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Swedish (OMX) Healthcare Sector Analysis

UpdatedFeb 11, 2026
DataAggregated Company Financials
Companies152
  • 7D3.0%
  • 3M-5.5%
  • 1Y-7.9%
  • YTD0.2%

The Healthcare industry is up 2.1% in the last week, with Swedish Orphan Biovitrum up 12%. In the past year, the industry is down 8.8%. 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
Wed, 11 Feb 2026SEK 583.9bSEK 229.2b-SEK 1,797,518,418.9733.1x-324.9x2.5x
Fri, 09 Jan 2026SEK 597.1bSEK 230.3bSEK 3.7b41.7x162.6x2.6x
Sun, 07 Dec 2025SEK 595.3bSEK 230.8bSEK 3.6b42.6x167.7x2.6x
Tue, 04 Nov 2025SEK 604.3bSEK 228.2bSEK 3.4b45.5x180.1x2.6x
Thu, 02 Oct 2025SEK 607.1bSEK 227.1bSEK 6.6b43.1x91.9x2.7x
Sat, 30 Aug 2025SEK 624.6bSEK 227.0bSEK 6.5b46.8x96.6x2.8x
Mon, 28 Jul 2025SEK 639.6bSEK 226.9bSEK 6.5b54.5x97.8x2.8x
Wed, 25 Jun 2025SEK 605.1bSEK 226.7bSEK 5.9b44.2x103.3x2.7x
Fri, 23 May 2025SEK 593.2bSEK 226.1bSEK 6.7b37.6x88.9x2.6x
Sun, 20 Apr 2025SEK 547.9bSEK 221.4bSEK 5.2b32.3x106.1x2.5x
Tue, 18 Mar 2025SEK 557.9bSEK 206.3bSEK 4.9b37.1x113.9x2.7x
Thu, 13 Feb 2025SEK 594.7bSEK 204.7bSEK 1.9b42.1x306.5x2.9x
Sat, 11 Jan 2025SEK 581.1bSEK 202.7b-SEK 2,498,875,309.5841.1x-232.5x2.9x
Mon, 09 Dec 2024SEK 574.5bSEK 202.6b-SEK 2,458,596,674.2638.4x-233.7x2.8x
Wed, 06 Nov 2024SEK 525.5bSEK 200.1b-SEK 2,883,076,729.2037.5x-182.3x2.6x
Fri, 04 Oct 2024SEK 607.1bSEK 200.1b-SEK 2,782,783,187.3139x-218.2x3x
Sun, 01 Sep 2024SEK 616.6bSEK 200.0b-SEK 2,803,385,491.0341.3x-219.9x3.1x
Tue, 30 Jul 2024SEK 586.9bSEK 200.0b-SEK 2,850,253,755.3441.3x-205.9x2.9x
Thu, 27 Jun 2024SEK 558.9bSEK 195.6b-SEK 3,183,088,481.9836.4x-175.6x2.9x
Sat, 25 May 2024SEK 553.7bSEK 196.1b-SEK 2,796,169,497.7836.5x-198x2.8x
Mon, 22 Apr 2024SEK 509.5bSEK 193.1b-SEK 3,154,359,283.3344.5x-161.5x2.6x
Wed, 20 Mar 2024SEK 517.0bSEK 192.4b-SEK 3,668,848,510.3543.6x-140.9x2.7x
Fri, 16 Feb 2024SEK 515.4bSEK 191.2b-SEK 4,131,757,269.2449.6x-124.7x2.7x
Sun, 14 Jan 2024SEK 558.9bSEK 191.5b-SEK 965,181,563.0048.1x-579.1x2.9x
Tue, 12 Dec 2023SEK 505.1bSEK 190.5b-SEK 1,068,465,929.0050.6x-472.8x2.7x
Thu, 09 Nov 2023SEK 462.5bSEK 190.1b-SEK 1,189,319,911.0048.2x-388.9x2.4x
Sat, 07 Oct 2023SEK 447.6bSEK 185.1b-SEK 2,032,365,793.0034.3x-220.2x2.4x
Mon, 04 Sep 2023SEK 467.5bSEK 185.6b-SEK 1,979,325,492.0038.7x-236.2x2.5x
Wed, 02 Aug 2023SEK 479.7bSEK 183.9b-SEK 984,207,190.0039.9x-487.4x2.6x
Fri, 30 Jun 2023SEK 475.4bSEK 179.3b-SEK 796,616,736.0044.3x-596.7x2.7x
Sun, 28 May 2023SEK 515.6bSEK 178.7b-SEK 548,140,751.0044.1x-940.7x2.9x
Tue, 25 Apr 2023SEK 512.0bSEK 173.1b-SEK 1,483,819,369.0034.2x-345x3x
Thu, 23 Mar 2023SEK 479.2bSEK 172.3b-SEK 1,415,465,557.0036.2x-338.6x2.8x
Sat, 18 Feb 2023SEK 504.1bSEK 169.4b-SEK 107,218,617.0034.9x-4701.5x3x
Price to Earnings Ratio

-4701.5x


Total Market Cap: SEK 504.1bTotal Earnings: -SEK 107,218,617.00Total Revenue: SEK 169.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -167.2x202420252026
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
  • Total earnings for the Healthcare industry have declined over the last three years, with the industry now making a loss overall.
  • Meanwhile revenues have grown 11% 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 decreased profits.

Industry Trends

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

SE Market1.59%
Healthcare3.05%
Biotech6.00%
Life Sciences5.86%
Healthcare Services4.29%
Pharma1.59%
Medical Equipment0.25%
Healthtech-4.22%
Industry PE
  • Investors are most optimistic about the Healthtech industry even though it's trading below its 3-year average PE ratio of 117x.
    • 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 36% over the next 5 years.
  • However this is lower than its past earnings growth rate of 97% per year.
  • In contrast, the Life Sciences 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
SOBI Swedish Orphan BiovitrumSEK 399.8012.1%
+SEK 15.2b		24.9%PE289.1x
MCOV B MedicoverSEK 219.007.4%
+SEK 2.3b		4.3%PE46.4x
ATT AttendoSEK 101.0011.5%
+SEK 1.5b		61.6%PE18x
GETI B GetingeSEK 206.402.7%
+SEK 1.5b		-2.9%PE24.9x
ALIF B AddLifeSEK 147.008.9%
+SEK 1.5b		-16.5%PE32x

Latest News

MCOV B
SEK 219.00
Medicover
7D
7.4%
1Y
4.3%

With Medicover AB (publ) (STO:MCOV B) It Looks Like You'll Get What You Pay For

Feb 11
With Medicover AB (publ) (STO:MCOV B) It Looks Like You'll Get What You Pay For
SOBI
SEK 399.80
Swedish Orphan Biovitrum
7D
12.1%
1Y
24.9%
BIOA B
SEK 326.00
BioArctic
7D
-1.5%
1Y
48.5%
ALIF B
SEK 147.00
AddLife
7D
8.9%
1Y
-16.5%

AddLife (STO:ALIF B) Is Increasing Its Dividend To SEK1.50

Feb 10
AddLife (STO:ALIF B) Is Increasing Its Dividend To SEK1.50
ATT
SEK 101.00
Attendo
7D
11.5%
1Y
61.6%

ATT: Updated Cash Returns And Margins Will Support Measured Future Prospects

Analysts have lifted their fair value estimate for Attendo from €90 to €110. They point to revised assumptions for revenue growth, profit margins and a slightly lower discount rate as key drivers of the change.
XVIVO
SEK 191.00
Xvivo Perfusion
7D
-9.7%
1Y
-59.6%

XVIVO: Higher Required Returns Will Still Support Attractive Upside Potential

Analysts have reduced their fair value estimate for Xvivo Perfusion to $385 from $425, citing slightly higher discount rate assumptions, more cautious views on revenue growth and profit margins, and a higher applied future P/E multiple. Valuation Changes Fair Value: Reduced from SEK 425 to SEK 385, reflecting a more conservative overall valuation input set.
HUM
SEK 43.45
Humana
7D
-8.5%
1Y
12.4%

Humana's (STO:HUM) Dividend Will Be Increased To SEK1.35

Feb 09
Humana's (STO:HUM) Dividend Will Be Increased To SEK1.35
CEVI
SEK 161.00
CellaVision
7D
14.2%
1Y
-18.3%
IMP A SDB
SEK 46.00
Implantica
7D
-6.2%
1Y
7.0%
ARJO B
SEK 27.64
Arjo
7D
5.1%
1Y
-27.8%

ARJO B: Fair Value Will Reflect Lower Margins And Higher Required Returns

Analysts have trimmed their price target on Arjo from €32 to €28, citing updated assumptions for slightly lower revenue growth, slimmer profit margins and a higher discount rate, partly balanced by a higher future P/E multiple. Valuation Changes Fair Value Estimate reduced from €32 to €28, reflecting updated modelling inputs.
BIOG B
SEK 109.00
BioGaia
7D
-5.5%
1Y
-15.8%

BIOG B: Serotonin Producing Gut Bacteria Will Support Higher Future Earnings Multiple

Analysts have maintained their fair value estimate for BioGaia at SEK 140.0, with only slight technical adjustments to inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions, resulting in a largely unchanged price target narrative. Valuation Changes Fair Value: Kept steady at SEK 140.0, indicating no change in the headline valuation level.
SECT B
SEK 198.90
Sectra
7D
-4.6%
1Y
-21.0%

SECT B: Cloud Contracts And Pathology Expansion Will Support Future Upside Potential

Analysts have reaffirmed their price target on Sectra at SEK 245.00, with only marginal tweaks to underlying model inputs such as discount rate, revenue growth, profit margin and future P/E assumptions, supporting an unchanged view of fair value. What's in the News TUM Klinikum in Germany is expanding its Sectra enterprise imaging setup with pathology and ophthalmology modules under a five year contract covering up to 300,000 examinations per year, aimed at higher efficiency and closer collaboration across departments (Client announcement).
GETI B
SEK 206.40
Getinge
7D
2.7%
1Y
-2.9%
ASKER
SEK 70.65
Asker Healthcare Group
7D
-1.3%
1Y
n/a
VITR
SEK 89.60
Vitrolife
7D
-2.5%
1Y
-55.3%
CAMX
SEK 691.00
Camurus
7D
1.3%
1Y
17.9%

CAMX: Obesity Data And Resubmitted NDA Will Drive Future Upside Potential

Analysts have lifted their price target on Camurus from SEK 793.71 to SEK 814.17, citing updated assumptions around revenue growth, margin potential, and a lower future P/E multiple as key drivers of the change. What's in the News The U.S. FDA accepted Camurus' resubmitted New Drug Application for Oclaiz (CAM2029) for acromegaly treatment and set a PDUFA target action date of 10 June 2026, following an earlier Complete Response Letter related to a third party manufacturing facility (Key Developments).