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Swedish (OMX) Healthcare Sector Analysis

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies151
  • 7D3.5%
  • 3M-0.3%
  • 1Y-3.0%
  • YTD3.5%

The Healthcare industry is up 3.5% in the last week, with Swedish Orphan Biovitrum up 5.3%. In the past year, the industry is down 3.0%. Earnings are forecast to grow by 26% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 Jan 2026SEK 599.8bSEK 230.2bSEK 3.7b41x163.5x2.6x
Tue, 09 Dec 2025SEK 591.0bSEK 230.7bSEK 3.5b41.7x166.5x2.6x
Thu, 06 Nov 2025SEK 591.0bSEK 228.3bSEK 2.5b44.4x235.9x2.6x
Sat, 04 Oct 2025SEK 614.2bSEK 227.1bSEK 6.6b43.2x93x2.7x
Mon, 01 Sep 2025SEK 623.6bSEK 227.3bSEK 6.6b46.8x94.9x2.7x
Wed, 30 Jul 2025SEK 649.0bSEK 226.8bSEK 6.5b55.9x99.2x2.9x
Fri, 27 Jun 2025SEK 605.8bSEK 226.8bSEK 5.9b44.9x103.5x2.7x
Sun, 25 May 2025SEK 587.2bSEK 226.0bSEK 6.6b37x88.8x2.6x
Tue, 22 Apr 2025SEK 548.1bSEK 221.4bSEK 5.2b33.6x106.2x2.5x
Thu, 20 Mar 2025SEK 558.2bSEK 206.3bSEK 5.0b37.3x111.9x2.7x
Sat, 15 Feb 2025SEK 594.9bSEK 206.4bSEK 2.5b41.7x235.5x2.9x
Mon, 13 Jan 2025SEK 581.1bSEK 201.5b-SEK 2,657,438,736.2740.7x-218.7x2.9x
Wed, 11 Dec 2024SEK 572.8bSEK 202.6b-SEK 2,457,579,486.5337.9x-233.1x2.8x
Fri, 08 Nov 2024SEK 524.8bSEK 199.9b-SEK 2,617,639,492.4737.5x-200.5x2.6x
Sun, 06 Oct 2024SEK 607.5bSEK 200.2b-SEK 2,782,910,611.7639.8x-218.3x3x
Tue, 03 Sep 2024SEK 611.2bSEK 200.0b-SEK 2,803,888,083.8842.3x-218x3.1x
Thu, 01 Aug 2024SEK 592.1bSEK 199.7b-SEK 2,762,731,708.4442.1x-214.3x3x
Sat, 29 Jun 2024SEK 561.9bSEK 195.7b-SEK 3,202,643,667.9236.8x-175.5x2.9x
Mon, 27 May 2024SEK 553.7bSEK 196.1b-SEK 2,796,375,625.7836.5x-198x2.8x
Wed, 24 Apr 2024SEK 521.9bSEK 193.3b-SEK 3,279,840,759.5643.7x-159.1x2.7x
Fri, 22 Mar 2024SEK 523.2bSEK 192.5b-SEK 3,668,734,466.5344.4x-142.6x2.7x
Sun, 18 Feb 2024SEK 516.9bSEK 191.7b-SEK 4,080,444,504.7249.9x-126.7x2.7x
Tue, 16 Jan 2024SEK 548.3bSEK 191.5b-SEK 966,049,928.0048x-567.5x2.9x
Thu, 14 Dec 2023SEK 503.9bSEK 191.3b-SEK 1,013,947,502.0047x-497x2.6x
Sat, 11 Nov 2023SEK 470.7bSEK 190.3b-SEK 1,053,916,718.0049.4x-446.6x2.5x
Mon, 09 Oct 2023SEK 447.6bSEK 185.1b-SEK 2,032,952,939.0034.3x-220.2x2.4x
Wed, 06 Sep 2023SEK 460.4bSEK 185.6b-SEK 2,036,613,372.0037.8x-226x2.5x
Fri, 04 Aug 2023SEK 472.0bSEK 184.0b-SEK 1,006,517,861.0039.1x-469x2.6x
Sun, 02 Jul 2023SEK 480.3bSEK 179.2b-SEK 795,007,793.0044.7x-604.2x2.7x
Tue, 30 May 2023SEK 510.8bSEK 178.7b-SEK 546,541,263.0043.5x-934.5x2.9x
Thu, 27 Apr 2023SEK 511.7bSEK 173.4b-SEK 1,511,475,397.0034.2x-338.5x3x
Sat, 25 Mar 2023SEK 482.3bSEK 172.4b-SEK 1,417,053,012.0035.3x-340.4x2.8x
Mon, 20 Feb 2023SEK 505.8bSEK 169.7b-SEK 564,866,730.0037.2x-895.4x3x
Wed, 18 Jan 2023SEK 518.6bSEK 165.8bSEK 672.1m33.2x771.7x3.1x
Price to Earnings Ratio

771.7x


Total Market Cap: SEK 518.6bTotal Earnings: SEK 672.1mTotal Revenue: SEK 165.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -137.1x202420252026
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 163x which is higher than its 3-year average PE of -137x.
  • 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 Market2.90%
Healthcare3.51%
Pharma6.01%
Biotech4.61%
Healthcare Services3.32%
Medical Equipment2.88%
Life Sciences1.92%
Healthtech0.011%
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 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
SOBI Swedish Orphan BiovitrumSEK 347.805.3%
+SEK 6.0b		11.0%PE9220.9x
CAMX CamurusSEK 665.008.7%
+SEK 3.2b		10.6%PE50.7x
BIOA B BioArcticSEK 333.007.1%
+SEK 2.0b		61.0%PE29.5x
GETI B GetingeSEK 224.403.1%
+SEK 1.9b		19.0%PE29.8x
ASKER Asker Healthcare GroupSEK 85.904.4%
+SEK 1.4b		n/aPE62.2x

Latest News

VITR
SEK 130.50
Vitrolife
7D
-1.9%
1Y
-37.3%

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).
CAMX
SEK 665.00
Camurus
7D
8.7%
1Y
10.6%
BIOA B
SEK 333.00
BioArctic
7D
7.1%
1Y
61.0%

BIOA B: Future Earnings Will Depend On Risky Alzheimer Access Rollout

Analysts have maintained their fair value estimate for BioArctic at SEK 230.00. They have, however, adjusted assumptions related to the discount rate, revenue trends, profit margins, and future P/E to reflect updated views on the company’s risk profile and earnings potential.
ASKER
SEK 85.90
Asker Healthcare Group
7D
4.4%
1Y
n/a
SOBI
SEK 347.80
Swedish Orphan Biovitrum
7D
5.3%
1Y
11.0%

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 32.52
Vimian Group
7D
6.0%
1Y
-12.2%

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.
SECT B
SEK 238.80
Sectra
7D
-0.3%
1Y
-9.6%

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).
OSSD
SEK 10.50
OssDsign
7D
-7.1%
1Y
-8.2%

OSSD: New US Focused Leadership Will Shape Bullish Future Outlook

Analysts have adjusted their price target on OssDsign to $13.50, reflecting updated assumptions around revenue growth, profit margin and a much higher implied future P/E multiple, while keeping their fair value estimate unchanged at $13.50. What's in the News OssDsign AB appointed Mark Waugh as CEO, effective January 1, 2026, following five years of leadership under outgoing CEO Morten Henneveld (Key Developments).
EKTA B
SEK 60.00
Elekta
7D
5.7%
1Y
-4.4%

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.
GETI B
SEK 224.40
Getinge
7D
3.1%
1Y
19.0%

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
EGTX
SEK 4.53
Egetis Therapeutics
7D
-12.4%
1Y
-28.1%
MCOV B
SEK 218.50
Medicover
7D
3.1%
1Y
13.6%

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).
EQL
SEK 55.40
EQL Pharma
7D
-6.4%
1Y
-28.8%
ONCO
SEK 4.57
Oncopeptides
7D
-6.3%
1Y
193.3%

ONCO: Improved Profitability And NK Cell Platform Will Drive Long-Term Upside

Analysts have raised their price target on Oncopeptides from approximately SEK 4.50 to SEK 5.50 per share, citing expectations of stronger long term profitability, supported by higher projected profit margins and a lower future price to earnings multiple, despite slightly tempered revenue growth assumptions and a modestly higher discount rate. What's in the News Panel of leading multiple myeloma experts publishes clinical recommendations in Annals of Hematology on optimal use of Pepaxti (melflufen), reinforcing its role as an important option for relapsed, refractory multiple myeloma, including elderly and high risk patients, with a manageable safety profile (company announcement).
SECARE
SEK 37.55
Swedencare
7D
-2.8%
1Y
-16.0%
IMP A SDB
SEK 50.30
Implantica
7D
-2.7%
1Y
30.1%