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Swedish (OMX) Healthcare Sector Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies149
  • 7D-4.0%
  • 3M-9.2%
  • 1Y-8.8%
  • YTD-8.5%

Over the last 7 days, the Healthcare industry has dropped 4.0%, driven by a pullback from Swedish Orphan Biovitrum of 5.3%. In contrast, Xvivo Perfusion has gained 10%. The industry has fallen 8.8% in the last year. As for the next few years, earnings are expected to grow by 24% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026SEK 533.7bSEK 229.0b-SEK 2,823,312,155.4929.3x-189x2.3x
Fri, 20 Feb 2026SEK 565.0bSEK 229.2b-SEK 1,692,766,997.6231.1x-333.8x2.5x
Sun, 18 Jan 2026SEK 609.6bSEK 230.2bSEK 3.7b42.6x166.2x2.6x
Tue, 16 Dec 2025SEK 581.3bSEK 230.8bSEK 3.6b40.9x160.7x2.5x
Thu, 13 Nov 2025SEK 604.8bSEK 230.2bSEK 3.0b46x203.3x2.6x
Sat, 11 Oct 2025SEK 600.2bSEK 227.2bSEK 6.7b43.1x89.9x2.6x
Mon, 08 Sep 2025SEK 615.0bSEK 227.2bSEK 6.6b44.1x93.1x2.7x
Wed, 06 Aug 2025SEK 614.0bSEK 226.9bSEK 6.8b49.3x89.8x2.7x
Fri, 04 Jul 2025SEK 626.9bSEK 227.1bSEK 6.0b45x104.1x2.8x
Sun, 01 Jun 2025SEK 601.7bSEK 226.3bSEK 5.9b42.2x102.6x2.7x
Tue, 29 Apr 2025SEK 569.3bSEK 222.4bSEK 5.0b36.7x114x2.6x
Thu, 27 Mar 2025SEK 539.7bSEK 205.8bSEK 5.1b36.8x106.9x2.6x
Sat, 22 Feb 2025SEK 588.5bSEK 205.8bSEK 4.2b39.1x138.8x2.9x
Mon, 20 Jan 2025SEK 580.7bSEK 202.7b-SEK 2,464,143,758.1041.9x-235.7x2.9x
Wed, 18 Dec 2024SEK 569.4bSEK 202.7b-SEK 2,527,137,666.9839.2x-225.3x2.8x
Fri, 15 Nov 2024SEK 532.2bSEK 200.1b-SEK 2,658,546,901.4237.1x-200.2x2.7x
Sun, 13 Oct 2024SEK 593.8bSEK 198.5b-SEK 2,314,583,675.4640x-256.5x3x
Tue, 10 Sep 2024SEK 618.0bSEK 200.3b-SEK 2,833,543,843.1240.2x-218.1x3.1x
Thu, 08 Aug 2024SEK 568.6bSEK 199.4b-SEK 2,608,080,784.2840.3x-218x2.9x
Sat, 06 Jul 2024SEK 563.9bSEK 195.7b-SEK 3,202,671,925.2437.3x-176.1x2.9x
Mon, 03 Jun 2024SEK 571.3bSEK 195.8b-SEK 3,084,802,939.2437.4x-185.2x2.9x
Wed, 01 May 2024SEK 537.4bSEK 196.3b-SEK 3,297,700,946.5837.4x-162.9x2.7x
Fri, 29 Mar 2024SEK 527.4bSEK 192.9b-SEK 3,674,703,323.2846x-143.5x2.7x
Sun, 25 Feb 2024SEK 508.1bSEK 191.8b-SEK 4,034,696,324.8848.8x-125.9x2.6x
Tue, 23 Jan 2024SEK 544.3bSEK 191.7b-SEK 968,620,016.0050.8x-561.9x2.8x
Thu, 21 Dec 2023SEK 528.6bSEK 191.2b-SEK 935,318,767.0048.3x-565.1x2.8x
Sat, 18 Nov 2023SEK 490.1bSEK 190.0b-SEK 1,287,352,011.0050.5x-380.7x2.6x
Mon, 16 Oct 2023SEK 434.9bSEK 185.1b-SEK 1,978,723,482.0033.2x-219.8x2.3x
Wed, 13 Sep 2023SEK 450.8bSEK 185.7b-SEK 2,015,154,042.0036.5x-223.7x2.4x
Fri, 11 Aug 2023SEK 477.5bSEK 184.0b-SEK 1,022,895,716.0042.4x-466.8x2.6x
Sun, 09 Jul 2023SEK 476.9bSEK 179.4b-SEK 794,079,163.0044.8x-600.5x2.7x
Tue, 06 Jun 2023SEK 516.0bSEK 178.9b-SEK 508,688,956.0041.3x-1014.4x2.9x
Thu, 04 May 2023SEK 518.8bSEK 176.2b-SEK 744,021,257.0038.3x-697.3x2.9x
Sat, 01 Apr 2023SEK 494.4bSEK 172.5b-SEK 1,399,898,502.0035.6x-353.2x2.9x
Price to Earnings Ratio

-353.2x


Total Market Cap: SEK 494.4bTotal Earnings: -SEK 1,399,898,502.00Total Revenue: SEK 172.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -165x202420252026
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 2.3x.
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-4.12%
Healthcare-3.98%
Medical Equipment-2.32%
Healthtech-3.33%
Life Sciences-3.53%
Biotech-4.53%
Healthcare Services-4.73%
Pharma-5.86%
Industry PE
  • Investors are most optimistic about the Healthtech industry which is trading above its 3-year average PE ratio of 116x.
    • 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
XVIVO Xvivo PerfusionSEK 207.0010.2%
+SEK 604.8m		-37.5%PE259.1x
DMYD B Diamyd MedicalSEK 15.3813.1%
+SEK 302.6m		82.2%PS6225.2x
ENZY EnzymaticaSEK 2.5917.7%
+SEK 94.7m		-45.4%PS11.7x
HAMLET B Hamlet BioPharmaSEK 4.2014.3%
+SEK 93.3m		1.4%PS4191x
STIL StilleSEK 196.503.7%
+SEK 62.9m		-19.5%PE31.7x

Latest News

BONEX
SEK 178.90
Bonesupport Holding
7D
-5.8%
1Y
-44.5%

BONEX: Clinical Pilot Outcomes And 2025 Guidance Will Support Future Upside Potential

Analysts have kept their SEK price target for Bonesupport Holding unchanged at SEK 366.60, citing broadly consistent assumptions on discount rate, revenue growth, profit margin and future P/E. Together, these factors support a steady valuation view.
MCOV B
SEK 182.20
Medicover
7D
-7.7%
1Y
-11.1%

MCOV B: Dividend Policy And 2028 Revenue Ambition Will Drive Future Upside

Analysts have trimmed their Medicover price target from SEK 325 to SEK 307 as updates to fair value, discount rate, revenue growth, profit margin assumptions and expected future P/E filter through their models. What's in the News The board proposes a dividend of SEK 0.20 per share for the 2025 financial year, up from SEK 0.15, subject to approval at the annual general meeting on 29 April 2026 (Key Developments).
DMYD B
SEK 15.38
Diamyd Medical
7D
13.1%
1Y
82.2%
VIMIAN
SEK 25.50
Vimian Group
7D
-5.8%
1Y
-37.0%
SECT B
SEK 219.00
Sectra
7D
-3.4%
1Y
-13.6%

SECT B: Cloud Deals And Rating Upgrades Will Shape Balanced Return Profile

Sectra's analyst price target has been revised from SEK 220 to about SEK 228. Analysts have issued refreshed Buy ratings and higher targets in the SEK 210 to SEK 250 range that reflect updated views on growth, profitability and future P/E assumptions.
SOBI
SEK 362.20
Swedish Orphan Biovitrum
7D
-5.3%
1Y
25.1%

SOBI: Kidney And Sepsis Progress Will Support A More Constructive Outlook

Analyst price targets for Swedish Orphan Biovitrum have moved higher toward SEK 470 to SEK 500, as analysts highlight their updated views following recent rating changes and an upgraded stance from several firms. Analyst Commentary Recent research updates on Swedish Orphan Biovitrum show a mix of optimism around upside potential and some caution on how much of that is already reflected in the share price.
IVACC
SEK 0.86
Intervacc
7D
16.6%
1Y
-17.0%
FLUO
SEK 38.10
FluoGuide
7D
5.5%
1Y
-3.5%
CAMX
SEK 437.40
Camurus
7D
-7.1%
1Y
-30.2%

CAMX: 2026 Guidance And US FDA Review Will Drive Future Upside

Analysts have kept their SEK 930 price target for Camurus unchanged, citing only minor adjustments in their assumptions for revenue growth, profit margin and future P/E as the main reasons for maintaining this level. What's in the News Camurus issued earnings guidance for 2026, with expected revenues of SEK 2.6b to SEK 2.9b and an operating result of SEK 0.9b to SEK 1.2b (Corporate guidance).
VITR
SEK 87.45
Vitrolife
7D
-6.0%
1Y
-47.5%
GETI B
SEK 183.75
Getinge
7D
-3.1%
1Y
-18.0%

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).
XVIVO
SEK 207.00
Xvivo Perfusion
7D
10.2%
1Y
-37.5%

XVIVO: Higher Growth Assumptions Will Support Continued Bullish Repricing

Analysts now set their price target for Xvivo Perfusion at SEK301.0, compared with the prior SEK316.6, reflecting updated assumptions around slightly higher revenue growth, a lower profit margin, a higher discount rate, and a modestly higher future P/E multiple. Valuation Changes Fair Value: SEK316.6 has been revised to SEK301.0, a modest reduction in the estimated valuation level.
BRAIN
SEK 0.62
BrainCool
7D
14.8%
1Y
-66.4%
ENZY
SEK 2.59
Enzymatica
7D
17.7%
1Y
-45.4%
STIL
SEK 196.50
Stille
7D
3.7%
1Y
-19.5%

Stille AB Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

Feb 15
Stille AB Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year
HAMLET B
SEK 4.20
Hamlet BioPharma
7D
14.3%
1Y
1.4%