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Swedish (OMX) Healthcare Sector Analysis

UpdatedMar 22, 2026
DataAggregated Company Financials
Companies149
  • 7D-3.2%
  • 3M-9.3%
  • 1Y-9.7%
  • YTD-8.5%

Over the last 7 days, the Healthcare industry has dropped 3.2%, driven by Swedish Orphan Biovitrum declining 3.6%. The industry has fallen 9.7% in the last year. As for the next few years, earnings are expected to grow by 25% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Mar 2026SEK 533.5bSEK 228.9b-SEK 2,821,511,242.5629.9x-189.1x2.3x
Tue, 17 Feb 2026SEK 557.1bSEK 230.6b-SEK 1,733,130,041.0031.3x-321.4x2.4x
Thu, 15 Jan 2026SEK 616.4bSEK 230.2bSEK 3.7b42.7x168x2.7x
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
Price to Earnings Ratio

-341.2x


Total Market Cap: SEK 478.0bTotal Earnings: -SEK 1,400,810,596.00Total Revenue: SEK 172.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -165.4x202420252026
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 2.3x.
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 Market-4.91%
Healthcare-3.23%
Life Sciences-2.22%
Medical Equipment-2.24%
Biotech-3.12%
Pharma-3.41%
Healthtech-4.45%
Healthcare Services-4.45%
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 20.3%, 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
BIOA B BioArcticSEK 306.001.2%
+SEK 319.4m		45.7%PE26.6x
FLUO FluoGuideSEK 43.6044.4%
+SEK 219.1m		10.4%PS2239.2x
ONCO OncopeptidesSEK 1.50-3.5%
SEK 168.7m		-0.5%PS8.3x
CRNO B Cereno ScientificSEK 6.308.5%
+SEK 154.5m		20.0%PS44.4x
DICOT Dicot PharmaSEK 0.4320.9%
+SEK 150.7m		56.7%PB11.9x

Latest News

IVACC
SEK 0.98
Intervacc
7D
33.9%
1Y
-10.2%
ONCO
SEK 1.50
Oncopeptides
7D
-3.5%
1Y
-0.5%
CRNO B
SEK 6.30
Cereno Scientific
7D
8.5%
1Y
20.0%
SOBI
SEK 359.40
Swedish Orphan Biovitrum
7D
-3.6%
1Y
23.8%
FLUO
SEK 43.60
FluoGuide
7D
44.4%
1Y
10.4%
CAMX
SEK 449.00
Camurus
7D
-4.1%
1Y
-27.4%

CAMX: 2026 Guidance And US FDA Review Will Drive Future Upside

Analysts have kept their SEK 930 price target for Camurus unchanged, citing only minor adjustments in their assumptions for revenue growth, profit margin and future P/E as the main reasons for maintaining this level. 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 (Corporate guidance).
VITR
SEK 87.95
Vitrolife
7D
-5.7%
1Y
-48.4%
BONEX
SEK 176.40
Bonesupport Holding
7D
-10.0%
1Y
-46.8%

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 180.60
Getinge
7D
-4.4%
1Y
-18.2%

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).
SECT B
SEK 222.00
Sectra
7D
-4.3%
1Y
-12.7%
BIOA B
SEK 306.00
BioArctic
7D
1.2%
1Y
45.7%

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.
XVIVO
SEK 183.00
Xvivo Perfusion
7D
2.2%
1Y
-53.4%

XVIVO: Higher Growth Assumptions Will Support Continued Bullish Repricing

Analysts now set their price target for Xvivo Perfusion at SEK301.0, compared with the prior SEK316.6, reflecting updated assumptions around slightly higher revenue growth, a lower profit margin, a higher discount rate, and a modestly higher future P/E multiple. Valuation Changes Fair Value: SEK316.6 has been revised to SEK301.0, a modest reduction in the estimated valuation level.
MCOV B
SEK 189.00
Medicover
7D
-8.5%
1Y
-6.7%

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).
ASKER
SEK 63.78
Asker Healthcare Group
7D
-2.9%
1Y
n/a
DICOT
SEK 0.43
Dicot Pharma
7D
20.9%
1Y
56.7%

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

Feb 03
Is Dicot Pharma (STO:DICOT) In A Good Position To Invest In Growth?
HAMLET B
SEK 4.20
Hamlet BioPharma
7D
14.3%
1Y
1.4%