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Swedish (OMX) Healthcare Sector Analysis

UpdatedJan 23, 2026
DataAggregated Company Financials
Companies151
  • 7D-2.6%
  • 3M-5.9%
  • 1Y-5.5%
  • YTD-0.1%

Over the last 7 days, the Healthcare industry has dropped 2.6%, driven by Getinge declining 5.3%. Meanwhile, Attendo actually outperformed within the industry, gaining 6.2% in the last week. Overall the industry is down 5.5% in 12 months. Looking forward, earnings are forecast to grow by 27% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 23 Jan 2026SEK 597.9bSEK 229.9bSEK 3.7b42.1x163.4x2.6x
Sun, 21 Dec 2025SEK 580.7bSEK 230.6bSEK 3.7b41.6x159.1x2.5x
Tue, 18 Nov 2025SEK 596.4bSEK 230.4bSEK 2.9b44.2x203.4x2.6x
Thu, 16 Oct 2025SEK 595.6bSEK 227.2bSEK 6.7b42.1x89.2x2.6x
Sat, 13 Sep 2025SEK 613.4bSEK 227.0bSEK 6.6b45.5x93x2.7x
Mon, 11 Aug 2025SEK 605.4bSEK 226.8bSEK 6.8b47.1x89x2.7x
Wed, 09 Jul 2025SEK 631.4bSEK 226.8bSEK 6.0b44.9x104.9x2.8x
Fri, 06 Jun 2025SEK 630.5bSEK 226.4bSEK 5.9b43.8x107.4x2.8x
Sun, 04 May 2025SEK 599.5bSEK 223.6bSEK 4.9b36.9x122x2.7x
Tue, 01 Apr 2025SEK 560.9bSEK 221.0bSEK 5.4b35.8x103.8x2.5x
Thu, 27 Feb 2025SEK 587.8bSEK 206.1bSEK 4.4b36.5x133.4x2.9x
Sat, 25 Jan 2025SEK 583.0bSEK 202.6b-SEK 2,674,645,991.0140.6x-218x2.9x
Mon, 23 Dec 2024SEK 575.6bSEK 202.7b-SEK 2,503,527,932.1738.8x-229.9x2.8x
Wed, 20 Nov 2024SEK 502.8bSEK 199.9b-SEK 2,728,483,299.5237.9x-184.3x2.5x
Fri, 18 Oct 2024SEK 595.1bSEK 198.6b-SEK 2,314,740,798.5340x-257.1x3x
Sun, 15 Sep 2024SEK 622.6bSEK 200.0b-SEK 2,795,377,192.9841.1x-222.7x3.1x
Tue, 13 Aug 2024SEK 572.9bSEK 199.5b-SEK 2,609,110,124.0441.3x-219.6x2.9x
Thu, 11 Jul 2024SEK 571.0bSEK 195.8b-SEK 3,206,775,485.6038.5x-178.1x2.9x
Sat, 08 Jun 2024SEK 563.8bSEK 195.9b-SEK 3,096,791,185.5538.2x-182.1x2.9x
Mon, 06 May 2024SEK 537.6bSEK 196.5b-SEK 3,171,705,888.4334.8x-169.5x2.7x
Wed, 03 Apr 2024SEK 520.4bSEK 193.0b-SEK 3,321,080,753.9446.2x-156.7x2.7x
Fri, 01 Mar 2024SEK 503.6bSEK 191.9b-SEK 3,900,710,113.9148.2x-129.1x2.6x
Sun, 28 Jan 2024SEK 551.4bSEK 191.7b-SEK 915,162,632.0049.4x-602.6x2.9x
Tue, 26 Dec 2023SEK 534.3bSEK 191.0b-SEK 960,233,351.0047.8x-556.5x2.8x
Thu, 23 Nov 2023SEK 494.6bSEK 190.0b-SEK 1,226,498,819.0049.9x-403.3x2.6x
Sat, 21 Oct 2023SEK 421.9bSEK 185.4b-SEK 1,948,225,629.0031.5x-216.6x2.3x
Mon, 18 Sep 2023SEK 453.7bSEK 185.7b-SEK 1,988,033,258.0036.2x-228.2x2.4x
Wed, 16 Aug 2023SEK 469.0bSEK 184.3b-SEK 1,029,422,273.0041.8x-455.6x2.5x
Fri, 14 Jul 2023SEK 470.8bSEK 178.8b-SEK 741,943,195.0044.7x-634.6x2.6x
Sun, 11 Jun 2023SEK 511.5bSEK 179.0b-SEK 714,102,762.0040.9x-716.3x2.9x
Tue, 09 May 2023SEK 527.1bSEK 176.7b-SEK 700,463,228.0042.7x-752.5x3x
Thu, 06 Apr 2023SEK 497.6bSEK 172.1b-SEK 1,186,851,890.0034.6x-419.3x2.9x
Sat, 04 Mar 2023SEK 494.9bSEK 171.8b-SEK 1,178,487,169.0038x-419.9x2.9x
Mon, 30 Jan 2023SEK 511.9bSEK 166.1bSEK 528.3m33.1x968.8x3.1x
Price to Earnings Ratio

968.8x


Total Market Cap: SEK 511.9bTotal Earnings: SEK 528.3mTotal Revenue: SEK 166.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -143.5x202420252026
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 -143x.
  • 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 91% per year over the last three years.
  • Revenues for these companies have grown 11% 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 Market-1.41%
Healthcare-2.61%
Healthcare Services-0.28%
Pharma-0.64%
Life Sciences-1.78%
Biotech-2.70%
Medical Equipment-3.80%
Healthtech-5.16%
Industry PE
  • Investors are most optimistic about the Healthtech industry even though it's trading below its 3-year average PE ratio of 120x.
    • 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 38% 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 342.403.3%
+SEK 3.7b		3.1%PE9077.7x
ATT AttendoSEK 88.104.9%
+SEK 579.9m		71.1%PE19.4x
XVIVO Xvivo PerfusionSEK 225.008.0%
+SEK 522.9m		-47.1%PE237x
HNSA Hansa BiopharmaSEK 37.6811.1%
+SEK 382.6m		18.4%PS21.5x
CANTA CantargiaSEK 6.2016.1%
+SEK 213.8m		242.0%PE11x

Latest News

VIMIAN
SEK 28.24
Vimian Group
7D
-8.1%
1Y
-28.5%
CANTA
SEK 6.20
Cantargia
7D
16.1%
1Y
242.0%
ATT
SEK 88.10
Attendo
7D
4.9%
1Y
71.1%

Is Now The Time To Put Attendo (STO:ATT) On Your Watchlist?

Jan 23
Is Now The Time To Put Attendo (STO:ATT) On Your Watchlist?
SOBI
SEK 342.40
Swedish Orphan Biovitrum
7D
3.3%
1Y
3.1%
BONEX
SEK 194.40
Bonesupport Holding
7D
-7.9%
1Y
-43.3%

BONEX: De Novo Review Shift Will Support Long Term Upside Potential

Analysts have trimmed their price target for Bonesupport Holding to SEK 374.60 from SEK 391.20, citing slightly lower assumptions for revenue growth and profit margins, along with a higher future P/E multiple. What's in the News Bonesupport Holding issued earnings guidance for the fourth quarter of 2025 with net sales expected at SEK 313 M, based on constant exchange rates (Corporate guidance).
SECT B
SEK 223.00
Sectra
7D
-3.1%
1Y
-10.4%

SECT B: Cloud Imaging Expansion And Pathology Deals Will Support Balanced Outlook

Analysts have kept their fair value estimate for Sectra steady at SEK 245.0, with only marginal tweaks to assumptions such as the discount rate, long term revenue growth, profit margin and future P/E to reflect updated modelling rather than a change in overall view. What's in the News Sectra and partner Matsunami Glass have begun implementing their first digital pathology project in Japan at Kameda Medical Center, marking Sectra's entry into the Japanese digital pathology market following a contract signed in the second quarter of the 2025/2026 fiscal year (Key Developments).
HNSA
SEK 37.68
Hansa Biopharma
7D
11.1%
1Y
18.4%

HNSA: FDA Kidney Transplant Filing Will Drive De-Risked Upside Potential

Analysts have nudged their price expectations for Hansa Biopharma higher, citing new SEK 69 and SEK 100 targets and arguing that the company’s de-risked commercial profile, lead asset imlifidase in kidney transplantation, and potential appeal as an acquisition candidate support a modestly richer P/E driven fair value of SEK 111 per share. Analyst Commentary Recent Street research has leaned constructive on Hansa Biopharma, with price targets clustered around SEK 69 to SEK 100 and commentary that frames the company as a de-risked commercial story anchored by imlifidase in kidney transplantation.
GETI B
SEK 211.10
Getinge
7D
-5.1%
1Y
6.6%

Return Trends At Getinge (STO:GETI B) Aren't Appealing

Jan 16
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ALIF B
SEK 145.40
AddLife
7D
-4.4%
1Y
3.3%
BIOA B
SEK 311.00
BioArctic
7D
-5.5%
1Y
42.9%
MCOV B
SEK 205.00
Medicover
7D
-3.1%
1Y
-1.2%

MCOV B: MRD Study Progress Will Support Balanced Long Term Prospects

Analysts have lifted their price target on Medicover to €230.73 per share, reflecting updated assumptions that combine a higher revenue growth outlook of 13.50% with a slightly lower profit margin of 4.09% and a modestly higher future P/E of 27.52x. What's in the News Additional results from the ongoing DART clinical study using Medicover Genetics' hybrid capture based, tumour agnostic MRD assay were presented at the European Society for Medical Oncology Congress in Berlin on 18 October 2025.
XVIVO
SEK 225.00
Xvivo Perfusion
7D
8.0%
1Y
-47.1%

XVIVO: Recent Upgrade And SEK 225 Level Will Support Bullish Repricing

Analysts have trimmed their fair value estimate for Xvivo Perfusion by about SEK 2 to SEK 317.6, reflecting slightly adjusted assumptions on growth and margins. They also point to the recent upgrade to Buy from Hold and a SEK 225 target as support for a more constructive view on the shares.
VITR
SEK 124.30
Vitrolife
7D
-6.6%
1Y
-43.0%

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).
ASKER
SEK 79.06
Asker Healthcare Group
7D
0.4%
1Y
n/a
VICO
SEK 12.52
Vicore Pharma Holding
7D
4.9%
1Y
45.4%
SANION
SEK 25.05
Saniona
7D
6.4%
1Y
251.8%

There's No Escaping Saniona AB (publ)'s (STO:SANION) Muted Revenues Despite A 35% Share Price Rise

Dec 23
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