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Swedish (OMX) Healthcare Sector Analysis

UpdatedJan 07, 2026
DataAggregated Company Financials
Companies151
  • 7D-1.6%
  • 3M-5.9%
  • 1Y-7.3%
  • YTD-0.1%

Over the last 7 days, the Healthcare industry has dropped 1.8%, driven by Sectra declining 5.4%. However, the industry is down 9.0% over the past year. As for the next few years, earnings are expected to grow by 27% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 07 Jan 2026SEK 578.8bSEK 230.3bSEK 3.7b40.7x157.7x2.5x
Fri, 05 Dec 2025SEK 596.9bSEK 230.8bSEK 3.6b42x166.4x2.6x
Sun, 02 Nov 2025SEK 610.3bSEK 228.3bSEK 3.3b46.3x183x2.7x
Tue, 30 Sep 2025SEK 597.5bSEK 227.2bSEK 6.6b43.4x90.4x2.6x
Thu, 28 Aug 2025SEK 629.3bSEK 227.2bSEK 6.4b47.1x98.2x2.8x
Sat, 26 Jul 2025SEK 639.5bSEK 226.8bSEK 6.5b54.5x97.8x2.8x
Mon, 23 Jun 2025SEK 593.9bSEK 226.9bSEK 5.9b45x101.4x2.6x
Wed, 21 May 2025SEK 609.5bSEK 224.9bSEK 5.6b42.4x109x2.7x
Fri, 18 Apr 2025SEK 547.9bSEK 221.4bSEK 5.2b32.3x106.1x2.5x
Sun, 16 Mar 2025SEK 558.6bSEK 206.3bSEK 4.9b37.2x114x2.7x
Tue, 11 Feb 2025SEK 598.2bSEK 220.3bSEK 2.6b41.8x229.2x2.7x
Thu, 09 Jan 2025SEK 582.5bSEK 202.7b-SEK 2,499,057,162.3240.7x-233.1x2.9x
Sat, 07 Dec 2024SEK 574.5bSEK 202.6b-SEK 2,459,994,872.6538.4x-233.6x2.8x
Mon, 04 Nov 2024SEK 524.9bSEK 200.0b-SEK 2,872,934,024.9836.7x-182.7x2.6x
Wed, 02 Oct 2024SEK 611.2bSEK 200.1b-SEK 2,795,616,063.1739.4x-218.6x3.1x
Fri, 30 Aug 2024SEK 607.7bSEK 199.9b-SEK 2,571,442,970.1338.5x-236.3x3x
Sun, 28 Jul 2024SEK 593.0bSEK 200.1b-SEK 2,850,286,974.0841.4x-208.1x3x
Tue, 25 Jun 2024SEK 560.4bSEK 195.4b-SEK 3,182,936,414.0037.3x-176.1x2.9x
Thu, 23 May 2024SEK 550.3bSEK 196.2b-SEK 2,860,289,509.4936.5x-192.4x2.8x
Sat, 20 Apr 2024SEK 509.0bSEK 193.2b-SEK 3,150,066,827.0144.5x-161.6x2.6x
Mon, 18 Mar 2024SEK 521.7bSEK 192.3b-SEK 3,668,536,869.5343.5x-142.2x2.7x
Wed, 14 Feb 2024SEK 507.6bSEK 191.3b-SEK 4,145,819,472.1847.9x-122.4x2.7x
Fri, 12 Jan 2024SEK 549.3bSEK 191.5b-SEK 964,854,476.0047.5x-569.3x2.9x
Sun, 10 Dec 2023SEK 506.7bSEK 190.4b-SEK 1,067,818,862.0051.2x-474.5x2.7x
Tue, 07 Nov 2023SEK 459.0bSEK 190.1b-SEK 1,032,866,207.0039.7x-444.4x2.4x
Thu, 05 Oct 2023SEK 450.0bSEK 185.1b-SEK 2,030,011,851.0034.6x-221.7x2.4x
Sat, 02 Sep 2023SEK 467.3bSEK 185.6b-SEK 2,022,435,186.0038.7x-231.1x2.5x
Mon, 31 Jul 2023SEK 478.9bSEK 183.8b-SEK 984,749,071.0040.3x-486.3x2.6x
Wed, 28 Jun 2023SEK 474.3bSEK 179.1b-SEK 797,046,941.0043x-595x2.6x
Fri, 26 May 2023SEK 512.8bSEK 177.7b-SEK 804,181,914.0041.8x-637.6x2.9x
Sun, 23 Apr 2023SEK 511.2bSEK 173.1b-SEK 1,503,140,075.0035x-340.1x3x
Tue, 21 Mar 2023SEK 479.0bSEK 172.2b-SEK 1,414,010,149.0034.7x-338.7x2.8x
Thu, 16 Feb 2023SEK 511.7bSEK 169.4bSEK 476.3m36.3x1074.3x3x
Sat, 14 Jan 2023SEK 505.0bSEK 165.9bSEK 697.8m33.8x723.7x3x
Price to Earnings Ratio

723.7x


Total Market Cap: SEK 505.0bTotal Earnings: SEK 697.8mTotal Revenue: SEK 165.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -135.2x202420252026
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 158x which is higher than its 3-year average PE of -135x.
  • 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 74% 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 Market0.026%
Healthcare-1.62%
Medical Equipment-0.35%
Pharma-0.38%
Biotech-0.67%
Healthcare Services-3.17%
Life Sciences-4.50%
Healthtech-5.20%
Industry PE
  • Investors are most optimistic about the Healthtech industry even though it's trading below its 3-year average PE ratio of 122x.
    • 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 Pharma industry, expecting annual earnings growth of 35% 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
IMP A SDB ImplanticaSEK 52.304.4%
+SEK 623.3m		54.5%PS694.5x
SOBI Swedish Orphan BiovitrumSEK 333.800.3%
+SEK 344.7m		3.9%PE8849.7x
ORX OrexoSEK 35.7518.8%
+SEK 194.0m		84.9%PS2.3x
QLINEA Q-lineaSEK 33.1532.9%
+SEK 155.6m		-92.6%PS58.5x
CESSA CessatechDKK 20.5528.8%
+DKK 85.3m		74.9%PB29x

Latest News

SECT B
SEK 236.40
Sectra
7D
-5.8%
1Y
-11.0%

SECT B: Cloud Imaging Contracts Will Support Stable Earnings Multiples And Balanced Outlook

Analysts have maintained their Sectra fair value estimate at SEK245.00, citing essentially unchanged assumptions for the discount rate, revenue growth, profit margin and future P/E, which together support a stable price target view. What's in the News Sectra will provide four NHS trusts in Lancashire and South Cumbria with a single Sectra One Cloud enterprise imaging solution, covering 15 hospitals and supporting care for around 1.8 million people through a unified radiology and breast imaging platform (Client Announcements).
EKTA B
SEK 56.95
Elekta
7D
0.4%
1Y
-9.3%

EKTA B: Earnings Headwinds From FX And Tariffs Will Persist

Analysts have maintained their price target for Elekta at €39.00, making only modest adjustments to assumptions on discount rate, revenue growth, profit margin and future P/E. These changes consolidate their existing view rather than signaling a major shift in outlook.
CAMX
SEK 611.00
Camurus
7D
-0.8%
1Y
3.7%

CAMX: Revised Outlook Will Balance Guidance Cut With Pipeline And Partnership Progress

Analysts have trimmed their Camurus fair value estimate from SEK 690.00 to SEK 660.00, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E. What's in the News Camurus revised its 2025 earnings guidance, now expecting total revenue of SEK 2.3b to SEK 2.6b, compared with the previous range of SEK 2.7b to SEK 3.0b, while keeping profit before tax guidance at SEK 0.9b to SEK 1.2b (Key Developments).
QLINEA
SEK 33.15
Q-linea
7D
32.9%
1Y
-92.6%

QLINEA: New Partnerships And Sepsis Panel Expansion Will Support Future Upside

Narrative Update on Q-linea Analysts have kept their fair value estimate for Q-linea steady at SEK53.0, with the unchanged target reflecting only marginal tweaks to assumptions around discount rate, very large forward revenue growth, profit margin and future P/E rather than a shift in their overall view of the company. What's in the News Signed first distribution agreement in South Asia with Genetic Trading in Bangladesh, with product registration underway and an initial instrument order planned for evaluation at a leading hospital (company announcement).
SOBI
SEK 333.80
Swedish Orphan Biovitrum
7D
0.3%
1Y
3.9%

Swedish Orphan Biovitrum (STO:SOBI) Seems To Use Debt Quite Sensibly

Jan 05
Swedish Orphan Biovitrum (STO:SOBI) Seems To Use Debt Quite Sensibly
ASKER
SEK 82.14
Asker Healthcare Group
7D
-2.7%
1Y
n/a

Investors Interested In Asker Healthcare Group AB's (STO:ASKER) Earnings

Jan 04
Investors Interested In Asker Healthcare Group AB's (STO:ASKER) Earnings
ORX
SEK 35.75
Orexo
7D
18.8%
1Y
84.9%
MCOV B
SEK 208.00
Medicover
7D
-5.7%
1Y
10.9%

MCOV B: MRD Study Progress Will Support Steady Long Term Outlook

Analysts have raised their price target on Medicover to SEK 230.73 per share, reflecting modestly stronger expectations for long term revenue growth and profit margins despite an essentially unchanged valuation framework. What's in the News Medicover reported additional data from the ongoing DART phase II clinical study at Oslo University Hospital, using Medicover Genetics' hybrid capture based, tumour agnostic MRD assay in unresectable stage III NSCLC patients (Key Developments).
VITR
SEK 131.30
Vitrolife
7D
-4.2%
1Y
-39.7%

VITR: Restructuring And Goodwill Impairment Will Support Future Upside Potential

Analysts have slightly reduced their price target on Vitrolife, trimming fair value by SEK 4.75 to SEK 188.75, as modestly higher long term growth assumptions are offset by a small downgrade to profitability and a lower expected valuation multiple. What's in the News Vitrolife plans to record a SEK 5.4 billion goodwill impairment in the fourth quarter of 2025 related to the Igenomix acquisition (company announcement).
ALIF B
SEK 150.80
AddLife
7D
-5.2%
1Y
14.0%

ALIF B Stable Margins And Discount Rate Will Support Future Upside Potential

Analysts have slightly reduced their price target on AddLife by SEK 5 to SEK 208.50, citing a modestly higher discount rate, somewhat softer long term revenue growth assumptions, and a marginally lower profit margin outlook, partly offset by a small increase in expected future valuation multiples. Valuation Changes The fair value estimate has fallen slightly from SEK 213.50 to SEK 208.50.
BONEX
SEK 182.70
Bonesupport Holding
7D
-2.8%
1Y
-54.2%

BONEX: De Novo Pathway Shift Will Support Strong Future Market Position

Analysts have modestly raised their price target on Bonesupport Holding, citing a slightly lower discount rate and improved visibility into sustaining approximately 38 percent revenue growth and robust 31 percent profit margins. Together, these factors support a fair value of SEK 391.20 per share.
CURAS
DKK 12.00
Curasight
7D
8.1%
1Y
30.2%
CESSA
DKK 20.55
Cessatech
7D
28.8%
1Y
74.9%
XVIVO
SEK 174.80
Xvivo Perfusion
7D
-6.3%
1Y
-64.4%

XVIVO: Upgrade And SEK 225 Price Signal Will Drive Bullish Re-Rating

Analysts have raised their price target on Xvivo Perfusion to SEK 225, reflecting increased confidence in the company’s growth and profitability profile following the recent upgrade to Buy and the reaffirmation of robust long term revenue and margin assumptions. Analyst Commentary Bullish analysts highlight that the upgraded recommendation and SEK 225 price target signal rising conviction in Xvivo Perfusion’s medium term growth trajectory and execution capabilities.
IMP A SDB
SEK 52.30
Implantica
7D
4.4%
1Y
54.5%
HAMLET B
SEK 4.20
Hamlet BioPharma
7D
14.3%
1Y
1.4%