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Swedish (OMX) Healthcare Sector Analysis

UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies151
  • 7D-1.7%
  • 3M-9.6%
  • 1Y-47.3%
  • YTD-3.8%

Over the last 7 days, the Healthcare industry has dropped 1.7%, driven by Swedish Orphan Biovitrum declining 3.9%. Overall the industry is down 47% in 12 months. 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, 26 Feb 2026SEK 572.9bSEK 229.3b-SEK 1,675,607,710.1831.7x-341.9x2.5x
Sat, 24 Jan 2026SEK 601.1bSEK 257.5bSEK 5.3b40x112.8x2.3x
Mon, 22 Dec 2025SEK 580.7bSEK 230.6bSEK 3.7b41.6x159.1x2.5x
Wed, 19 Nov 2025SEK 584.7bSEK 230.4bSEK 2.9b43.6x199.1x2.5x
Fri, 17 Oct 2025SEK 682.2bSEK 227.2bSEK 6.7b42.2x102.2x3x
Sun, 14 Sep 2025SEK 613.4bSEK 227.0bSEK 6.6b45.5x93x2.7x
Tue, 12 Aug 2025SEK 610.7bSEK 226.9bSEK 6.5b47.4x93.3x2.7x
Thu, 10 Jul 2025SEK 632.9bSEK 226.8bSEK 6.0b44.2x105.1x2.8x
Sat, 07 Jun 2025SEK 630.5bSEK 226.5bSEK 5.8b43.8x107.9x2.8x
Mon, 05 May 2025SEK 599.2bSEK 223.6bSEK 4.9b36.9x122x2.7x
Wed, 02 Apr 2025SEK 572.6bSEK 220.9bSEK 5.4b36x106x2.6x
Fri, 28 Feb 2025SEK 584.8bSEK 206.3bSEK 4.3b36.3x136.9x2.8x
Sun, 26 Jan 2025SEK 583.0bSEK 202.6b-SEK 2,675,705,168.5040.6x-217.9x2.9x
Tue, 24 Dec 2024SEK 577.7bSEK 202.7b-SEK 2,503,419,196.5238.4x-230.8x2.9x
Thu, 21 Nov 2024SEK 500.2bSEK 200.1b-SEK 2,729,298,500.7837.5x-183.3x2.5x
Sat, 19 Oct 2024SEK 599.2bSEK 198.9b-SEK 3,207,874,256.2939.4x-186.8x3x
Mon, 16 Sep 2024SEK 622.6bSEK 200.0b-SEK 2,795,377,192.9841.1x-222.7x3.1x
Wed, 14 Aug 2024SEK 575.2bSEK 199.5b-SEK 2,609,089,125.3641.6x-220.5x2.9x
Fri, 12 Jul 2024SEK 575.8bSEK 195.8b-SEK 3,174,026,561.3538.5x-181.4x2.9x
Sun, 09 Jun 2024SEK 564.1bSEK 195.9b-SEK 3,147,692,207.7736.4x-179.2x2.9x
Tue, 07 May 2024SEK 539.0bSEK 196.5b-SEK 3,171,941,416.9135.3x-169.9x2.7x
Thu, 04 Apr 2024SEK 522.4bSEK 192.9b-SEK 3,320,873,825.3045.5x-157.3x2.7x
Sat, 02 Mar 2024SEK 512.0bSEK 192.1b-SEK 3,765,632,828.3645.1x-136x2.7x
Mon, 29 Jan 2024SEK 550.9bSEK 191.7b-SEK 893,669,632.0049.4x-616.5x2.9x
Wed, 27 Dec 2023SEK 534.3bSEK 191.0b-SEK 960,561,471.0047.8x-556.3x2.8x
Fri, 24 Nov 2023SEK 502.0bSEK 190.1b-SEK 1,200,106,728.0051.1x-418.3x2.6x
Sun, 22 Oct 2023SEK 422.0bSEK 185.5b-SEK 1,926,276,118.0031.5x-219.1x2.3x
Tue, 19 Sep 2023SEK 446.9bSEK 185.7b-SEK 1,988,137,836.0036.1x-224.8x2.4x
Thu, 17 Aug 2023SEK 467.1bSEK 184.3b-SEK 1,028,799,667.0041.1x-454x2.5x
Sat, 15 Jul 2023SEK 465.5bSEK 179.6b-SEK 865,630,692.0044.4x-537.7x2.6x
Mon, 12 Jun 2023SEK 511.5bSEK 179.0b-SEK 714,102,762.0040.9x-716.3x2.9x
Wed, 10 May 2023SEK 520.9bSEK 176.7b-SEK 890,376,031.0041.8x-585x2.9x
Fri, 07 Apr 2023SEK 503.9bSEK 172.5b-SEK 1,445,623,661.0035.7x-348.6x2.9x
Sun, 05 Mar 2023SEK 495.0bSEK 171.8b-SEK 1,173,555,429.0038x-421.8x2.9x
Price to Earnings Ratio

-421.8x


Total Market Cap: SEK 495.0bTotal Earnings: -SEK 1,173,555,429.00Total Revenue: SEK 171.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -168.9x202420252026
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 10% 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 Market0.94%
Healthcare-1.66%
Life Sciences3.04%
Healthtech-0.39%
Medical Equipment-0.49%
Healthcare Services-0.57%
Pharma-1.51%
Biotech-3.56%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry even though it's trading below its 3-year average PE ratio of 97.9x.
    • Analysts are expecting annual earnings growth of 21.2%, which is higher than its past year's earnings decline of 46.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Pharma industry, expecting annual earnings growth of 34% over the next 5 years.
  • This is better than its past earnings growth rate of 14% per year.
  • In contrast, the Healthtech industry is expected to see its earnings grow by 16% 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
LUMITO LumitoSEK 6.09-18.0%
SEK 10.5b		-97.6%PB138.2x
BONEX Bonesupport HoldingSEK 197.5011.5%
+SEK 1.3b		-48.8%PE85.6x
ALIF B AddLifeSEK 146.806.4%
+SEK 1.1b		-10.0%PE31.9x
IMP A SDB ImplanticaSEK 48.956.0%
+SEK 779.1m		34.5%PS655.7x
EKTA B ElektaSEK 56.952.4%
+SEK 515.8m		-5.6%PE74.5x

Latest News

BIOA B
SEK 318.20
BioArctic
7D
-12.7%
1Y
31.9%
ASKER
SEK 61.87
Asker Healthcare Group
7D
-2.9%
1Y
n/a
SOBI
SEK 404.60
Swedish Orphan Biovitrum
7D
-3.9%
1Y
29.1%

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BONEX
SEK 197.50
Bonesupport Holding
7D
11.5%
1Y
-48.8%

BONEX: De Novo Shift Will Support Long Term Upside Potential

Analysts have slightly trimmed their fair value estimate for Bonesupport Holding to SEK370.6, from SEK374.6, reflecting minor adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions, while keeping the overall thesis broadly intact. What's in the News Bonesupport issued earnings guidance for Q4 2025, with net sales expected at 313 MSEK at constant exchange rates, based on company guidance for that period (company guidance).
ONCO
SEK 1.79
Oncopeptides
7D
-34.8%
1Y
-4.1%
SUS
SEK 31.32
Surgical Science Sweden
7D
25.9%
1Y
-80.3%
CAMX
SEK 503.50
Camurus
7D
-2.2%
1Y
-23.5%
BIOG B
SEK 107.70
BioGaia
7D
4.5%
1Y
-15.0%

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

Analysts have kept their SEK 140.0 price target for BioGaia broadly unchanged, citing slightly higher assumed discount rates and a modestly lower profit margin outlook. These factors are largely offset by stable long term growth and P/E expectations.
HNSA
SEK 32.74
Hansa Biopharma
7D
-6.0%
1Y
30.2%
IMP A SDB
SEK 48.95
Implantica
7D
6.0%
1Y
34.5%
EKTA B
SEK 56.95
Elekta
7D
2.4%
1Y
-5.6%

EKTA B: FX And Tariffs Will Continue To Pressure Future Earnings

Analysts have maintained their Elekta price target at SEK 39.0. Slightly updated assumptions around discount rate, revenue growth, profit margin and future P/E support this unchanged view. What's in the News Elekta plans an Analyst and Investor Day focused on detailed financial plans and company targets (Key Developments).
ALIF B
SEK 146.80
AddLife
7D
6.4%
1Y
-10.0%

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Feb 12
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GETI B
SEK 200.10
Getinge
7D
-0.5%
1Y
-7.5%

GETI B: Higher P/E Expectations Will Outrun Softer Margins And Dividend Uplift

Analysts have adjusted their price target on Getinge from SEK165.00 to about SEK171.00, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E expectations. What's in the News Getinge AB (publ) has a proposed dividend of SEK 4.75 per share, compared with SEK 4.60 per share previously, subject to approval (Key Developments).
VITR
SEK 90.55
Vitrolife
7D
2.5%
1Y
-53.5%

VITR: Restructuring Of Genetic Services Will Drive Future Upside Potential

Analysts have trimmed their price target on Vitrolife to €176.75 from €187, reflecting updated assumptions that include a higher discount rate, a higher future P/E multiple, and revised expectations for revenue growth and profit margins. What's in the News Vitrolife plans to record a goodwill impairment of SEK 5.4b in the fourth quarter of 2025, linked to the Igenomix acquisition (Key Developments).
SANION
SEK 22.90
Saniona
7D
-8.4%
1Y
184.5%
LUMITO
SEK 6.09
Lumito
7D
-18.0%
1Y
-97.6%

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Jan 08
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