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Swedish (OMX) Healthcare Sector Analysis

UpdatedFeb 05, 2026
DataAggregated Company Financials
Companies151
  • 7D-2.0%
  • 3M-4.5%
  • 1Y-11.7%
  • YTD-2.5%

Over the last 7 days, the Healthcare industry has dropped 2.0%, driven by Vitrolife declining 26%. Meanwhile, Swedish Orphan Biovitrum actually outperformed within the industry, gaining 5.4% in the last week. Overall the industry is down 12% in 12 months. Looking forward, earnings are forecast to grow by 28% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Sun, 12 Feb 2023SEK 508.6bSEK 169.4bSEK 450.8m35.8x1128.2x3x
Price to Earnings Ratio

1128.2x


Total Market Cap: SEK 508.6bTotal Earnings: SEK 450.8mTotal Revenue: SEK 169.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -156.5x202420252026
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
  • Total earnings for the Healthcare industry have declined over the last three years, with the industry now making a loss overall.
  • Meanwhile revenues have grown 11% 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 decreased profits.

Industry Trends

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

SE Market1.41%
Healthcare-2.02%
Life Sciences4.21%
Biotech-0.029%
Healthcare Services-1.68%
Medical Equipment-3.16%
Pharma-5.49%
Healthtech-7.18%
Industry PE
  • Investors are most optimistic about the Healthtech industry even though it's trading below its 3-year average PE ratio of 118x.
    • Analysts are expecting annual earnings growth of 17.6%, which is lower than the prior year's growth of 46.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 36% over the next 5 years.
  • This is better than its past earnings decline of 6.2% 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 358.405.4%
+SEK 6.3b		9.5%PE9501.9x
GETI B GetingeSEK 203.703.3%
+SEK 1.8b		-5.3%PE24.6x
ALIF B AddLifeSEK 155.409.7%
+SEK 1.7b		-9.4%PE48.1x
CURAS CurasightDKK 16.5031.0%
+DKK 186.9m		83.7%PB45.3x
DMYD B Diamyd MedicalSEK 17.186.4%
+SEK 143.0m		-0.8%PS6768.6x

Latest News

GETI B
SEK 203.70
Getinge
7D
3.3%
1Y
-5.3%
ASKER
SEK 74.28
Asker Healthcare Group
7D
-3.9%
1Y
n/a
ALIF B
SEK 155.40
AddLife
7D
9.7%
1Y
-9.4%
SECARE
SEK 24.25
Swedencare
7D
-27.9%
1Y
-46.8%
VITR
SEK 89.00
Vitrolife
7D
-26.2%
1Y
-58.8%
EKTA B
SEK 55.35
Elekta
7D
-8.2%
1Y
-15.1%

EKTA B: U.S. Clearance For New Radiotherapy System Will Support Earnings Outlook

Analysts have modestly lifted their price target on Elekta, citing updated assumptions that include a fair value of €88.60 compared with €86.58 previously, a slightly higher discount rate, marginally stronger revenue growth and profit margin expectations, and a lower future P/E multiple. What's in the News Elekta announced that its Elekta Evo CT Linac system has received 510(k) clearance from the U.S. Food and Drug Administration, making the system available to radiation oncology professionals in the United States (Key Developments).
CAMX
SEK 671.00
Camurus
7D
-3.0%
1Y
10.8%

CAMX: Obesity Data And Resubmitted NDA Will Drive Future Upside Potential

Analysts have lifted their price target on Camurus from SEK 793.71 to SEK 814.17, citing updated assumptions around revenue growth, margin potential, and a lower future P/E multiple as key drivers of the change. What's in the News The U.S. FDA accepted Camurus' resubmitted New Drug Application for Oclaiz (CAM2029) for acromegaly treatment and set a PDUFA target action date of 10 June 2026, following an earlier Complete Response Letter related to a third party manufacturing facility (Key Developments).
ARJO B
SEK 25.90
Arjo
7D
-14.4%
1Y
-33.6%

Arjo AB (publ) Just Missed EPS By 27%: Here's What Analysts Think Will Happen Next

Feb 03
Arjo AB (publ) Just Missed EPS By 27%: Here's What Analysts Think Will Happen Next
SOBI
SEK 358.40
Swedish Orphan Biovitrum
7D
5.4%
1Y
9.5%
DMYD B
SEK 17.18
Diamyd Medical
7D
6.4%
1Y
-0.8%
CURAS
DKK 16.50
Curasight
7D
31.0%
1Y
83.7%
ATT
SEK 90.70
Attendo
7D
0.7%
1Y
71.1%

ATT: Stable Margins And Tweaked Assumptions Will Support Measured Future Returns

Analysts have slightly adjusted their price target on Attendo, with the updated fair value now cited at €90.0. This reflects modest tweaks to assumptions for discount rate, revenue growth, profit margin, and future P/E, rather than a major shift in their view of the company. Valuation Changes Fair Value: Held steady at €90.0, indicating no change in the overall assessed equity value.
BIOA B
SEK 308.00
BioArctic
7D
-6.1%
1Y
39.5%

BIOA B: Future Earnings Will Rely On Risky China Alzheimer Access

Analysts now keep their price target for BioArctic at SEK 230.00, with small adjustments to the discount rate, revenue growth assumptions and future P/E outlook. This reflects only minor changes to their overall view of the company’s risk and profitability profile.
BIOG B
SEK 111.90
BioGaia
7D
1.3%
1Y
-15.0%

BIOG B: Serotonin Producing Gut Bacteria Will Support Higher Future Earnings Multiple

Narrative Update on BioGaia The analyst price target for BioGaia is unchanged at €140. Analysts consider the slightly higher discount rate and modestly adjusted future P/E assumption to be offsetting factors that leave their valuation view effectively intact.
SECT B
SEK 212.00
Sectra
7D
-6.9%
1Y
-17.8%

SECT B: Cloud Imaging Expansion And Pathology Deals Will Support Balanced Outlook

Analysts have kept their fair value estimate for Sectra steady at SEK 245.0, with only marginal tweaks to assumptions such as the discount rate, long term revenue growth, profit margin and future P/E to reflect updated modelling rather than a change in overall view. What's in the News Sectra and partner Matsunami Glass have begun implementing their first digital pathology project in Japan at Kameda Medical Center, marking Sectra's entry into the Japanese digital pathology market following a contract signed in the second quarter of the 2025/2026 fiscal year (Key Developments).
HAMLET B
SEK 4.20
Hamlet BioPharma
7D
14.3%
1Y
1.4%