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Swedish (OMX) Healthcare Sector Analysis

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies153
  • 7D-0.6%
  • 3M-7.8%
  • 1Y-7.9%
  • YTD-2.7%

The Healthcare is pretty flat in the last 7 days, but Bonesupport Holding has stood out, gaining 11%. Unfortunately though, the industry is down 7.9% over the past 12 months. Looking forward, earnings are forecast to grow by 24% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Mar 2026SEK 567.3bSEK 229.0b-SEK 2,338,686,563.1433.4x-242.6x2.5x
Tue, 27 Jan 2026SEK 602.0bSEK 257.7bSEK 4.9b38.8x123.9x2.3x
Thu, 25 Dec 2025SEK 583.9bSEK 230.5bSEK 3.6b43.6x160.1x2.5x
Sat, 22 Nov 2025SEK 583.3bSEK 230.8bSEK 3.3b44.2x178.8x2.5x
Mon, 20 Oct 2025SEK 601.1bSEK 227.1bSEK 6.7b42.6x89.8x2.6x
Wed, 17 Sep 2025SEK 607.6bSEK 227.1bSEK 6.6b44.7x92.1x2.7x
Fri, 15 Aug 2025SEK 609.0bSEK 226.8bSEK 6.6b46.4x92.3x2.7x
Sun, 13 Jul 2025SEK 630.8bSEK 226.6bSEK 6.0b44.8x104.7x2.8x
Tue, 10 Jun 2025SEK 632.9bSEK 226.4bSEK 5.8b43.6x108.8x2.8x
Thu, 08 May 2025SEK 590.0bSEK 224.0bSEK 4.8b37.8x121.7x2.6x
Sat, 05 Apr 2025SEK 537.6bSEK 221.5bSEK 5.4b32.5x99.5x2.4x
Mon, 03 Mar 2025SEK 588.0bSEK 206.6bSEK 4.3b35.8x135.6x2.8x
Wed, 29 Jan 2025SEK 584.0bSEK 202.6b-SEK 2,675,858,022.8940.8x-218.3x2.9x
Fri, 27 Dec 2024SEK 577.8bSEK 202.8b-SEK 2,503,902,169.1638.4x-230.7x2.8x
Sun, 24 Nov 2024SEK 506.5bSEK 199.8b-SEK 2,653,445,983.7436.2x-190.9x2.5x
Tue, 22 Oct 2024SEK 596.7bSEK 198.9b-SEK 3,206,372,252.8841.7x-186.1x3x
Thu, 19 Sep 2024SEK 616.7bSEK 200.1b-SEK 2,795,442,136.9440.9x-220.6x3.1x
Sat, 17 Aug 2024SEK 599.0bSEK 199.9b-SEK 2,540,884,670.9841x-235.8x3x
Mon, 15 Jul 2024SEK 585.4bSEK 196.2b-SEK 3,104,678,694.3238.3x-188.5x3x
Wed, 12 Jun 2024SEK 557.0bSEK 195.5b-SEK 3,081,091,991.8535.6x-180.8x2.8x
Fri, 10 May 2024SEK 545.0bSEK 196.8b-SEK 2,715,029,099.5135.5x-200.7x2.8x
Sun, 07 Apr 2024SEK 523.8bSEK 192.8b-SEK 3,173,203,050.4345.6x-165.1x2.7x
Tue, 05 Mar 2024SEK 508.0bSEK 192.2b-SEK 3,659,835,641.3244.4x-138.8x2.6x
Thu, 01 Feb 2024SEK 656.1bSEK 191.7b-SEK 795,100,988.0048.4x-825.1x3.4x
Sat, 30 Dec 2023SEK 542.0bSEK 191.2b-SEK 963,322,468.0048.2x-562.6x2.8x
Mon, 27 Nov 2023SEK 501.3bSEK 190.1b-SEK 1,201,055,298.0050.2x-417.4x2.6x
Wed, 25 Oct 2023SEK 424.7bSEK 186.5b-SEK 1,835,419,558.0034.7x-231.4x2.3x
Fri, 22 Sep 2023SEK 459.7bSEK 185.7b-SEK 2,030,087,413.0036.5x-226.4x2.5x
Sun, 20 Aug 2023SEK 457.5bSEK 185.0b-SEK 1,091,744,910.0037.5x-419.1x2.5x
Tue, 18 Jul 2023SEK 462.9bSEK 179.9b-SEK 1,545,729,692.0044.7x-299.5x2.6x
Thu, 15 Jun 2023SEK 523.3bSEK 178.9b-SEK 772,164,165.0045.9x-677.6x2.9x
Sat, 13 May 2023SEK 518.0bSEK 177.0b-SEK 880,129,490.0042.2x-588.5x2.9x
Mon, 10 Apr 2023SEK 504.0bSEK 172.7b-SEK 1,424,880,805.0035.7x-353.7x2.9x
Wed, 08 Mar 2023SEK 491.6bSEK 172.1b-SEK 1,162,332,437.0038.7x-423x2.9x
Price to Earnings Ratio

-423x


Total Market Cap: SEK 491.6bTotal Earnings: -SEK 1,162,332,437.00Total Revenue: SEK 172.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Healthcare Sector Price to Earnings3Y Average -168.6x202420252026
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
  • The earnings for companies in the Healthcare industry have deteriorated over the last three years.
  • Meanwhile revenues for these companies have grown 10.0% 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 Market1.16%
Healthcare-0.57%
Life Sciences4.96%
Healthtech2.99%
Healthcare Services1.54%
Medical Equipment-0.17%
Biotech-2.39%
Pharma-3.51%
Industry PE
  • Investors are most optimistic about the Healthtech industry, which is trading close to its 3-year average PE ratio of 115x.
    • Analysts are expecting annual earnings growth of 16.5%, 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 34% 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 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
BONEX Bonesupport HoldingSEK 202.4010.5%
+SEK 1.5b		-47.5%PE95.1x
ALIF B AddLifeSEK 154.207.2%
+SEK 1.3b		-5.7%PE33.6x
SECT B SectraSEK 193.803.1%
+SEK 1.1b		-18.0%PE57.8x
EKTA B ElektaSEK 58.053.3%
+SEK 706.9m		-1.7%PE76x
VITR VitrolifeSEK 95.405.2%
+SEK 643.3m		-51.6%PS3.8x

Latest News

SANION
SEK 18.62
Saniona
7D
-25.2%
1Y
169.5%
BONEX
SEK 202.40
Bonesupport Holding
7D
10.5%
1Y
-47.5%
BINV
SEK 23.25
BioInvent International
7D
-14.4%
1Y
-16.4%
SOBI
SEK 395.40
Swedish Orphan Biovitrum
7D
-1.7%
1Y
25.3%
AMBEA
SEK 130.00
Ambea
7D
4.4%
1Y
17.0%

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).
VITR
SEK 95.40
Vitrolife
7D
5.2%
1Y
-51.6%

VITR: Genetic Services Restructuring And Impairment Will Support Future Upside Potential

Analysts have left their SEK 176.75 price target for Vitrolife unchanged, with only minimal tweaks to inputs such as discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News Vitrolife plans to record a goodwill impairment of SEK 5.4b in the fourth quarter of 2025, linked to the Igenomix acquisition (company announcement).
IMP A SDB
SEK 46.00
Implantica
7D
-2.1%
1Y
29.9%
EKTA B
SEK 58.05
Elekta
7D
3.3%
1Y
-1.7%
GETI B
SEK 202.90
Getinge
7D
-0.3%
1Y
-4.7%

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 308.80
BioArctic
7D
-11.6%
1Y
26.2%
DMYD B
SEK 14.84
Diamyd Medical
7D
-9.5%
1Y
48.4%
ATT
SEK 104.20
Attendo
7D
3.8%
1Y
66.7%

ATT: Future Cash Returns And Dividend Policy Will Support Measured Prospects

Analysts have kept their SEK 110.0 price target for Attendo unchanged, citing only minor tweaks to the discount rate, long-term revenue growth, profit margin assumptions, and a slightly higher future P/E multiple in their models. What's in the News An undisclosed buyer acquired an unknown minority stake in Attendo AB (publ) from Nordstjernan AB on February 23, 2026.
CAMX
SEK 503.00
Camurus
7D
-5.5%
1Y
-24.4%
SECT B
SEK 193.80
Sectra
7D
3.1%
1Y
-18.0%

SECT B: Expanding Cloud Imaging Footprint Will Drive Future Upside Potential

Analysts have maintained their SEK 245.0 price target for Sectra with only minor adjustments to assumptions, including a slightly higher discount rate and a marginally different future P/E. This reflects a largely steady view of the company’s valuation drivers.
BIOG B
SEK 111.70
BioGaia
7D
4.0%
1Y
-10.3%

BIOG B: Dividend Reset And Solid Margins Will Support Higher Future Earnings Multiple

Analysts have kept their SEK 140.0 price target for BioGaia broadly unchanged, citing slightly higher assumed discount rates and a modestly lower profit margin outlook. These factors are largely offset by stable long term growth and P/E expectations.
ALIF B
SEK 154.20
AddLife
7D
7.2%
1Y
-5.7%

Investors Shouldn't Be Too Comfortable With AddLife's (STO:ALIF B) Earnings

Feb 12
Investors Shouldn't Be Too Comfortable With AddLife's (STO:ALIF B) Earnings