK 25.1012.6%
+NOK 82.4m		74.5%PB7x
NORDH NordhealthNOK 24.203.4%
+NOK 63.1m		-34.6%PS3.3x
LYTIX Lytix BiopharmaNOK 8.3210.9%
+NOK 63.1m		4.3%PB7.4x

Latest News

ZLNA
NOK 25.10
Zelluna
7D
12.6%
1Y
74.5%
Analysis Article • Aug 29

Here's Why We're Watching Zelluna's (OB:ZLNA) Cash Burn Situation

Just because a business does not make any money, does not mean that the stock will go down. For example, although...
TRMED
NOK 6.01
Thor Medical
7D
-10.2%
1Y
87.8%
ABS
NOK 2.69
Arctic Bioscience
7D
-6.3%
1Y
-29.9%
LYTIX
NOK 8.32
Lytix Biopharma
7D
10.9%
1Y
4.3%
CONTX
NOK 4.08
ContextVision
7D
14.9%
1Y
-8.1%
OBSRV
NOK 0.98
Observe Medical
7D
-10.3%
1Y
1.2%
CRNA
NOK 13.20
Circio Holding
7D
43.8%
1Y
2,056.9%
MEDI
NOK 258.00
Medistim
7D
4.9%
1Y
-2.6%
Analysis Article • Aug 26

Earnings Beat: Medistim ASA Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Medistim ASA ( OB:MEDI ) investors will be delighted, with the company turning in some strong numbers with its latest...
HBC
NOK 1.43
Hofseth BioCare
7D
6.3%
1Y
-23.3%
VISTN
NOK 19.05
Vistin Pharma
7D
-1.3%
1Y
-20.0%
NORDH
NOK 24.20
Nordhealth
7D
3.4%
1Y
-34.6%
AZT
NOK 20.50
ArcticZymes Technologies
7D
-1.4%
1Y
-27.8%
Analysis Article • Aug 18

ArcticZymes Technologies ASA Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Investors in ArcticZymes Technologies ASA ( OB:AZT ) had a good week, as its shares rose 3.1% to close at kr20.10...
NAVA
NOK 14.65
Navamedic
7D
-5.8%
1Y
-32.5%
New Narrative • Aug 15

Own Products And International Expansion Will Drive Long Term Upside Potential

Catalysts About Navamedic Navamedic is a pharmaceutical company focused on prescription drugs, hospital products and consumer health across the Nordics and selected European markets. What are the underlying business or industry changes driving this perspective?
PHO
NOK 55.80
Photocure
7D
3.1%
1Y
-9.3%
NYKD
NOK 4.30
Nykode Therapeutics
7D
-4.7%
1Y
179.2%
Analysis Article • Jul 25

Here's Why We're Watching Nykode Therapeutics' (OB:NYKD) Cash Burn Situation

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
INIFY
NOK 7.05
INIFY Laboratories
7D
-10.2%
1Y
36.9%