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Swedish (OMX) Healthcare Sector Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies152
  • 7D-2.2%
  • 3M-7.1%
  • 1Y-5.2%
  • YTD-4.8%

Over the last 7 days, the Healthcare industry has dropped 2.2%, driven by Swedish Orphan Biovitrum declining 4.8%. In contrast, Sectra has gained 9.4%. Overall the industry is down 5.2% in 12 months. As for the next few years, earnings are expected to grow by 25% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Mar 2026SEK 555.1bSEK 228.5b-SEK 2,953,839,199.3229.5x-187.9x2.4x
Wed, 04 Feb 2026SEK 564.6bSEK 228.8bSEK 3.3b37x171.4x2.5x
Fri, 02 Jan 2026SEK 588.5bSEK 230.5bSEK 3.7b42.2x160.1x2.6x
Sun, 30 Nov 2025SEK 606.1bSEK 230.8bSEK 3.6b42.7x168.5x2.6x
Tue, 28 Oct 2025SEK 642.6bSEK 228.1bSEK 3.5b47.9x185.4x2.8x
Thu, 25 Sep 2025SEK 602.0bSEK 227.2bSEK 6.6b43.7x91.1x2.6x
Sat, 23 Aug 2025SEK 630.3bSEK 227.2bSEK 6.3b48x100x2.8x
Mon, 21 Jul 2025SEK 630.5bSEK 227.7bSEK 6.6b46.7x94.9x2.8x
Wed, 18 Jun 2025SEK 599.5bSEK 226.4bSEK 5.8b39.4x102.9x2.6x
Fri, 16 May 2025SEK 606.2bSEK 224.9bSEK 5.6b35.4x108x2.7x
Sun, 13 Apr 2025SEK 527.1bSEK 221.7bSEK 5.4b31.8x96.9x2.4x
Tue, 11 Mar 2025SEK 547.4bSEK 206.0bSEK 4.7b35.7x116.6x2.7x
Thu, 06 Feb 2025SEK 597.4bSEK 203.8bSEK 1.6b42.7x379.9x2.9x
Sat, 04 Jan 2025SEK 588.1bSEK 202.6b-SEK 2,502,717,854.4140.4x-235x2.9x
Mon, 02 Dec 2024SEK 516.5bSEK 199.4b-SEK 2,781,058,821.9737.7x-185.7x2.6x
Wed, 30 Oct 2024SEK 543.4bSEK 198.8b-SEK 2,731,632,105.0037.1x-198.9x2.7x
Fri, 27 Sep 2024SEK 619.2bSEK 200.0b-SEK 2,815,781,310.2638.8x-219.9x3.1x
Sun, 25 Aug 2024SEK 605.5bSEK 200.0b-SEK 2,323,183,060.9437.7x-260.6x3x
Tue, 23 Jul 2024SEK 596.1bSEK 198.6b-SEK 2,821,682,071.1744.3x-211.2x3x
Thu, 20 Jun 2024SEK 548.6bSEK 195.4b-SEK 3,181,881,906.1535.5x-172.4x2.8x
Sat, 18 May 2024SEK 549.2bSEK 196.6b-SEK 2,628,506,460.6037x-208.9x2.8x
Mon, 15 Apr 2024SEK 520.3bSEK 192.9b-SEK 3,176,124,769.5445.5x-163.8x2.7x
Wed, 13 Mar 2024SEK 530.2bSEK 192.1b-SEK 3,677,406,617.4443.9x-144.2x2.8x
Fri, 09 Feb 2024SEK 517.6bSEK 190.8b-SEK 4,350,958,868.3150.3x-119x2.7x
Sun, 07 Jan 2024SEK 537.1bSEK 191.4b-SEK 966,074,470.0046.6x-555.9x2.8x
Tue, 05 Dec 2023SEK 502.4bSEK 190.5b-SEK 1,085,960,442.0051.7x-462.6x2.6x
Thu, 02 Nov 2023SEK 443.8bSEK 189.4b-SEK 1,110,680,428.0038.3x-399.5x2.3x
Sat, 30 Sep 2023SEK 450.7bSEK 184.9b-SEK 2,031,625,350.0035.4x-221.8x2.4x
Mon, 28 Aug 2023SEK 461.2bSEK 185.8b-SEK 1,790,799,672.0037.7x-257.5x2.5x
Wed, 26 Jul 2023SEK 479.4bSEK 182.6b-SEK 997,603,274.0041.4x-480.5x2.6x
Fri, 23 Jun 2023SEK 483.2bSEK 179.1b-SEK 795,874,311.0043.6x-607.2x2.7x
Sun, 21 May 2023SEK 525.7bSEK 177.4b-SEK 874,267,530.0043x-601.3x3x
Tue, 18 Apr 2023SEK 511.6bSEK 172.5b-SEK 1,420,278,814.0035.3x-360.2x3x
Thu, 16 Mar 2023SEK 479.0bSEK 172.3b-SEK 1,402,563,401.0035.8x-341.5x2.8x
Price to Earnings Ratio

-341.5x


Total Market Cap: SEK 479.0bTotal Earnings: -SEK 1,402,563,401.00Total Revenue: SEK 172.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -167.2x202420252026
Current Industry PE
  • Investors are pessimistic on the Swedish Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 2.7x is higher than the industry's current PS ratio of 2.4x.
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 Market-5.13%
Healthcare-2.21%
Healthtech7.66%
Healthcare Services-0.94%
Medical Equipment-2.22%
Pharma-3.70%
Biotech-4.12%
Life Sciences-4.92%
Industry PE
  • Investors are most optimistic about the Healthtech industry which is trading above its 3-year average PE ratio of 115x.
    • Analysts are expecting annual earnings growth of 21.9%, 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 17% 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
SECT B SectraSEK 212.009.1%
+SEK 3.4b		-5.1%PE76x
EKTA B ElektaSEK 62.008.5%
+SEK 1.9b		6.7%PS1.4x
ASKER Asker Healthcare GroupSEK 65.506.5%
+SEK 1.5b		n/aPE54.4x
RAY B RaySearch LaboratoriesSEK 195.805.2%
+SEK 329.1m		-12.6%PE29.5x
EGTX Egetis TherapeuticsSEK 5.1613.4%
+SEK 241.0m		26.5%PS32.7x

Latest News

SECT B
SEK 212.00
Sectra
7D
9.1%
1Y
-5.1%
AMBEA
SEK 132.00
Ambea
7D
1.9%
1Y
29.3%
SOBI
SEK 376.60
Swedish Orphan Biovitrum
7D
-3.0%
1Y
26.8%

SOBI: Kidney And Sepsis Advances Will Support A More Upbeat Outlook

The analyst fair value estimate for Swedish Orphan Biovitrum has been adjusted from SEK 416 to SEK 424, reflecting recent price target increases to SEK 470 and SEK 500, as well as updated analyst views on revenue growth, margins and future P/E assumptions. Analyst Commentary Recent Street research on Swedish Orphan Biovitrum presents a mix of optimism and caution around the shares, which helps frame the updated fair value estimate of SEK 424.
EKTA B
SEK 62.00
Elekta
7D
8.5%
1Y
6.7%
BIOG B
SEK 110.30
BioGaia
7D
1.6%
1Y
-3.8%

BIOG B: Extra Dividend And Solid Margins Will Support Higher Earnings Multiple

Analysts have maintained their SEK 140.0 fair value estimate for BioGaia, citing only minor adjustments to the discount rate and to long-term assumptions on revenue growth, profit margins and future P/E as the basis for keeping their price target unchanged. What's in the News BioGaia renewed and extended its distribution agreement with Ewopharma, which will now distribute a broad range of BioGaia products in more than 15 European countries, with a focus on Central Eastern Europe and Switzerland (Key Developments).
VIMIAN
SEK 25.20
Vimian Group
7D
-2.5%
1Y
-33.7%

VIMIAN: Reduced Price Outlook And Execution Risks Will Shape Fairly Balanced Prospects

Analysts have lowered their price target on Vimian Group to SEK 25 from SEK 27, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E multiples. Analyst Commentary Bearish analysts have trimmed their fair value assumptions for Vimian Group, as seen in the reduced price target to SEK 25 from SEK 27.
ALIF B
SEK 142.90
AddLife
7D
-4.9%
1Y
-4.0%
SANION
SEK 14.58
Saniona
7D
-10.7%
1Y
115.0%
EGTX
SEK 5.16
Egetis Therapeutics
7D
13.4%
1Y
26.5%
IMP A SDB
SEK 42.50
Implantica
7D
-4.9%
1Y
25.9%
GETI B
SEK 195.80
Getinge
7D
-1.2%
1Y
-8.9%

GETI B: Modest Dividend Uplift Will Not Offset Rich P/E Multiple

Narrative update on Getinge Analysts have slightly adjusted their view on Getinge, with the updated price target now set at SEK 170.97. This reflects modest tweaks to assumptions around discount rate, revenue growth, profit margin and future P/E.
BIOA B
SEK 298.80
BioArctic
7D
-1.6%
1Y
36.4%
ASKER
SEK 65.50
Asker Healthcare Group
7D
6.5%
1Y
n/a
ATT
SEK 103.80
Attendo
7D
1.0%
1Y
72.1%

ATT: Future Cash Returns And Dividend Policy Will Support Measured Prospects

Analysts have kept their SEK 110.0 price target for Attendo unchanged, citing only minor tweaks to the discount rate, long-term revenue growth, profit margin assumptions, and a slightly higher future P/E multiple in their models. What's in the News An undisclosed buyer acquired an unknown minority stake in Attendo AB (publ) from Nordstjernan AB on February 23, 2026.
MCOV B
SEK 208.50
Medicover
7D
-3.7%
1Y
3.7%

MCOV B: Higher Margin Outlook And Dividend Plans Will Support Future Upside

Analysts have nudged their Medicover price target higher to SEK257.29 from SEK252.68, citing updated assumptions that pair slightly lower revenue growth expectations with a modestly stronger profit margin and a revised future P/E of 24.46x. What's in the News 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).
RAY B
SEK 195.80
RaySearch Laboratories
7D
5.2%
1Y
-12.6%

RAY B: Expanding Adaptive Therapy Footprint And Dividend Will Support Stronger Outlook

Analysts have maintained their SEK330.00 price target for RaySearch Laboratories, citing slightly adjusted assumptions. These include a lower discount rate, more cautious revenue growth expectations, a higher profit margin outlook and a modestly reduced future P/E multiple as the key factors behind the unchanged view.