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Swedish (OMX) Healthcare Sector Analysis

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies147
  • 7D-0.1%
  • 3M-3.6%
  • 1Y13.0%
  • YTD-0.7%

Over the last 7 days, the Healthcare industry has remained flat. The past year has been better, since the industry has gained 13% in that time. Looking forward, earnings are forecast to grow by 24% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 09 Apr 2026SEK 580.0bSEK 228.8b-SEK 2,931,728,721.3931.9x-197.8x2.5x
Sat, 07 Mar 2026SEK 555.2bSEK 228.5b-SEK 2,844,931,199.3229.5x-195.2x2.4x
Mon, 02 Feb 2026SEK 582.1bSEK 228.9bSEK 3.3b37.5x176.5x2.5x
Wed, 31 Dec 2025SEK 588.5bSEK 230.5bSEK 3.7b42.2x160.1x2.6x
Fri, 28 Nov 2025SEK 607.7bSEK 230.5bSEK 3.3b43.1x186.1x2.6x
Sun, 26 Oct 2025SEK 614.4bSEK 228.3bSEK 3.1b48.6x200.7x2.7x
Tue, 23 Sep 2025SEK 613.4bSEK 227.3bSEK 6.6b45x92.9x2.7x
Thu, 21 Aug 2025SEK 619.9bSEK 227.3bSEK 6.5b43.6x95.3x2.7x
Sat, 19 Jul 2025SEK 630.5bSEK 227.7bSEK 6.6b46.7x96.2x2.8x
Mon, 16 Jun 2025SEK 603.9bSEK 226.4bSEK 5.8b40.1x103.6x2.7x
Wed, 14 May 2025SEK 603.4bSEK 224.0bSEK 5.2b35.2x115.4x2.7x
Fri, 11 Apr 2025SEK 526.2bSEK 221.5bSEK 5.4b32.1x96.8x2.4x
Sun, 09 Mar 2025SEK 557.2bSEK 206.0bSEK 4.7b36x118.7x2.7x
Tue, 04 Feb 2025SEK 602.2bSEK 204.1bSEK 1.5b42.2x394.2x3x
Thu, 02 Jan 2025SEK 581.6bSEK 202.6b-SEK 2,502,940,770.9839x-232.4x2.9x
Sat, 30 Nov 2024SEK 516.8bSEK 199.4b-SEK 2,897,471,761.9137.7x-178.4x2.6x
Mon, 28 Oct 2024SEK 542.5bSEK 198.7b-SEK 2,774,960,882.9738.2x-195.5x2.7x
Wed, 25 Sep 2024SEK 607.6bSEK 200.0b-SEK 2,815,748,775.9239x-215.8x3x
Fri, 23 Aug 2024SEK 601.2bSEK 199.9b-SEK 1,808,985,021.1637.2x-332.3x3x
Sun, 21 Jul 2024SEK 590.0bSEK 198.0b-SEK 2,809,387,911.6143.5x-210x3x
Tue, 18 Jun 2024SEK 553.4bSEK 195.5b-SEK 3,170,326,439.0434.8x-174.6x2.8x
Thu, 16 May 2024SEK 556.0bSEK 196.6b-SEK 2,670,437,737.8036.6x-208.2x2.8x
Sat, 13 Apr 2024SEK 520.1bSEK 192.9b-SEK 3,176,124,900.5445.5x-163.8x2.7x
Mon, 11 Mar 2024SEK 525.5bSEK 192.1b-SEK 3,679,319,655.6243.5x-142.8x2.7x
Wed, 07 Feb 2024SEK 523.5bSEK 188.7b-SEK 4,138,756,471.1248.6x-126.5x2.8x
Fri, 05 Jan 2024SEK 542.0bSEK 191.3b-SEK 964,913,980.0046.7x-561.7x2.8x
Sun, 03 Dec 2023SEK 502.0bSEK 190.4b-SEK 1,085,234,395.0052.1x-462.6x2.6x
Tue, 31 Oct 2023SEK 438.0bSEK 189.5b-SEK 1,869,132,201.0038x-234.3x2.3x
Thu, 28 Sep 2023SEK 443.7bSEK 185.1b-SEK 2,035,016,507.0034.9x-218x2.4x
Sat, 26 Aug 2023SEK 461.1bSEK 185.7b-SEK 1,545,846,851.0038.8x-298.3x2.5x
Mon, 24 Jul 2023SEK 478.1bSEK 182.8b-SEK 1,004,494,296.0041.5x-476x2.6x
Wed, 21 Jun 2023SEK 487.8bSEK 179.3b-SEK 780,034,085.0045.3x-625.4x2.7x
Fri, 19 May 2023SEK 518.4bSEK 177.3b-SEK 830,834,048.0042.5x-624x2.9x
Sun, 16 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 -162.8x202420252026
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 Market2.33%
Healthcare-0.13%
Healthtech1.50%
Life Sciences0.61%
Medical Equipment0.35%
Healthcare Services-0.50%
Pharma-0.57%
Biotech-0.65%
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
SECT B SectraSEK 241.801.7%
+SEK 770.7m		1.5%PE86.7x
BONEX Bonesupport HoldingSEK 229.404.7%
+SEK 681.0m		-20.5%PE107.7x
IMP A SDB ImplanticaSEK 48.704.2%
+SEK 552.5m		79.0%PS612.4x
XVIVO Xvivo PerfusionSEK 252.602.8%
+SEK 214.2m		-4.7%PE316.2x
VIMIAN Vimian GroupSEK 29.251.3%
+SEK 195.8m		-22.2%PE45.5x

Latest News

BONEX
SEK 229.40
Bonesupport Holding
7D
4.7%
1Y
-20.5%
BIOA B
SEK 326.00
BioArctic
7D
-2.7%
1Y
110.3%

BIOA B: NLRP3 Opportunity And Alzheimer’s Data Will Shape Balanced Outlook

The analyst fair value estimate for BioArctic has shifted from SEK 294.60 to SEK 303.80, with analysts pointing to more constructive views on the NLRP3 opportunity set and comparisons to bullish Street research on peers as key drivers behind the updated target assumptions. Analyst Commentary Bullish analysts are drawing parallels between BioArctic's NLRP3 exposure and Street enthusiasm around peers such as BioAge Labs, where recent research has highlighted NLRP3 programs and adjacent cardiovascular and ophthalmology opportunities as a key value driver.
XVIVO
SEK 252.60
Xvivo Perfusion
7D
2.8%
1Y
-4.7%

XVIVO: Stable Return Assumptions And Margins Will Support Balanced Future Outlook

Analysts have maintained their SEK245.0 price target for Xvivo Perfusion, citing slightly revised assumptions for the discount rate, revenue growth, profit margin, and future P/E ratio, which together support a stable valuation view. Valuation Changes Fair Value: SEK245 has been reaffirmed, with only a minor presentational change from SEK245 to SEK245.0. Discount Rate: Adjusted slightly higher from 5.95% to 6.01%, reflecting a modest change in the required return assumption.
SOBI
SEK 406.80
Swedish Orphan Biovitrum
7D
-0.2%
1Y
65.0%

SOBI: Kidney And Sepsis Pipeline Progress Will Shape A More Balanced Outlook

The analyst price target for Swedish Orphan Biovitrum has been raised by SEK 4.90 to SEK 428.50, as analysts reference recent target increases from SEK 395 to SEK 470 and from SEK 470 to SEK 500, alongside updated assumptions for revenue growth, profit margins and future P/E. Analyst Commentary Recent research opinions on Swedish Orphan Biovitrum present a mixed picture, with several price target adjustments and rating changes that point to both confidence in the equity story and caution around execution risk.
MCOV B
SEK 191.60
Medicover
7D
-0.9%
1Y
0.8%

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).
SECT B
SEK 241.80
Sectra
7D
1.7%
1Y
1.5%

SECT B: Cloud Contracts And Rating Upgrades Will Shape Future Return Balance

Analysts have maintained the fair value estimate for Sectra at SEK 227.50. Recent upgrades and new price targets, which range from SEK 210 to SEK 250, support a slightly lower implied discount rate and marginally adjusted long-term growth and P/E assumptions.
BIOG B
SEK 118.60
BioGaia
7D
-2.6%
1Y
24.6%

BIOG B: Downgrade And Extra Dividend Will Set Up Future Multiple Re Rating

Analysts have trimmed their stance on BioGaia with a lower SEK price target, reflecting more cautious views on the shares following a downgrade from SEB Equities and only slight adjustments to assumptions such as the discount rate and future P/E. Analyst Commentary Bullish Takeaways Bullish analysts see the trimmed price target and modest changes to the discount rate and future P/E as leaving room for upside if execution on growth initiatives tracks current expectations.
VIMIAN
SEK 29.25
Vimian Group
7D
1.3%
1Y
-22.2%

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 10.00
Vicore Pharma Holding
7D
-5.5%
1Y
58.0%
EKTA B
SEK 54.90
Elekta
7D
-1.8%
1Y
23.4%

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 30.82
Hansa Biopharma
7D
-6.6%
1Y
37.6%

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.
CAMX
SEK 495.40
Camurus
7D
-0.6%
1Y
-2.3%

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).
GETI B
SEK 193.75
Getinge
7D
0.3%
1Y
8.4%

Getinge AB (publ) Just Missed EPS By 11%: Here's What Analysts Think Will Happen Next

Mar 29
Getinge AB (publ) Just Missed EPS By 11%: Here's What Analysts Think Will Happen Next
ASKER
SEK 70.25
Asker Healthcare Group
7D
0.5%
1Y
-5.3%
SECARE
SEK 26.35
Swedencare
7D
3.9%
1Y
-23.2%
IMP A SDB
SEK 48.70
Implantica
7D
4.2%
1Y
79.0%