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Swedish (OMX) Healthcare Sector Analysis

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies151
  • 7D2.3%
  • 3M-0.8%
  • 1Y-1.9%
  • YTD2.2%

The Healthcare industry is up 2.3% in the last week, with BioArctic up 8.2%. Despite this gain, the industry's performance has been flat over the past year. As for the next few years, earnings are expected to grow by 26% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026SEK 611.3bSEK 230.2bSEK 3.7b42.6x166.6x2.7x
Sat, 13 Dec 2025SEK 585.0bSEK 230.7bSEK 3.5b41.5x165x2.5x
Mon, 10 Nov 2025SEK 587.5bSEK 229.8bSEK 2.9b42.7x201.5x2.6x
Wed, 08 Oct 2025SEK 614.6bSEK 227.0bSEK 6.6b43.4x93x2.7x
Fri, 05 Sep 2025SEK 613.9bSEK 227.2bSEK 6.6b44.4x93.2x2.7x
Sun, 03 Aug 2025SEK 614.2bSEK 226.9bSEK 6.5b50.4x94.1x2.7x
Tue, 01 Jul 2025SEK 617.3bSEK 226.8bSEK 6.0b44.9x102.6x2.7x
Thu, 29 May 2025SEK 596.7bSEK 226.2bSEK 6.6b38.1x90x2.6x
Sat, 26 Apr 2025SEK 567.6bSEK 222.4bSEK 4.9b38.7x114.9x2.6x
Mon, 24 Mar 2025SEK 556.7bSEK 206.2bSEK 5.0b36.7x110.3x2.7x
Wed, 19 Feb 2025SEK 604.5bSEK 206.4bSEK 2.5b42.4x243.1x2.9x
Fri, 17 Jan 2025SEK 584.5bSEK 202.6b-SEK 2,489,019,067.6342.4x-234.8x2.9x
Sun, 15 Dec 2024SEK 572.4bSEK 202.7b-SEK 2,527,800,771.4238.5x-226.4x2.8x
Tue, 12 Nov 2024SEK 530.2bSEK 200.1b-SEK 2,438,798,059.8238.4x-217.4x2.7x
Thu, 10 Oct 2024SEK 602.0bSEK 200.1b-SEK 2,795,037,059.9239.6x-215.4x3x
Sat, 07 Sep 2024SEK 606.9bSEK 200.3b-SEK 2,845,519,788.9640.3x-213.3x3x
Mon, 05 Aug 2024SEK 569.5bSEK 199.6b-SEK 2,752,847,499.7440.4x-206.9x2.9x
Wed, 03 Jul 2024SEK 564.0bSEK 195.7b-SEK 3,202,684,391.9938x-176.1x2.9x
Fri, 31 May 2024SEK 556.3bSEK 195.9b-SEK 2,882,939,931.2436.1x-193x2.8x
Sun, 28 Apr 2024SEK 531.1bSEK 196.4b-SEK 3,509,694,432.6236.7x-151.3x2.7x
Tue, 26 Mar 2024SEK 522.8bSEK 192.7b-SEK 3,669,113,399.9444x-142.5x2.7x
Thu, 22 Feb 2024SEK 510.9bSEK 192.0b-SEK 3,850,566,495.7848.3x-132.7x2.7x
Sat, 20 Jan 2024SEK 540.2bSEK 191.8b-SEK 969,123,251.0049.7x-557.4x2.8x
Mon, 18 Dec 2023SEK 527.7bSEK 191.4b-SEK 942,084,132.0050.3x-560.1x2.8x
Wed, 15 Nov 2023SEK 487.5bSEK 190.1b-SEK 1,156,342,236.0049.8x-421.6x2.6x
Fri, 13 Oct 2023SEK 442.4bSEK 185.0b-SEK 2,013,712,689.0034.3x-219.7x2.4x
Sun, 10 Sep 2023SEK 452.7bSEK 185.7b-SEK 2,024,536,586.0036.6x-223.6x2.4x
Tue, 08 Aug 2023SEK 469.7bSEK 183.9b-SEK 1,035,585,802.0039.4x-453.6x2.6x
Thu, 06 Jul 2023SEK 479.9bSEK 179.4b-SEK 763,837,364.0045.2x-628.3x2.7x
Sat, 03 Jun 2023SEK 515.3bSEK 178.8b-SEK 555,974,944.0043.4x-926.8x2.9x
Mon, 01 May 2023SEK 518.4bSEK 176.0b-SEK 795,920,993.0035.3x-651.3x2.9x
Wed, 29 Mar 2023SEK 478.0bSEK 172.4b-SEK 1,400,810,596.0036.7x-341.2x2.8x
Fri, 24 Feb 2023SEK 495.2bSEK 170.3b-SEK 1,454,625,177.0036.9x-340.5x2.9x
Sun, 22 Jan 2023SEK 513.2bSEK 165.7bSEK 674.8m33.3x760.5x3.1x
Price to Earnings Ratio

760.5x


Total Market Cap: SEK 513.2bTotal Earnings: SEK 674.8mTotal Revenue: SEK 165.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -139.1x202420252026
Current Industry PE
  • Investors are optimistic on the Swedish Healthcare industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 167x which is higher than its 3-year average PE of -139x.
  • 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 grown 76% per year over the last three years.
  • Revenues for these companies have grown 12% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

SE Market2.43%
Healthcare2.32%
Pharma8.15%
Biotech2.68%
Medical Equipment2.33%
Life Sciences0.78%
Healthcare Services0.76%
Healthtech-1.09%
Industry PE
  • Investors are most optimistic about the Healthtech industry even though it's trading below its 3-year average PE ratio of 121x.
    • Analysts are expecting annual earnings growth of 17.7%, which is lower than the prior year's growth of 46.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Pharma industry, expecting annual earnings growth of 38% over the next 5 years.
  • However this is lower than its past earnings growth rate of 97% 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
BIOA B BioArcticSEK 342.804.2%
+SEK 21.7b		68.4%PE50.9x
CAMX CamurusSEK 689.508.8%
+SEK 3.3b		21.4%PE52.6x
BONEX Bonesupport HoldingSEK 211.2015.0%
+SEK 1.8b		-42.7%PE91.6x
SOBI Swedish Orphan BiovitrumSEK 341.401.1%
+SEK 1.3b		6.2%PE9051.2x
EKTA B ElektaSEK 60.754.6%
+SEK 1.0b		-2.3%PE79.5x

Latest News

BONEX
SEK 211.20
Bonesupport Holding
7D
15.0%
1Y
-42.7%
BIOA B
SEK 342.80
BioArctic
7D
4.2%
1Y
68.4%
EKTA B
SEK 60.75
Elekta
7D
4.6%
1Y
-2.3%

Elekta AB (publ) (STO:EKTA B) Shares Could Be 48% Below Their Intrinsic Value Estimate

Jan 12
Elekta AB (publ) (STO:EKTA B) Shares Could Be 48% Below Their Intrinsic Value Estimate
SECT B
SEK 232.80
Sectra
7D
-3.7%
1Y
-8.3%

Investor Optimism Abounds Sectra AB (publ) (STO:SECT B) But Growth Is Lacking

Jan 12
Investor Optimism Abounds Sectra AB (publ) (STO:SECT B) But Growth Is Lacking
XVIVO
SEK 202.80
Xvivo Perfusion
7D
7.1%
1Y
-53.9%

XVIVO: Recent Upgrade And SEK 225 Level Will Support Bullish Repricing

Analysts have trimmed their fair value estimate for Xvivo Perfusion by about SEK 2 to SEK 317.6, reflecting slightly adjusted assumptions on growth and margins. They also point to the recent upgrade to Buy from Hold and a SEK 225 target as support for a more constructive view on the shares.
VITR
SEK 133.50
Vitrolife
7D
-4.2%
1Y
-36.1%

VITR: Restructuring And Goodwill Impairment Will Support Future Upside Potential

Analysts have maintained their fair value estimate for Vitrolife at SEK 188.75, with only minor technical adjustments to the discount rate and future P/E assumptions shaping the updated price target narrative. What's in the News Vitrolife plans to record a goodwill impairment of SEK 5.4b in the fourth quarter of 2025, related to the Igenomix acquisition (company announcement).
CANTA
SEK 5.98
Cantargia
7D
33.5%
1Y
232.2%
CAMX
SEK 689.50
Camurus
7D
8.8%
1Y
21.4%
ASKER
SEK 81.09
Asker Healthcare Group
7D
-5.8%
1Y
n/a
SOBI
SEK 341.40
Swedish Orphan Biovitrum
7D
1.1%
1Y
6.2%

SOBI: Pipeline Milestones And Buy Rating Are Expected To Shape Returns

Analysts have raised their price target on Swedish Orphan Biovitrum from SEK 367.09 to about SEK 371.18, reflecting updated assumptions around discount rate, profit margin and a slightly higher future P/E, along with recent research that included an upgrade to Buy with a SEK 370 target. Analyst Commentary Bullish Takeaways Bullish analysts point to the SEK 370 price target as support for the view that the revised assumptions on discount rate, profit margin and future P/E still leave room for upside versus the previous framework.
VIMIAN
SEK 31.30
Vimian Group
7D
-3.9%
1Y
-21.1%

VIMIAN: Rebased Expectations Will Highlight Execution On M&A-Led Expansion Narrative

Analysts have lowered their fair value estimate for Vimian Group from SEK 51.65 to SEK 41.97, citing more cautious assumptions on revenue growth and valuation multiples in line with recent price target cuts, including the move to SEK 27 from SEK 37 in Barclays' 2026 industry outlook. Analyst Commentary Recent research points to a more cautious stance on Vimian Group, with fair value and price targets recalibrated to reflect updated assumptions on revenue growth and sector valuation.
BIOG B
SEK 112.00
BioGaia
7D
5.4%
1Y
0%

BIOG B: Serotonin Link In Gut Microbiota Will Support Higher Earnings Multiple

Analysts have lifted their fair value estimate for BioGaia from SEK 130 to SEK 140, citing updated assumptions for discount rates, revenue growth, profitability and future P/E that they see as better aligned with the company’s current outlook. What's in the News Researchers linked to BioGaia reported that specific gut bacteria can produce serotonin, a key bioactive substance in the microbiota gut brain axis, with findings published in Cell Reports (Key Developments).
GETI B
SEK 220.60
Getinge
7D
-3.2%
1Y
17.4%

Some Shareholders Feeling Restless Over Getinge AB (publ)'s (STO:GETI B) P/E Ratio

Jan 02
Some Shareholders Feeling Restless Over Getinge AB (publ)'s (STO:GETI B) P/E Ratio
AMBEA
SEK 132.40
Ambea
7D
-6.4%
1Y
41.7%

Why Ambea AB (publ) (STO:AMBEA) Could Be Worth Watching

Dec 15
Why Ambea AB (publ) (STO:AMBEA) Could Be Worth Watching
SECARE
SEK 36.95
Swedencare
7D
-5.9%
1Y
-16.9%
MCAP
SEK 515.00
MedCap
7D
-6.2%
1Y
-12.9%