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Norwegian (OSEAX) Healthcare Sector Analysis
UpdatedApr 16, 2026
DataAggregated Company Financials
Companies21
- 7D4.1%
- 3M-3.5%
- 1Y16.2%
- YTD-5.3%
Over the last 7 days, the Healthcare industry has risen 4.1%, driven by gains from Photocure of 23%. In the same time, Circio Holding was down 34%. This means that the industry has gained 16% over the past year. As for the next few years, earnings are expected to grow by 31% per annum.
Sector Valuation and Performance
Has the Norwegian Healthcare Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 16 Apr 2026 | NOK 17.7b | NOK 3.7b | -NOK 585,608,650.02 | 36.9x | -30.2x | 4.8x |
| Sat, 14 Mar 2026 | NOK 16.7b | NOK 3.7b | -NOK 566,615,667.21 | 34.6x | -29.5x | 4.5x |
| Mon, 09 Feb 2026 | NOK 17.4b | NOK 3.7b | -NOK 601,325,730.42 | 27.5x | -28.9x | 4.7x |
| Wed, 07 Jan 2026 | NOK 18.5b | NOK 3.7b | -NOK 608,663,666.53 | 33.4x | -30.4x | 5x |
| Fri, 05 Dec 2025 | NOK 17.5b | NOK 3.7b | -NOK 609,617,510.10 | 32.7x | -28.7x | 4.7x |
| Sun, 02 Nov 2025 | NOK 17.8b | NOK 3.7b | -NOK 594,062,825.71 | 32.7x | -30x | 4.8x |
| Tue, 30 Sep 2025 | NOK 16.6b | NOK 3.6b | -NOK 715,166,642.96 | 25.8x | -23.3x | 4.6x |
| Thu, 28 Aug 2025 | NOK 17.6b | NOK 3.6b | -NOK 772,842,895.99 | 28x | -22.8x | 4.9x |
| Sat, 26 Jul 2025 | NOK 17.2b | NOK 3.9b | -NOK 1,043,836,654.08 | 26.7x | -16.5x | 4.4x |
| Mon, 23 Jun 2025 | NOK 16.7b | NOK 3.9b | -NOK 1,057,119,529.85 | 27.2x | -15.8x | 4.3x |
| Wed, 21 May 2025 | NOK 17.2b | NOK 3.9b | -NOK 1,076,674,570.50 | 22.7x | -16x | 4.4x |
| Fri, 18 Apr 2025 | NOK 15.6b | NOK 3.5b | -NOK 1,218,105,103.62 | 17x | -12.8x | 4.5x |
| Sun, 16 Mar 2025 | NOK 16.3b | NOK 3.4b | -NOK 1,242,731,227.59 | 16.9x | -13.1x | 4.7x |
| Tue, 11 Feb 2025 | NOK 17.1b | NOK 3.7b | -NOK 1,151,282,262.57 | 24.8x | -14.8x | 4.6x |
| Thu, 09 Jan 2025 | NOK 16.0b | NOK 3.8b | -NOK 1,108,435,553.68 | 24.7x | -14.5x | 4.3x |
| Sat, 07 Dec 2024 | NOK 15.2b | NOK 3.7b | -NOK 983,200,778.12 | 21.6x | -15.5x | 4.1x |
| Mon, 04 Nov 2024 | NOK 16.9b | NOK 4.0b | -NOK 940,255,049.19 | 21.4x | -18x | 4.2x |
| Wed, 02 Oct 2024 | NOK 18.0b | NOK 4.0b | -NOK 963,936,326.90 | 19.8x | -18.7x | 4.5x |
| Fri, 30 Aug 2024 | NOK 19.2b | NOK 4.0b | -NOK 888,945,278.87 | 19x | -21.6x | 4.8x |
| Sun, 28 Jul 2024 | NOK 22.0b | NOK 4.0b | -NOK 983,947,545.82 | 16.7x | -22.3x | 5.5x |
| Tue, 25 Jun 2024 | NOK 21.9b | NOK 4.1b | -NOK 943,551,872.74 | 15.4x | -23.2x | 5.3x |
| Thu, 23 May 2024 | NOK 22.1b | NOK 4.2b | -NOK 1,171,616,437.03 | 17.3x | -18.9x | 5.2x |
| Sat, 20 Apr 2024 | NOK 20.9b | NOK 4.2b | -NOK 1,126,247,203.02 | 27.7x | -18.6x | 5x |
| Mon, 18 Mar 2024 | NOK 21.6b | NOK 4.2b | -NOK 1,083,284,989.41 | 27.7x | -19.9x | 5.1x |
| Wed, 14 Feb 2024 | NOK 28.7b | NOK 4.1b | -NOK 1,304,616,825.48 | 23.9x | -22x | 7x |
| Fri, 12 Jan 2024 | NOK 30.3b | NOK 4.1b | -NOK 1,581,485,208.00 | 23.7x | -19.1x | 7.4x |
| Sun, 10 Dec 2023 | NOK 27.9b | NOK 4.1b | -NOK 1,596,042,021.00 | 22.1x | -17.5x | 6.8x |
| Tue, 07 Nov 2023 | NOK 26.6b | NOK 3.5b | -NOK 1,829,987,217.00 | 26.5x | -14.6x | 7.6x |
| Thu, 05 Oct 2023 | NOK 28.0b | NOK 3.6b | -NOK 1,809,002,244.00 | 33x | -15.5x | 7.9x |
| Sat, 02 Sep 2023 | NOK 28.6b | NOK 3.6b | -NOK 1,777,317,508.00 | 31.9x | -16.1x | 7.9x |
| Mon, 31 Jul 2023 | NOK 29.7b | NOK 3.4b | -NOK 1,820,814,582.00 | 29.9x | -16.3x | 8.8x |
| Wed, 28 Jun 2023 | NOK 28.4b | NOK 3.4b | -NOK 1,797,908,715.00 | 42.5x | -15.8x | 8.4x |
| Fri, 26 May 2023 | NOK 30.7b | NOK 3.4b | -NOK 1,825,398,740.00 | 43.8x | -16.8x | 9.1x |
| Sun, 23 Apr 2023 | NOK 31.0b | NOK 3.1b | -NOK 1,781,340,360.00 | 31.1x | -17.4x | 9.8x |
Price to Earnings Ratio
-17.4x
Current Industry PE
- Investors are pessimistic on the Norwegian Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The 3-year average PS ratio of 5.7x is higher than the industry's current PS ratio of 4.8x.
Past Earnings Growth
- The earnings for companies in the Healthcare industry have improved over the last three years.
- Revenues for these companies have grown 5.6% per year.
- This means that more sales are being generated by these companies overall, and subsequently losses are decreasing too.
Industry Trends
Which industries have driven the changes within the Norwegian Healthcare sector?
| NO Market | -0.40% | |
| Healthcare | 4.09% | |
| Pharma | 13.03% | |
| Medical Equipment | 4.68% | |
| Biotech | 0.36% | |
| Healthtech | 0.056% | |
| Healthcare Services | -2.02% | |
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 12.0%, which is higher than its past year's earnings decline of 8.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthtech industry, expecting annual earnings growth of 85% over the next 5 years.
- This is better than its past earnings decline of 97% per year.
- In contrast, the Medical Equipment industry is expected to see its earnings grow by 12% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| PHO Photocure | NOK 72.10 | 22.6% +NOK 353.9m | 33.0% | PS3.6x | |
| MEDI Medistim | NOK 232.00 | 5.5% +NOK 219.4m | 43.2% | PE26.6x | |
| ZLNA Zelluna | NOK 24.70 | 29.3% +NOK 147.1m | 76.5% | PB7.6x | |
| SOFTX SoftOx Solutions | NOK 0.13 | 19.4% +NOK 54.4m | 109.4% | PS21.5x | |
| OMDA Omda | NOK 39.60 | 7.0% +NOK 53.3m | -0.8% | PE122.9x |
