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Swedish (OMX) Healthcare Sector Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies150
  • 7D0.2%
  • 3M-5.1%
  • 1Y-6.3%
  • YTD-5.5%

Last week, the Healthcare industry hasn't moved much but Sectra is up 9.5% in that time. As for the longer term, the industry has declined 6.3% in the last year. Looking forward, earnings are forecast to grow by 25% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 17 Mar 2026SEK 551.4bSEK 228.9b-SEK 2,899,721,423.9230.3x-190.2x2.4x
Thu, 12 Feb 2026SEK 571.5bSEK 230.1b-SEK 1,744,263,596.7432.5x-327.6x2.5x
Sat, 10 Jan 2026SEK 599.8bSEK 230.2bSEK 3.7b41x163.5x2.6x
Mon, 08 Dec 2025SEK 595.3bSEK 230.8bSEK 3.6b42.6x167.7x2.6x
Wed, 05 Nov 2025SEK 602.2bSEK 228.4bSEK 3.4b45.4x179.2x2.6x
Fri, 03 Oct 2025SEK 607.6bSEK 227.2bSEK 6.6b42.9x91.9x2.7x
Sun, 31 Aug 2025SEK 623.6bSEK 227.3bSEK 6.6b46.8x95x2.7x
Tue, 29 Jul 2025SEK 637.0bSEK 226.8bSEK 6.5b54x97.4x2.8x
Thu, 26 Jun 2025SEK 604.5bSEK 226.7bSEK 5.9b44.9x103.2x2.7x
Sat, 24 May 2025SEK 587.2bSEK 226.0bSEK 6.6b37x88.8x2.6x
Mon, 21 Apr 2025SEK 548.1bSEK 221.4bSEK 5.2b33.6x106.2x2.5x
Wed, 19 Mar 2025SEK 555.1bSEK 206.3bSEK 4.9b37x113.3x2.7x
Fri, 14 Feb 2025SEK 605.5bSEK 206.6bSEK 2.0b45.5x302.5x2.9x
Sun, 12 Jan 2025SEK 581.1bSEK 202.7b-SEK 2,498,780,680.0441.1x-232.5x2.9x
Tue, 10 Dec 2024SEK 573.6bSEK 202.5b-SEK 2,457,274,996.9837.3x-233.4x2.8x
Thu, 07 Nov 2024SEK 520.9bSEK 200.0b-SEK 2,882,322,661.7237.1x-180.7x2.6x
Sat, 05 Oct 2024SEK 607.5bSEK 200.2b-SEK 2,782,910,611.7639.8x-218.3x3x
Mon, 02 Sep 2024SEK 616.7bSEK 200.0b-SEK 2,803,885,491.0341.3x-219.9x3.1x
Wed, 31 Jul 2024SEK 588.0bSEK 199.8b-SEK 2,850,110,248.7341.1x-206.3x2.9x
Fri, 28 Jun 2024SEK 559.6bSEK 195.7b-SEK 3,063,087,249.0336.6x-182.7x2.9x
Sun, 26 May 2024SEK 553.7bSEK 196.1b-SEK 2,796,375,625.7836.5x-198x2.8x
Tue, 23 Apr 2024SEK 509.5bSEK 193.1b-SEK 3,154,359,283.3344.5x-161.5x2.6x
Thu, 21 Mar 2024SEK 514.8bSEK 192.5b-SEK 3,668,807,386.0344.1x-140.3x2.7x
Sat, 17 Feb 2024SEK 516.8bSEK 191.4b-SEK 4,057,378,134.3249.9x-127.4x2.7x
Mon, 15 Jan 2024SEK 558.9bSEK 191.5b-SEK 965,181,563.0048.1x-579.1x2.9x
Wed, 13 Dec 2023SEK 498.6bSEK 190.4b-SEK 1,068,107,791.0049.1x-466.8x2.6x
Fri, 10 Nov 2023SEK 473.9bSEK 190.1b-SEK 1,121,761,379.0050x-422.5x2.5x
Sun, 08 Oct 2023SEK 447.6bSEK 185.1b-SEK 2,032,952,939.0034.3x-220.2x2.4x
Tue, 05 Sep 2023SEK 466.5bSEK 185.5b-SEK 2,035,846,548.0038.4x-229.1x2.5x
Thu, 03 Aug 2023SEK 474.2bSEK 184.0b-SEK 988,067,967.0040x-480x2.6x
Sat, 01 Jul 2023SEK 480.3bSEK 179.2b-SEK 795,007,793.0044.7x-604.2x2.7x
Mon, 29 May 2023SEK 515.6bSEK 178.7b-SEK 548,140,751.0044.1x-940.7x2.9x
Wed, 26 Apr 2023SEK 510.1bSEK 173.2b-SEK 1,493,622,211.0035x-341.5x2.9x
Fri, 24 Mar 2023SEK 483.5bSEK 172.3b-SEK 1,416,096,910.0035.7x-341.4x2.8x
Price to Earnings Ratio

-341.4x


Total Market Cap: SEK 483.5bTotal Earnings: -SEK 1,416,096,910.00Total Revenue: SEK 172.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -166.1x202420252026
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 Market0.51%
Healthcare0.18%
Healthtech7.53%
Biotech0.16%
Healthcare Services-0.20%
Life Sciences-0.59%
Pharma-1.02%
Medical Equipment-1.86%
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 20.3%, 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 232.809.5%
+SEK 3.9b		-6.7%PE83.4x
BIOA B BioArcticSEK 314.404.9%
+SEK 1.3b		50.1%PE27.3x
MVIR MedivirSEK 2.7795.1%
+SEK 727.2m		79.9%PS175.5x
VIMIAN Vimian GroupSEK 26.044.5%
+SEK 592.8m		-34.1%PE41x
BIOG B BioGaiaSEK 114.804.7%
+SEK 526.0m		-3.4%PE34.9x

Latest News

VITR
SEK 94.20
Vitrolife
7D
2.3%
1Y
-46.7%
BONEX
SEK 198.00
Bonesupport Holding
7D
2.3%
1Y
-39.6%

Slow Trauma Center Adoption And Regulatory Hurdles Will Eventually Support A Healthier Business Mix

Catalysts About Bonesupport Holding Bonesupport Holding develops and sells CERAMENT bone void fillers, including antibiotic eluting products used to treat complex bone infections and defects. What are the underlying business or industry changes driving this perspective?
GETI B
SEK 188.25
Getinge
7D
-2.7%
1Y
-15.7%

GETI B: Slightly Higher Dividend Will Still Leave P/E Looking Stretched

Analysts have kept their SEK 170.97 price target for Getinge broadly unchanged, citing only marginal tweaks to assumptions around the discount rate, revenue growth, profit margin and future P/E that do not materially alter their overall view of the shares. What's in the News Getinge AB has a proposed dividend of SEK 4.75 per share, compared with SEK 4.60 previously (Key Developments).
MVIR
SEK 2.77
Medivir
7D
95.1%
1Y
79.9%

Rare Disease And Liver Cancer Setbacks Will Test This High Risk Pipeline Story

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SECT B
SEK 232.80
Sectra
7D
9.5%
1Y
-6.7%
ATT
SEK 101.20
Attendo
7D
-2.1%
1Y
64.3%

ATT: Future Dividend And Cash Returns Will Support Steady Prospects

Narrative Update on Attendo Analysts have kept Attendo's fair value estimate steady at SEK 110, with only minor adjustments to inputs such as the discount rate and assumed future P/E. This reflects fine tuning of their valuation rather than a shift in overall view.
BIOA B
SEK 314.40
BioArctic
7D
4.9%
1Y
50.1%

BIOA B: China Alzheimer’s Access And Delivery Shift Will Drive Future Upside

Analysts are keeping their SEK 367.0 price target for BioArctic broadly unchanged, with only modest tweaks to underlying assumptions. They highlight parallels with recent bullish Street research on early stage biotech names that are seeing renewed interest around differentiated clinical assets.
MCOV B
SEK 202.00
Medicover
7D
-2.9%
1Y
3.0%

MCOV B: Dividend Uplift And 2028 Revenue Ambition Will Support Future Upside

Analysts have kept their price target for Medicover broadly unchanged at around SEK 257, reflecting stable assumptions on the discount rate, revenue growth, profit margin and future P/E multiples. What's in the News The board of Medicover AB proposes a dividend of SEK 0.20 per share for the financial year 2025, compared with SEK 0.15 previously, subject to approval at the annual general meeting on 29 April 2026 (Key Developments).
RAY B
SEK 190.20
RaySearch Laboratories
7D
-2.0%
1Y
-31.6%

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).
EKTA B
SEK 56.55
Elekta
7D
-5.0%
1Y
-1.7%
BIOG B
SEK 114.80
BioGaia
7D
4.7%
1Y
-3.4%

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 26.04
Vimian Group
7D
4.5%
1Y
-34.1%

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.
CAMX
SEK 471.20
Camurus
7D
-1.4%
1Y
-21.9%

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).
IMP A SDB
SEK 40.40
Implantica
7D
-1.7%
1Y
26.3%
DVYSR
SEK 78.40
Devyser Diagnostics
7D
-8.8%
1Y
-27.4%

Earnings Update: Devyser Diagnostics AB (publ) (STO:DVYSR) Just Reported Its Full-Year Results And Analysts Are Updating Their Forecasts

Feb 15
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DICOT
SEK 0.42
Dicot Pharma
7D
42.6%
1Y
64.7%

Is Dicot Pharma (STO:DICOT) In A Good Position To Invest In Growth?

Feb 03
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