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Swedish (OMX) Healthcare Sector Analysis

UpdatedApr 10, 2026
DataAggregated Company Financials
Companies147
  • 7D1.0%
  • 3M-4.7%
  • 1Y8.1%
  • YTD-1.4%

Over the last 7 days, the Healthcare industry has remained flat, although notably Camurus gained 4.1%. The past year has been better, since the industry has gained 13% in that time. As for the next few years, earnings are expected to grow by 24% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 10 Apr 2026SEK 576.1bSEK 228.8b-SEK 2,932,862,641.8931.9x-196.4x2.5x
Sun, 08 Mar 2026SEK 555.1bSEK 228.5b-SEK 2,953,839,199.3229.5x-187.9x2.4x
Tue, 03 Feb 2026SEK 568.2bSEK 229.0bSEK 3.3b38.2x172.3x2.5x
Thu, 01 Jan 2026SEK 588.5bSEK 230.5bSEK 3.7b42.2x160.1x2.6x
Sat, 29 Nov 2025SEK 606.1bSEK 230.8bSEK 3.6b42.7x168.4x2.6x
Mon, 27 Oct 2025SEK 614.4bSEK 228.1bSEK 3.5b48.6x177.2x2.7x
Wed, 24 Sep 2025SEK 611.3bSEK 227.3bSEK 6.6b44.2x92.6x2.7x
Fri, 22 Aug 2025SEK 623.3bSEK 227.3bSEK 6.5b43.5x96.1x2.7x
Sun, 20 Jul 2025SEK 630.5bSEK 227.7bSEK 6.6b46.7x94.9x2.8x
Tue, 17 Jun 2025SEK 608.3bSEK 226.4bSEK 5.8b38.5x104.4x2.7x
Thu, 15 May 2025SEK 605.9bSEK 224.1bSEK 5.2b37.9x116.5x2.7x
Sat, 12 Apr 2025SEK 527.1bSEK 221.7bSEK 5.4b31.8x96.9x2.4x
Mon, 10 Mar 2025SEK 557.2bSEK 206.0bSEK 4.7b36x118.7x2.7x
Wed, 05 Feb 2025SEK 597.6bSEK 203.9bSEK 1.6b42.4x380.2x2.9x
Fri, 03 Jan 2025SEK 592.7bSEK 202.5b-SEK 2,502,588,235.1841.4x-236.8x2.9x
Sun, 01 Dec 2024SEK 571.3bSEK 202.5b-SEK 2,336,484,996.9738.9x-244.5x2.8x
Tue, 29 Oct 2024SEK 543.8bSEK 198.8b-SEK 2,781,796,934.8437.6x-195.5x2.7x
Thu, 26 Sep 2024SEK 611.1bSEK 200.1b-SEK 2,815,768,380.6039.6x-217x3.1x
Sat, 24 Aug 2024SEK 605.8bSEK 200.0b-SEK 2,383,805,474.0537.7x-254.1x3x
Mon, 22 Jul 2024SEK 590.0bSEK 198.5b-SEK 2,821,546,911.6143.2x-209.1x3x
Wed, 19 Jun 2024SEK 552.7bSEK 195.4b-SEK 3,170,231,286.5836x-174.3x2.8x
Fri, 17 May 2024SEK 551.7bSEK 196.7b-SEK 2,683,115,480.2436.6x-205.6x2.8x
Sun, 14 Apr 2024SEK 520.1bSEK 192.9b-SEK 3,176,124,900.5445.5x-163.8x2.7x
Tue, 12 Mar 2024SEK 525.5bSEK 192.1b-SEK 3,677,543,859.5743.4x-142.9x2.7x
Thu, 08 Feb 2024SEK 525.3bSEK 188.7b-SEK 4,154,672,859.0055.5x-126.4x2.8x
Sat, 06 Jan 2024SEK 537.0bSEK 191.4b-SEK 965,945,770.0046.6x-555.9x2.8x
Mon, 04 Dec 2023SEK 502.0bSEK 190.4b-SEK 1,085,234,395.0052.1x-462.6x2.6x
Wed, 01 Nov 2023SEK 443.5bSEK 189.4b-SEK 1,109,947,143.0038.1x-399.6x2.3x
Fri, 29 Sep 2023SEK 446.2bSEK 185.0b-SEK 2,032,201,912.0035.8x-219.6x2.4x
Sun, 27 Aug 2023SEK 461.2bSEK 185.8b-SEK 1,523,927,456.0037.7x-302.6x2.5x
Tue, 25 Jul 2023SEK 475.6bSEK 182.7b-SEK 1,000,275,031.0041.6x-475.5x2.6x
Thu, 22 Jun 2023SEK 483.1bSEK 179.2b-SEK 797,456,967.0044.3x-605.8x2.7x
Sat, 20 May 2023SEK 524.7bSEK 177.3b-SEK 831,549,060.0043x-631x3x
Mon, 17 Apr 2023SEK 513.9bSEK 172.6b-SEK 1,429,319,376.0035.8x-359.5x3x
Price to Earnings Ratio

-359.5x


Total Market Cap: SEK 513.9bTotal Earnings: -SEK 1,429,319,376.00Total Revenue: SEK 172.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -162.7x202420252026
Current Industry PE
  • Investors are relatively neutral on the Swedish 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 2.7x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have deteriorated over the last three years.
  • Meanwhile revenues for these companies have grown 9.9% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has caused losses to expand.

Industry Trends

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

SE Market3.33%
Healthcare1.00%
Pharma2.68%
Life Sciences2.42%
Healthcare Services1.40%
Biotech0.72%
Medical Equipment0.68%
Healthtech0.31%
Industry PE
  • Investors are most optimistic about the Healthtech industry which is trading above its 3-year average PE ratio of 116x.
    • Analysts are expecting annual earnings growth of 20.2%, which is higher than its past year's earnings growth of 1.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Pharma industry, expecting annual earnings growth of 35% over the next 5 years.
  • This is better than its past earnings growth rate of 14% per year.
  • In contrast, the Life Sciences industry is expected to see its earnings grow by 19% 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
CAMX CamurusSEK 503.504.1%
+SEK 1.2b		-7.2%PE40.9x
BONEX Bonesupport HoldingSEK 229.207.0%
+SEK 1.0b		-23.2%PE107.6x
ASKER Asker Healthcare GroupSEK 70.002.5%
+SEK 651.2m		-7.7%PE58.2x
ALIF B AddLifeSEK 146.803.4%
+SEK 584.9m		2.1%PE31.9x
VIMIAN Vimian GroupSEK 29.603.2%
+SEK 486.9m		-24.1%PE46.1x

Latest News

SOBI
SEK 402.00
Swedish Orphan Biovitrum
7D
0.3%
1Y
60.4%
BONEX
SEK 229.20
Bonesupport Holding
7D
7.0%
1Y
-23.2%
MCOV B
SEK 190.60
Medicover
7D
1.6%
1Y
-3.5%

MCOV B: Dividend Growth And 2028 Revenue Ambitions Will Support Upside

Analysts have nudged their Medicover price target higher to SEK227.29 from SEK225.05, citing updated assumptions that reflect a slightly higher discount rate, along with revised expectations for revenue growth, profit margins and future P/E. What's in the News The board proposes a dividend of €0.20 per share for the 2025 financial year, compared with €0.15 previously, subject to approval at the annual general meeting on 29 April 2026 (Key Developments).
HUM
SEK 46.40
Humana
7D
-4.5%
1Y
8.4%

Humana's (STO:HUM) Profits May Not Reveal Underlying Issues

Apr 06
Humana's (STO:HUM) Profits May Not Reveal Underlying Issues
OSSD
SEK 5.76
OssDsign
7D
-8.9%
1Y
-56.4%

OSSD: Stable Profitability Assumptions Will Support Future Multiple Re rating

Analysts keep their SEK 12.75 price target on OssDsign unchanged, citing steady assumptions around growth, margins, and a future P/E near 113x as the basis for maintaining the current valuation. Valuation Changes Fair Value: SEK 12.75 remains unchanged, so the target valuation level is consistent with prior assumptions.
ARJO B
SEK 25.04
Arjo
7D
-1.1%
1Y
-22.5%

ARJO B: Improved Margins And Lower Risk Profile Will Support Future Upside

Analysts have slightly adjusted their price target on Arjo to SEK 34, reflecting updated assumptions for the discount rate, revenue growth, profit margin and future P/E that are broadly in line with prior estimates. Valuation Changes Fair Value: SEK 34.0 is unchanged compared with the prior SEK 34.
VIMIAN
SEK 29.60
Vimian Group
7D
3.2%
1Y
-24.1%

VIMIAN: Margin Execution And New Bylaws Will Support Future Upside Potential

Analysts have reduced their price target for Vimian Group to SEK 25 from SEK 27, citing updated assumptions on margins and valuation multiples that result in a slightly adjusted fair value model. Analyst Commentary Recent research points to a more cautious stance on Vimian Group, with the updated SEK 25 price target reflecting revised assumptions on margins and valuation multiples rather than a shift in rating.
VICO
SEK 9.80
Vicore Pharma Holding
7D
-3.7%
1Y
50.8%
EKTA B
SEK 53.65
Elekta
7D
-1.5%
1Y
14.7%

EKTA B: Future Outlook Balances Mixed Ratings With Product Adoption Progress

Analysts lifted their fair value estimate for Elekta to SEK 58.27 from SEK 56.77, reflecting a higher assumed future P/E and recent Street research, where one firm raised its price target to SEK 60 while another turned more cautious on the shares. Analyst Commentary Bullish Takeaways Bullish analysts see the higher SEK 60 price target as better aligned with the updated fair value estimate, which now builds in a higher assumed P/E multiple.
HNSA
SEK 30.74
Hansa Biopharma
7D
-5.9%
1Y
39.0%

HNSA: U.S. Kidney Transplant Approval Pathway Will Drive Potential Upside

Analysts have adjusted their price target on Hansa Biopharma by SEK 8, reflecting updated views on the risk profile and near term commercial opportunity for imlifidase, including its potential positioning in kidney transplantation and autoimmune indications. Analyst Commentary Recent research shows a mix of optimism and caution around Hansa Biopharma, with views shaped by the commercial outlook for imlifidase in kidney transplantation and autoimmune indications, as well as how quickly the company can execute on its plans.
CRNO B
SEK 6.11
Cereno Scientific
7D
-5.9%
1Y
-0.2%
CAMX
SEK 503.50
Camurus
7D
4.1%
1Y
-7.2%

CAMX: FDA Review Of Resubmitted NDA Will Drive Future Upside

Analysts have trimmed their 12 month price target for Camurus from SEK 660 to SEK 610, citing updated assumptions that include revised revenue growth, profit margin and future P/E expectations. What's in the News Camurus issued earnings guidance for 2026, with expected revenues of SEK 2.6b to SEK 2.9b and an operating result of SEK 0.9b to SEK 1.2b, framed against internal 2025 expectations (Key Developments).
ASKER
SEK 70.00
Asker Healthcare Group
7D
2.5%
1Y
-7.7%
ALIF B
SEK 146.80
AddLife
7D
3.4%
1Y
2.1%

ALIF B: Higher Margin Outlook And Dividend Policy Will Support Future Upside

Analysts have trimmed their price target for AddLife from SEK191.50 to SEK187.50, citing updated assumptions on the discount rate, revenue growth, profit margin and future P/E levels. What's in the News AddLife AB (publ) announced an annual dividend of SEK 1.5000 per share, with an ex date on May 7, 2026, a record date on May 8, 2026, and a payment date on May 13, 2026 (Key Developments).
FLERIE
SEK 28.80
Flerie
7D
-3.0%
1Y
-29.8%
IMP A SDB
SEK 47.50
Implantica
7D
3.4%
1Y
66.4%