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Swedish (OMX) Healthcare Sector Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies153
  • 7D-2.2%
  • 3M-7.8%
  • 1Y-5.1%
  • YTD-4.8%

Over the last 7 days, the Healthcare industry has dropped 2.2%, driven by a pullback from Swedish Orphan Biovitrum of 4.8%. Meanwhile, Sectra actually outperformed within the industry, gaining 9.4% in the last week. The industry has fallen 5.1% in the last year. As for the next few years, earnings are expected to grow by 25% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Mar 2026SEK 555.2bSEK 228.5b-SEK 2,844,931,199.3229.5x-195.2x2.4x
Mon, 02 Feb 2026SEK 582.1bSEK 228.9bSEK 3.3b37.5x176.5x2.5x
Wed, 31 Dec 2025SEK 588.5bSEK 230.5bSEK 3.7b42.2x160.1x2.6x
Fri, 28 Nov 2025SEK 607.7bSEK 230.5bSEK 3.3b43.1x186.1x2.6x
Sun, 26 Oct 2025SEK 614.4bSEK 228.3bSEK 3.1b48.6x200.7x2.7x
Tue, 23 Sep 2025SEK 613.4bSEK 227.3bSEK 6.6b45x92.9x2.7x
Thu, 21 Aug 2025SEK 619.9bSEK 227.3bSEK 6.5b43.6x95.3x2.7x
Sat, 19 Jul 2025SEK 630.5bSEK 227.7bSEK 6.6b46.7x96.2x2.8x
Mon, 16 Jun 2025SEK 603.9bSEK 226.4bSEK 5.8b40.1x103.6x2.7x
Wed, 14 May 2025SEK 603.4bSEK 224.0bSEK 5.2b35.2x115.4x2.7x
Fri, 11 Apr 2025SEK 526.2bSEK 221.5bSEK 5.4b32.1x96.8x2.4x
Sun, 09 Mar 2025SEK 557.2bSEK 206.0bSEK 4.7b36x118.7x2.7x
Tue, 04 Feb 2025SEK 602.2bSEK 204.1bSEK 1.5b42.2x394.2x3x
Thu, 02 Jan 2025SEK 581.6bSEK 202.6b-SEK 2,502,940,770.9839x-232.4x2.9x
Sat, 30 Nov 2024SEK 516.8bSEK 199.4b-SEK 2,897,471,761.9137.7x-178.4x2.6x
Mon, 28 Oct 2024SEK 542.5bSEK 198.7b-SEK 2,774,960,882.9738.2x-195.5x2.7x
Wed, 25 Sep 2024SEK 607.6bSEK 200.0b-SEK 2,815,748,775.9239x-215.8x3x
Fri, 23 Aug 2024SEK 601.2bSEK 199.9b-SEK 1,808,985,021.1637.2x-332.3x3x
Sun, 21 Jul 2024SEK 590.0bSEK 198.0b-SEK 2,809,387,911.6143.5x-210x3x
Tue, 18 Jun 2024SEK 553.4bSEK 195.5b-SEK 3,170,326,439.0434.8x-174.6x2.8x
Thu, 16 May 2024SEK 556.0bSEK 196.6b-SEK 2,670,437,737.8036.6x-208.2x2.8x
Sat, 13 Apr 2024SEK 520.1bSEK 192.9b-SEK 3,176,124,900.5445.5x-163.8x2.7x
Mon, 11 Mar 2024SEK 525.5bSEK 192.1b-SEK 3,679,319,655.6243.5x-142.8x2.7x
Wed, 07 Feb 2024SEK 523.5bSEK 188.7b-SEK 4,138,756,471.1248.6x-126.5x2.8x
Fri, 05 Jan 2024SEK 542.0bSEK 191.3b-SEK 964,913,980.0046.7x-561.7x2.8x
Sun, 03 Dec 2023SEK 502.0bSEK 190.4b-SEK 1,085,234,395.0052.1x-462.6x2.6x
Tue, 31 Oct 2023SEK 438.0bSEK 189.5b-SEK 1,869,132,201.0038x-234.3x2.3x
Thu, 28 Sep 2023SEK 443.7bSEK 185.1b-SEK 2,035,016,507.0034.9x-218x2.4x
Sat, 26 Aug 2023SEK 461.1bSEK 185.7b-SEK 1,545,846,851.0038.8x-298.3x2.5x
Mon, 24 Jul 2023SEK 478.1bSEK 182.8b-SEK 1,004,494,296.0041.5x-476x2.6x
Wed, 21 Jun 2023SEK 487.8bSEK 179.3b-SEK 780,034,085.0045.3x-625.4x2.7x
Fri, 19 May 2023SEK 518.4bSEK 177.3b-SEK 830,834,048.0042.5x-624x2.9x
Sun, 16 Apr 2023SEK 513.9bSEK 172.6b-SEK 1,429,319,376.0035.8x-359.5x3x
Tue, 14 Mar 2023SEK 480.0bSEK 172.6b-SEK 1,408,630,950.0035.5x-340.8x2.8x
Price to Earnings Ratio

-340.8x


Total Market Cap: SEK 480.0bTotal Earnings: -SEK 1,408,630,950.00Total Revenue: SEK 172.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -167.6x202420252026
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 9.8% 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-5.13%
Healthcare-2.21%
Healthtech7.67%
Healthcare Services-0.94%
Medical Equipment-2.22%
Pharma-3.70%
Biotech-4.12%
Life Sciences-4.92%
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 22.4%, which is lower than the prior year's growth of 40.0% 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 212.009.4%
+SEK 3.5b		-7.9%PE63.2x
EKTA B ElektaSEK 62.006.8%
+SEK 1.5b		7.2%PS1.4x
ASKER Asker Healthcare GroupSEK 65.501.8%
+SEK 436.7m		n/aPE54.4x
EGTX Egetis TherapeuticsSEK 5.1612.4%
+SEK 225.2m		22.6%PS32.7x
AMBEA AmbeaSEK 132.001.5%
+SEK 164.2m		24.4%PE16.3x

Latest News

EKTA B
SEK 62.00
Elekta
7D
6.8%
1Y
7.2%
SECT B
SEK 212.00
Sectra
7D
9.4%
1Y
-7.9%
VIMIAN
SEK 25.20
Vimian Group
7D
-5.2%
1Y
-34.1%

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 142.90
AddLife
7D
-7.3%
1Y
-8.3%
CAMX
SEK 480.80
Camurus
7D
-4.4%
1Y
-21.2%

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).
EGTX
SEK 5.16
Egetis Therapeutics
7D
12.4%
1Y
22.6%
SOBI
SEK 376.60
Swedish Orphan Biovitrum
7D
-4.8%
1Y
27.9%
AMBEA
SEK 132.00
Ambea
7D
1.5%
1Y
24.4%

AMBEA: Acquisition Pipeline And Higher Dividend Will Support Future Expansion

Analysts have trimmed their price target on Ambea to SEK158 from about SEK162, reflecting updated views on fair value, a slightly higher discount rate and more cautious assumptions around revenue growth and profit margins, while keeping a broadly similar future P/E outlook. What's in the News Ambea is actively looking for acquisitions across its markets, with management highlighting a focus on quality targets with solid operational performance and an active pipeline in all countries and business areas except Klara (Key Developments).
IMP A SDB
SEK 42.50
Implantica
7D
-7.6%
1Y
22.1%
GETI B
SEK 195.80
Getinge
7D
-3.5%
1Y
-9.5%

GETI B: Modest Dividend Uplift Will Not Offset Rich P/E Multiple

Narrative update on Getinge Analysts have slightly adjusted their view on Getinge, with the updated price target now set at SEK 170.97. This reflects modest tweaks to assumptions around discount rate, revenue growth, profit margin and future P/E.
BIOA B
SEK 298.80
BioArctic
7D
-3.2%
1Y
34.1%
ASKER
SEK 65.50
Asker Healthcare Group
7D
1.8%
1Y
n/a
MCOV B
SEK 208.50
Medicover
7D
-4.1%
1Y
-1.2%

MCOV B: Higher Margin Outlook And Dividend Plans Will Support Future Upside

Analysts have nudged their Medicover price target higher to SEK257.29 from SEK252.68, citing updated assumptions that pair slightly lower revenue growth expectations with a modestly stronger profit margin and a revised future P/E of 24.46x. What's in the News Board proposes a dividend of €0.20 per share for the 2025 financial year, compared with €0.15 previously, subject to approval at the annual general meeting on 29 April 2026 (Key Developments).
RAY B
SEK 195.80
RaySearch Laboratories
7D
2.2%
1Y
-16.7%

RAY B: Expanding Adaptive Therapy Footprint And Dividend Will Support Stronger Outlook

Analysts have maintained their SEK330.00 price target for RaySearch Laboratories, citing slightly adjusted assumptions. These include a lower discount rate, more cautious revenue growth expectations, a higher profit margin outlook and a modestly reduced future P/E multiple as the key factors behind the unchanged view.
HUM
SEK 46.80
Humana
7D
2.6%
1Y
-1.0%

HUM: New Sollentuna Care Facility And Buybacks Will Support Future Upside

Analysts now hold a SEK 60 price target for Humana, unchanged from the prior SEK 60. This reflects updated assumptions around discount rate, revenue growth, profit margin and future P/E that collectively support a steady view of the company’s valuation.
HAMLET B
SEK 4.20
Hamlet BioPharma
7D
14.3%
1Y
1.4%