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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 3.0%. Meanwhile, Sectra actually outperformed within the industry, gaining 9.1% in the last week. 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
Tue, 10 Mar 2026SEK 555.1bSEK 228.5b-SEK 2,953,839,199.3229.5x-187.9x2.4x
Thu, 05 Feb 2026SEK 566.4bSEK 229.0b-SEK 2,160,719,235.0036.8x-262.1x2.5x
Sat, 03 Jan 2026SEK 579.5bSEK 230.5bSEK 3.7b41.3x157.6x2.5x
Mon, 01 Dec 2025SEK 606.1bSEK 230.8bSEK 3.6b42.7x168.6x2.6x
Wed, 29 Oct 2025SEK 610.6bSEK 228.1bSEK 3.5b47.2x176.8x2.7x
Fri, 26 Sep 2025SEK 592.7bSEK 227.2bSEK 6.6b43.1x89.7x2.6x
Sun, 24 Aug 2025SEK 631.7bSEK 227.2bSEK 6.3b49.1x100.4x2.8x
Tue, 22 Jul 2025SEK 630.5bSEK 227.6bSEK 6.6b45.5x94.9x2.8x
Thu, 19 Jun 2025SEK 600.2bSEK 226.7bSEK 5.9b40.4x102.5x2.6x
Sat, 17 May 2025SEK 610.1bSEK 224.9bSEK 5.6b36.5x108.9x2.7x
Mon, 14 Apr 2025SEK 527.1bSEK 221.7bSEK 5.4b31.8x96.9x2.4x
Wed, 12 Mar 2025SEK 532.9bSEK 206.0bSEK 4.7b35.4x113.5x2.6x
Fri, 07 Feb 2025SEK 609.7bSEK 204.6bSEK 2.1b42.7x292.2x3x
Sun, 05 Jan 2025SEK 588.1bSEK 202.6b-SEK 2,502,690,753.8640.4x-235x2.9x
Tue, 03 Dec 2024SEK 519.1bSEK 199.4b-SEK 2,880,441,786.9637.3x-180.2x2.6x
Thu, 31 Oct 2024SEK 535.3bSEK 198.9b-SEK 2,743,682,747.1536.6x-195.1x2.7x
Sat, 28 Sep 2024SEK 620.5bSEK 199.9b-SEK 2,815,696,552.4540.2x-220.4x3.1x
Mon, 26 Aug 2024SEK 605.5bSEK 200.0b-SEK 2,323,183,060.9437.7x-260.6x3x
Wed, 24 Jul 2024SEK 602.0bSEK 198.7b-SEK 2,885,462,310.9143.6x-208.6x3x
Fri, 21 Jun 2024SEK 556.8bSEK 195.4b-SEK 3,181,936,389.0035.3x-175x2.8x
Sun, 19 May 2024SEK 548.9bSEK 196.3b-SEK 2,934,179,119.6036.3x-187.1x2.8x
Tue, 16 Apr 2024SEK 520.9bSEK 192.8b-SEK 3,175,928,203.1144.3x-164x2.7x
Thu, 14 Mar 2024SEK 529.7bSEK 192.1b-SEK 3,668,963,189.1443.7x-144.4x2.8x
Sat, 10 Feb 2024SEK 509.4bSEK 190.8b-SEK 4,367,313,928.7848.9x-116.7x2.7x
Mon, 08 Jan 2024SEK 537.1bSEK 191.4b-SEK 966,074,470.0046.6x-555.9x2.8x
Wed, 06 Dec 2023SEK 507.5bSEK 190.5b-SEK 1,086,343,418.0052.5x-467.2x2.7x
Fri, 03 Nov 2023SEK 455.7bSEK 189.4b-SEK 1,120,490,610.0039.7x-406.7x2.4x
Sun, 01 Oct 2023SEK 450.7bSEK 185.0b-SEK 2,032,472,591.0035.4x-221.8x2.4x
Tue, 29 Aug 2023SEK 463.8bSEK 185.8b-SEK 1,775,146,394.0038.5x-261.3x2.5x
Thu, 27 Jul 2023SEK 478.0bSEK 182.8b-SEK 1,001,800,127.0041.2x-477.2x2.6x
Sat, 24 Jun 2023SEK 483.3bSEK 179.1b-SEK 798,027,738.0043.6x-605.6x2.7x
Mon, 22 May 2023SEK 525.7bSEK 177.4b-SEK 896,537,914.0043x-586.4x3x
Wed, 19 Apr 2023SEK 510.5bSEK 172.5b-SEK 1,419,769,292.0035.2x-359.6x3x
Fri, 17 Mar 2023SEK 487.2bSEK 172.2b-SEK 1,400,760,575.0036.1x-347.8x2.8x
Price to Earnings Ratio

-347.8x


Total Market Cap: SEK 487.2bTotal Earnings: -SEK 1,400,760,575.00Total Revenue: SEK 172.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -167.1x202420252026
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 212.609.4%
+SEK 3.5b		-4.8%PE76.2x
EKTA B ElektaSEK 59.504.1%
+SEK 897.9m		2.4%PS1.3x
ASKER Asker Healthcare GroupSEK 63.353.0%
+SEK 716.3m		n/aPE52.6x
EGTX Egetis TherapeuticsSEK 5.6023.1%
+SEK 414.9m		37.3%PS35.5x
AMBEA AmbeaSEK 134.603.9%
+SEK 410.5m		31.8%PE16.6x

Latest News

RAY B
SEK 194.00
RaySearch Laboratories
7D
4.2%
1Y
-13.4%

RAY B: Dividend Commitment And Adaptive Therapy Expansion Will Support Stronger Outlook

Analysts have kept their SEK 330.00 price target for RaySearch Laboratories unchanged, citing largely stable assumptions on revenue growth, profit margins and future P/E multiples, despite a slightly higher discount rate in their models. What's in the News RaySearch Laboratories AB announced an annual dividend of SEK 4.00 per share, with payment scheduled for May 15, 2026, ex date on May 8, 2026, and record date on May 11, 2026 (Key Developments).
SECT B
SEK 212.60
Sectra
7D
9.4%
1Y
-4.8%

SECT B: Cloud Contracts And Upgraded Rating Will Shape Balanced Return Outlook

Sectra's analyst fair value has shifted from SEK 245 to SEK 220, with analysts pointing to updated assumptions on discount rates, growth, margins and P/E, alongside a recent SEK 250 Street price target that reflects a more constructive view on the shares. Analyst Commentary Recent research reflects a more constructive stance on Sectra, with the SEK 250 price target sitting slightly above the updated analyst fair value of SEK 220.
AMBEA
SEK 134.60
Ambea
7D
3.9%
1Y
31.8%
SOBI
SEK 375.80
Swedish Orphan Biovitrum
7D
-3.2%
1Y
26.5%

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 59.50
Elekta
7D
4.1%
1Y
2.4%
HUM
SEK 47.40
Humana
7D
6.5%
1Y
3.3%

HUM: Buybacks And New Care Facilities Will Support Future Upside

Analysts have kept their SEK fair value estimate for Humana broadly steady at SEK 60.0. Only minor shifts in the discount rate and long-term assumptions around growth, margins, and future P/E have helped to fine tune their price target rationale rather than drive a major change in view. What's in the News Completed share buyback, with Humana repurchasing a total of 1,490,401 shares, representing 3.01% of the company, for SEK 66 million under the program announced on July 23, 2025 (Key Developments).
VIMIAN
SEK 24.92
Vimian Group
7D
-3.6%
1Y
-34.4%

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 139.70
AddLife
7D
-7.1%
1Y
-6.1%
CAMX
SEK 478.00
Camurus
7D
-1.1%
1Y
-18.4%

CAMX: Upcoming US And EU Launches Will Drive Future Upside Potential

Analysts have reset their price target on Camurus to SEK 930 from SEK 1,102, reflecting updated views on slightly higher forecast revenue growth, a modestly lower projected profit margin and a reduced future P/E multiple. What's in the News Camurus issued earnings guidance for 2026, expecting revenues of SEK 2.6b to SEK 2.9b and an operating result of SEK 0.9b to SEK 1.2b (Corporate guidance).
EGTX
SEK 5.60
Egetis Therapeutics
7D
23.1%
1Y
37.3%
IMP A SDB
SEK 41.10
Implantica
7D
-8.1%
1Y
21.8%
GETI B
SEK 193.40
Getinge
7D
-2.4%
1Y
-10.0%

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 299.60
BioArctic
7D
-1.3%
1Y
36.8%
ASKER
SEK 63.35
Asker Healthcare Group
7D
3.0%
1Y
n/a
MCOV B
SEK 208.00
Medicover
7D
-3.9%
1Y
3.5%

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).
CEVI
SEK 154.40
CellaVision
7D
4.9%
1Y
-7.1%