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Swedish (OMX) Healthcare Sector Analysis

UpdatedMar 12, 2026
DataAggregated Company Financials
Companies151
  • 7D0.6%
  • 3M-6.0%
  • 1Y-2.1%
  • YTD-4.4%

The Healthcare is pretty flat in the last 7 days, but Sectra has stood out, gaining 18%. In line with that, the industry has also been flat over the past 12 months. Earnings are forecast to grow by 25% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 13 Mar 2026SEK 557.5bSEK 228.5b-SEK 2,927,947,866.3230.5x-190.4x2.4x
Sun, 08 Feb 2026SEK 582.6bSEK 229.3b-SEK 1,816,881,182.0734x-320.6x2.5x
Tue, 06 Jan 2026SEK 578.8bSEK 230.3bSEK 3.7b40.7x157.6x2.5x
Thu, 04 Dec 2025SEK 588.0bSEK 230.7bSEK 3.6b42.1x164x2.5x
Sat, 01 Nov 2025SEK 610.3bSEK 228.3bSEK 3.3b46.3x183.4x2.7x
Mon, 29 Sep 2025SEK 593.6bSEK 227.1bSEK 6.6b43.5x89.8x2.6x
Wed, 27 Aug 2025SEK 629.5bSEK 227.3bSEK 6.5b47.3x97.6x2.8x
Fri, 25 Jul 2025SEK 638.2bSEK 226.0bSEK 6.4b50.5x99.3x2.8x
Sun, 22 Jun 2025SEK 593.9bSEK 226.9bSEK 5.9b45x101.4x2.6x
Tue, 20 May 2025SEK 610.5bSEK 224.9bSEK 5.6b43.9x109.3x2.7x
Thu, 17 Apr 2025SEK 547.4bSEK 221.8bSEK 5.5b32.7x99.6x2.5x
Sat, 15 Mar 2025SEK 558.6bSEK 206.4bSEK 4.9b37.2x114x2.7x
Mon, 10 Feb 2025SEK 600.9bSEK 220.4bSEK 2.5b42x238.4x2.7x
Wed, 08 Jan 2025SEK 585.5bSEK 202.7b-SEK 2,498,966,853.1541.3x-234.3x2.9x
Fri, 06 Dec 2024SEK 567.9bSEK 202.5b-SEK 2,446,380,573.0937.8x-232.2x2.8x
Sun, 03 Nov 2024SEK 524.9bSEK 200.0b-SEK 2,887,185,216.9836.7x-181.8x2.6x
Tue, 01 Oct 2024SEK 624.6bSEK 200.0b-SEK 2,815,788,245.8340.7x-221.8x3.1x
Thu, 29 Aug 2024SEK 605.4bSEK 199.9b-SEK 2,307,475,072.1639.5x-262.4x3x
Sat, 27 Jul 2024SEK 593.0bSEK 200.1b-SEK 2,851,179,974.0841.4x-208x3x
Mon, 24 Jun 2024SEK 557.3bSEK 195.5b-SEK 3,182,934,253.1735.3x-175.1x2.9x
Wed, 22 May 2024SEK 549.7bSEK 196.2b-SEK 2,898,290,123.2937.1x-189.7x2.8x
Fri, 19 Apr 2024SEK 509.0bSEK 193.2b-SEK 3,150,066,827.0144.5x-161.6x2.6x
Sun, 17 Mar 2024SEK 521.7bSEK 192.3b-SEK 3,668,536,869.5343.5x-142.2x2.7x
Tue, 13 Feb 2024SEK 509.4bSEK 191.0b-SEK 4,141,571,119.4747.8x-123x2.7x
Thu, 11 Jan 2024SEK 551.5bSEK 191.4b-SEK 963,622,982.0047.7x-572.3x2.9x
Sat, 09 Dec 2023SEK 506.7bSEK 190.4b-SEK 1,067,979,885.0051.2x-474.4x2.7x
Mon, 06 Nov 2023SEK 458.1bSEK 190.0b-SEK 1,067,305,617.0040.3x-429.2x2.4x
Wed, 04 Oct 2023SEK 450.0bSEK 185.1b-SEK 2,029,179,031.0034.9x-221.8x2.4x
Fri, 01 Sep 2023SEK 467.2bSEK 185.5b-SEK 2,091,654,234.0038x-223.4x2.5x
Sun, 30 Jul 2023SEK 478.9bSEK 183.8b-SEK 984,749,071.0040.3x-486.3x2.6x
Tue, 27 Jun 2023SEK 474.2bSEK 179.1b-SEK 798,980,189.0043.4x-593.6x2.6x
Thu, 25 May 2023SEK 512.8bSEK 177.7b-SEK 804,181,914.0041.8x-637.6x2.9x
Sat, 22 Apr 2023SEK 511.2bSEK 173.1b-SEK 1,502,209,816.0035x-340.3x3x
Mon, 20 Mar 2023SEK 482.8bSEK 172.4b-SEK 1,416,844,503.0035.9x-340.7x2.8x
Price to Earnings Ratio

-340.7x


Total Market Cap: SEK 482.8bTotal Earnings: -SEK 1,416,844,503.00Total Revenue: SEK 172.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -166.7x202420252026
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 2.4x.
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-1.84%
Healthcare0.60%
Healthtech14.11%
Healthcare Services0.60%
Biotech0.33%
Pharma-1.36%
Medical Equipment-2.26%
Life Sciences-3.13%
Industry PE
  • Investors are most optimistic about the Healthtech industry which is trading above its 3-year average PE ratio of 115x.
    • 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
SECT B SectraSEK 227.8022.5%
+SEK 8.1b		3.0%PE81.7x
ASKER Asker Healthcare GroupSEK 66.034.4%
+SEK 1.1b		n/aPE54.9x
MVIR MedivirSEK 2.6979.0%
+SEK 638.3m		89.1%PS170.2x
BIOA B BioArcticSEK 306.802.3%
+SEK 603.3m		43.5%PE26.6x
VIMIAN Vimian GroupSEK 25.381.4%
+SEK 179.9m		-32.7%PE39.8x

Latest News

GETI B
SEK 190.25
Getinge
7D
-3.2%
1Y
-12.4%

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).
MVIR
SEK 2.69
Medivir
7D
79.0%
1Y
89.1%

Rare Disease And Liver Cancer Setbacks Will Test This High Risk Pipeline Story

Catalysts About Medivir Medivir is a research based pharmaceutical company focused on developing first in class therapies for oncology and rare bone disorders. What are the underlying business or industry changes driving this perspective?
FLERIE
SEK 33.25
Flerie
7D
-10.4%
1Y
-25.0%
SECT B
SEK 227.80
Sectra
7D
22.5%
1Y
3.0%
BIOA B
SEK 306.80
BioArctic
7D
2.3%
1Y
43.5%

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.
BONEX
SEK 194.40
Bonesupport Holding
7D
-3.7%
1Y
-40.3%

BONEX: Clinical Pilot Results And Strong Guidance Will Support Long-Term Upside Potential

Analysts have trimmed their price target on Bonesupport Holding by SEK 4 to SEK 366.6. This reflects updated assumptions around discount rates, revenue growth and profitability, while keeping future P/E expectations broadly in line with previous views. What's in the News Bonesupport announced the first publication of a US clinical pilot study on the surgical technique and outcomes of CERAMENT G in trauma, giving clinicians practical, real world insights into its use in trauma cases.
MCOV B
SEK 205.50
Medicover
7D
-1.2%
1Y
6.1%

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).
SOBI
SEK 379.20
Swedish Orphan Biovitrum
7D
-0.5%
1Y
32.4%

SOBI: Kidney And Sepsis Advances Will Support A More Upbeat Outlook

The analyst fair value estimate for Swedish Orphan Biovitrum has been adjusted from SEK 416 to SEK 424, reflecting recent price target increases to SEK 470 and SEK 500, as well as updated analyst views on revenue growth, margins and future P/E assumptions. Analyst Commentary Recent Street research on Swedish Orphan Biovitrum presents a mix of optimism and caution around the shares, which helps frame the updated fair value estimate of SEK 424.
EKTA B
SEK 57.00
Elekta
7D
0.8%
1Y
2.4%
VIMIAN
SEK 25.38
Vimian Group
7D
1.4%
1Y
-32.7%

VIMIAN: Reduced Price Outlook And Execution Risks Will Shape Fairly Balanced Prospects

Analysts have lowered their price target on Vimian Group to SEK 25 from SEK 27, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E multiples. Analyst Commentary Bearish analysts have trimmed their fair value assumptions for Vimian Group, as seen in the reduced price target to SEK 25 from SEK 27.
ALIF B
SEK 142.00
AddLife
7D
-2.0%
1Y
0.7%
CAMX
SEK 470.80
Camurus
7D
-2.1%
1Y
-19.6%

CAMX: Upcoming US And EU Launches Will Drive Future Upside Potential

Analysts have reset their price target on Camurus to SEK 930 from SEK 1,102, reflecting updated views on slightly higher forecast revenue growth, a modestly lower projected profit margin and a reduced future P/E multiple. What's in the News Camurus issued earnings guidance for 2026, expecting revenues of SEK 2.6b to SEK 2.9b and an operating result of SEK 0.9b to SEK 1.2b (Corporate guidance).
SANION
SEK 16.34
Saniona
7D
7.2%
1Y
126.0%
IMP A SDB
SEK 40.60
Implantica
7D
-7.2%
1Y
27.3%
ASKER
SEK 66.03
Asker Healthcare Group
7D
4.4%
1Y
n/a
DICOT
SEK 0.36
Dicot Pharma
7D
21.4%
1Y
41.4%

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Feb 03
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