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Swedish (OMX) Healthcare Sector Analysis

UpdatedJan 12, 2026
DataAggregated Company Financials
Companies151
  • 7D3.4%
  • 3M0.4%
  • 1Y-2.3%
  • YTD3.5%

Over the last 7 days, the Healthcare industry has risen 3.5%, driven by gains from Swedish Orphan Biovitrum of 5.3%. In contrast, the industry has lost 3.0% in the last 12 months. Looking forward, earnings are forecast to grow by 26% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 12 Jan 2026SEK 599.8bSEK 230.2bSEK 3.7b41x163.5x2.6x
Wed, 10 Dec 2025SEK 582.0bSEK 230.6bSEK 3.5b41.2x164.2x2.5x
Fri, 07 Nov 2025SEK 588.5bSEK 229.2bSEK 2.8b45.4x212.8x2.6x
Sun, 05 Oct 2025SEK 614.1bSEK 227.1bSEK 6.6b43.2x93x2.7x
Tue, 02 Sep 2025SEK 623.8bSEK 227.1bSEK 6.6b46.1x94.7x2.7x
Thu, 31 Jul 2025SEK 632.0bSEK 226.9bSEK 6.5b54.1x96.6x2.8x
Sat, 28 Jun 2025SEK 616.8bSEK 226.8bSEK 5.9b44.9x105.1x2.7x
Mon, 26 May 2025SEK 587.3bSEK 226.0bSEK 6.6b37x89.3x2.6x
Wed, 23 Apr 2025SEK 549.9bSEK 222.1bSEK 5.0b37.5x110.7x2.5x
Fri, 21 Mar 2025SEK 558.9bSEK 206.3bSEK 5.0b37x112x2.7x
Sun, 16 Feb 2025SEK 594.9bSEK 206.4bSEK 2.5b41.7x236.5x2.9x
Tue, 14 Jan 2025SEK 571.2bSEK 201.6b-SEK 2,648,325,362.5039.2x-215.7x2.8x
Thu, 12 Dec 2024SEK 575.6bSEK 202.8b-SEK 2,465,020,947.5338.6x-233.5x2.8x
Sat, 09 Nov 2024SEK 528.5bSEK 200.2b-SEK 2,597,706,631.9538.6x-203.4x2.6x
Mon, 07 Oct 2024SEK 607.5bSEK 200.2b-SEK 2,782,910,611.7639.8x-218.3x3x
Wed, 04 Sep 2024SEK 607.0bSEK 200.0b-SEK 2,809,391,402.8740x-216.1x3x
Fri, 02 Aug 2024SEK 584.7bSEK 199.7b-SEK 2,762,785,972.7841.1x-211.6x2.9x
Sun, 30 Jun 2024SEK 562.0bSEK 195.7b-SEK 3,202,643,667.9236.8x-175.5x2.9x
Tue, 28 May 2024SEK 552.0bSEK 196.0b-SEK 2,798,220,083.8936.2x-197.3x2.8x
Thu, 25 Apr 2024SEK 521.0bSEK 194.1b-SEK 3,331,281,004.7543.9x-156.4x2.7x
Sat, 23 Mar 2024SEK 519.8bSEK 192.7b-SEK 3,669,066,937.9843.3x-141.7x2.7x
Mon, 19 Feb 2024SEK 516.9bSEK 191.7b-SEK 4,080,444,504.7249.9x-126.7x2.7x
Wed, 17 Jan 2024SEK 551.4bSEK 191.7b-SEK 967,683,823.0048.2x-569.8x2.9x
Fri, 15 Dec 2023SEK 517.8bSEK 191.2b-SEK 999,563,618.0048.9x-518x2.7x
Sun, 12 Nov 2023SEK 470.7bSEK 190.4b-SEK 1,080,492,686.0049.4x-435.7x2.5x
Tue, 10 Oct 2023SEK 439.1bSEK 185.1b-SEK 2,032,014,505.0033.8x-216.1x2.4x
Thu, 07 Sep 2023SEK 457.1bSEK 185.8b-SEK 2,013,608,879.0035.8x-227x2.5x
Sat, 05 Aug 2023SEK 473.1bSEK 183.9b-SEK 1,003,843,769.0039.9x-471.3x2.6x
Mon, 03 Jul 2023SEK 480.3bSEK 179.2b-SEK 793,306,793.0044.7x-605.5x2.7x
Wed, 31 May 2023SEK 504.9bSEK 178.9b-SEK 549,905,700.0043.5x-918.2x2.8x
Fri, 28 Apr 2023SEK 513.3bSEK 174.8b-SEK 1,487,139,903.0035.1x-345.1x2.9x
Sun, 26 Mar 2023SEK 482.3bSEK 172.4b-SEK 1,417,086,752.0035.3x-340.4x2.8x
Tue, 21 Feb 2023SEK 505.5bSEK 169.8b-SEK 615,986,485.0038.8x-820.7x3x
Thu, 19 Jan 2023SEK 520.5bSEK 165.7bSEK 670.8m33.6x775.9x3.1x
Price to Earnings Ratio

775.9x


Total Market Cap: SEK 520.5bTotal Earnings: SEK 670.8mTotal Revenue: SEK 165.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -137.6x202420252026
Current Industry PE
  • Investors are optimistic on the Swedish Healthcare industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 163x which is higher than its 3-year average PE of -137x.
  • The industry is trading close to its 3-year average PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 76% per year over the last three years.
  • Revenues for these companies have grown 12% 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 Swedish Healthcare sector?

SE Market2.44%
Healthcare3.40%
Pharma6.10%
Biotech4.12%
Healthcare Services3.95%
Medical Equipment2.68%
Life Sciences2.36%
Healthtech-0.15%
Industry PE
  • Investors are most optimistic about the Healthtech industry even though it's trading below its 3-year average PE ratio of 121x.
    • Analysts are expecting annual earnings growth of 17.7%, which is lower than the prior year's growth of 46.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Pharma industry, expecting annual earnings growth of 35% over the next 5 years.
  • However this is lower than its past earnings growth rate of 97% per year.
  • In contrast, the Healthtech industry is expected to see its earnings grow by 18% 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
SOBI Swedish Orphan BiovitrumSEK 347.804.2%
+SEK 4.8b		8.4%PE9220.9x
CAMX CamurusSEK 665.008.8%
+SEK 3.2b		13.7%PE50.7x
BIOA B BioArcticSEK 333.007.6%
+SEK 2.1b		70.0%PE29.5x
GETI B GetingeSEK 224.402.7%
+SEK 1.6b		20.0%PE29.8x
MCOV B MedicoverSEK 218.505.0%
+SEK 1.6b		15.5%PE45.8x

Latest News

VITR
SEK 130.50
Vitrolife
7D
-0.6%
1Y
-34.9%

VITR: Restructuring And Goodwill Impairment Will Support Future Upside Potential

Analysts have maintained their fair value estimate for Vitrolife at SEK 188.75, with only minor technical adjustments to the discount rate and future P/E assumptions shaping the updated price target narrative. What's in the News Vitrolife plans to record a goodwill impairment of SEK 5.4b in the fourth quarter of 2025, related to the Igenomix acquisition (company announcement).
CAMX
SEK 665.00
Camurus
7D
8.8%
1Y
13.7%
BIOA B
SEK 333.00
BioArctic
7D
7.6%
1Y
70.0%

BIOA B: Future Earnings Will Depend On Risky Alzheimer Access Rollout

Analysts have maintained their fair value estimate for BioArctic at SEK 230.00. They have, however, adjusted assumptions related to the discount rate, revenue trends, profit margins, and future P/E to reflect updated views on the company’s risk profile and earnings potential.
ASKER
SEK 85.90
Asker Healthcare Group
7D
4.4%
1Y
n/a
SOBI
SEK 347.80
Swedish Orphan Biovitrum
7D
4.2%
1Y
8.4%

SOBI: Pipeline Milestones And Buy Rating Are Expected To Shape Returns

Analysts have raised their price target on Swedish Orphan Biovitrum from SEK 367.09 to about SEK 371.18, reflecting updated assumptions around discount rate, profit margin and a slightly higher future P/E, along with recent research that included an upgrade to Buy with a SEK 370 target. Analyst Commentary Bullish Takeaways Bullish analysts point to the SEK 370 price target as support for the view that the revised assumptions on discount rate, profit margin and future P/E still leave room for upside versus the previous framework.
VIMIAN
SEK 32.52
Vimian Group
7D
6.0%
1Y
-12.2%

VIMIAN: Rebased Expectations Will Highlight Execution On M&A-Led Expansion Narrative

Analysts have lowered their fair value estimate for Vimian Group from SEK 51.65 to SEK 41.97, citing more cautious assumptions on revenue growth and valuation multiples in line with recent price target cuts, including the move to SEK 27 from SEK 37 in Barclays' 2026 industry outlook. Analyst Commentary Recent research points to a more cautious stance on Vimian Group, with fair value and price targets recalibrated to reflect updated assumptions on revenue growth and sector valuation.
SECT B
SEK 238.80
Sectra
7D
-0.3%
1Y
-9.6%

SECT B: Cloud Imaging Contracts Will Support Stable Earnings Multiples And Balanced Outlook

Analysts have maintained their Sectra fair value estimate at SEK245.00, citing essentially unchanged assumptions for the discount rate, revenue growth, profit margin and future P/E, which together support a stable price target view. What's in the News Sectra will provide four NHS trusts in Lancashire and South Cumbria with a single Sectra One Cloud enterprise imaging solution, covering 15 hospitals and supporting care for around 1.8 million people through a unified radiology and breast imaging platform (Client Announcements).
EKTA B
SEK 60.00
Elekta
7D
5.4%
1Y
-1.8%

EKTA B: Earnings Headwinds From FX And Tariffs Will Persist

Analysts have maintained their price target for Elekta at €39.00, making only modest adjustments to assumptions on discount rate, revenue growth, profit margin and future P/E. These changes consolidate their existing view rather than signaling a major shift in outlook.
GETI B
SEK 224.40
Getinge
7D
2.7%
1Y
20.0%

Some Shareholders Feeling Restless Over Getinge AB (publ)'s (STO:GETI B) P/E Ratio

Jan 02
Some Shareholders Feeling Restless Over Getinge AB (publ)'s (STO:GETI B) P/E Ratio
EGTX
SEK 4.53
Egetis Therapeutics
7D
-9.9%
1Y
-23.2%
MCOV B
SEK 218.50
Medicover
7D
5.0%
1Y
15.5%

MCOV B: MRD Study Progress Will Support Steady Long Term Outlook

Analysts have raised their price target on Medicover to SEK 230.73 per share, reflecting modestly stronger expectations for long term revenue growth and profit margins despite an essentially unchanged valuation framework. What's in the News Medicover reported additional data from the ongoing DART phase II clinical study at Oslo University Hospital, using Medicover Genetics' hybrid capture based, tumour agnostic MRD assay in unresectable stage III NSCLC patients (Key Developments).
EQL
SEK 55.40
EQL Pharma
7D
-6.4%
1Y
-28.8%
ONCO
SEK 4.57
Oncopeptides
7D
-6.3%
1Y
193.3%

ONCO: Improved Profitability And NK Cell Platform Will Drive Long-Term Upside

Analysts have raised their price target on Oncopeptides from approximately SEK 4.50 to SEK 5.50 per share, citing expectations of stronger long term profitability, supported by higher projected profit margins and a lower future price to earnings multiple, despite slightly tempered revenue growth assumptions and a modestly higher discount rate. What's in the News Panel of leading multiple myeloma experts publishes clinical recommendations in Annals of Hematology on optimal use of Pepaxti (melflufen), reinforcing its role as an important option for relapsed, refractory multiple myeloma, including elderly and high risk patients, with a manageable safety profile (company announcement).
SECARE
SEK 37.55
Swedencare
7D
-2.8%
1Y
-16.0%
RAY B
SEK 219.00
RaySearch Laboratories
7D
-1.6%
1Y
-5.2%
IMP A SDB
SEK 50.30
Implantica
7D
-3.8%
1Y
30.3%