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Swedish (OMX) Medical Equipment Industry Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies51
  • 7D-2.2%
  • 3M-6.6%
  • 1Y-19.6%
  • YTD-9.0%

Over the last 7 days, the Medical Equipment industry has dropped 2.2%, driven by a pullback from Getinge of 3.5%. On the other hand Elekta is actually up 6.8%. However, the industry is down 20% over the past year. Looking forward, earnings are forecast to grow by 23% annually.

Industry Valuation and Performance

Has the Swedish Medical Equipment Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Mar 2026SEK 132.2bSEK 74.5bSEK 1.7b24.5x78.2x1.8x
Wed, 04 Feb 2026SEK 135.9bSEK 76.4bSEK 2.0b36.5x67.4x1.8x
Fri, 02 Jan 2026SEK 178.5bSEK 94.0bSEK 2.5b44.2x72.7x1.9x
Sun, 30 Nov 2025SEK 180.8bSEK 94.0bSEK 2.4b42x74.3x1.9x
Tue, 28 Oct 2025SEK 182.8bSEK 93.7bSEK 2.3b48.9x80.6x2x
Thu, 25 Sep 2025SEK 182.4bSEK 93.3bSEK 1.4b48.6x130.7x2x
Sat, 23 Aug 2025SEK 195.2bSEK 93.5bSEK 1.4b51.5x141x2.1x
Mon, 21 Jul 2025SEK 194.3bSEK 93.2bSEK 1.4b48.4x138.4x2.1x
Wed, 18 Jun 2025SEK 187.5bSEK 93.3bSEK 1.5b36.9x127.1x2x
Fri, 16 May 2025SEK 188.1bSEK 93.3bSEK 2.3b33.9x83.4x2x
Sun, 13 Apr 2025SEK 165.7bSEK 91.5bSEK 2.9b27.6x57.9x1.8x
Tue, 11 Mar 2025SEK 159.1bSEK 76.5bSEK 2.5b28.2x63.9x2.1x
Thu, 06 Feb 2025SEK 171.1bSEK 76.0bSEK 1.8b35.3x96.3x2.3x
Sat, 04 Jan 2025SEK 157.1bSEK 74.7bSEK 1.8b29.2x86x2.1x
Mon, 02 Dec 2024SEK 156.9bSEK 74.7bSEK 1.9b27.5x84.3x2.1x
Wed, 30 Oct 2024SEK 166.9bSEK 75.1bSEK 1.9b32.6x85.6x2.2x
Fri, 27 Sep 2024SEK 182.2bSEK 74.5bSEK 3.1b24.1x58.5x2.4x
Sun, 25 Aug 2024SEK 178.6bSEK 74.5bSEK 3.3b30.3x54.1x2.4x
Tue, 23 Jul 2024SEK 169.5bSEK 74.5bSEK 3.1b28.8x55.6x2.3x
Thu, 20 Jun 2024SEK 154.7bSEK 72.8bSEK 2.6b29x58.9x2.1x
Sat, 18 May 2024SEK 164.9bSEK 73.0bSEK 2.8b27.8x59.8x2.3x
Mon, 15 Apr 2024SEK 167.2bSEK 72.3bSEK 2.6b32.9x65.2x2.3x
Wed, 13 Mar 2024SEK 163.2bSEK 72.2bSEK 2.4b30.7x67.1x2.3x
Fri, 09 Feb 2024SEK 159.7bSEK 71.7bSEK 2.2b47.5x71x2.2x
Sun, 07 Jan 2024SEK 173.9bSEK 71.4bSEK 1.5b40.9x113.6x2.4x
Tue, 05 Dec 2023SEK 165.8bSEK 70.6bSEK 1.5b36.1x112.2x2.3x
Thu, 02 Nov 2023SEK 145.6bSEK 69.9bSEK 1.2b28.2x118.4x2.1x
Sat, 30 Sep 2023SEK 148.4bSEK 68.7bSEK 1.1b30.7x137.4x2.2x
Mon, 28 Aug 2023SEK 151.9bSEK 68.8bSEK 1.1b29.1x141.2x2.2x
Wed, 26 Jul 2023SEK 163.8bSEK 67.9bSEK 952.4m34.5x172x2.4x
Fri, 23 Jun 2023SEK 158.0bSEK 67.0bSEK 1.3b32.7x117.9x2.4x
Sun, 21 May 2023SEK 185.2bSEK 65.9bSEK 1.4b37.5x134.6x2.8x
Tue, 18 Apr 2023SEK 176.9bSEK 64.0bSEK 1.4b35.4x129.6x2.8x
Thu, 16 Mar 2023SEK 164.3bSEK 64.0bSEK 1.4b36.5x114.6x2.6x
Price to Earnings Ratio

114.6x


Total Market Cap: SEK 164.3bTotal Earnings: SEK 1.4bTotal Revenue: SEK 64.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Medical Equipment Industry Price to Earnings3Y Average 97.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Swedish Medical Equipment industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 78.2x which is lower than its 3-year average PE of 97.6x.
  • The 3-year average PS ratio of 2.2x is higher than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 5.6% per year over the last three years.
  • Revenues for these companies have grown 5.2% 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 industry?

SE Market-5.13%
Healthcare-2.21%
Medical Equipment-2.22%
Medical Equipment-1.72%
Medical Supplies-4.83%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry, which is trading close to its 3-year average PE ratio of 79.3x.
    • Analysts are expecting annual earnings growth of 19.7%, which is higher than its past year's earnings decline of 38.6% per year.
  • Investors are most pessimistic about the Medical Supplies industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 40% over the next 5 years.
  • This is better than its past earnings decline of 8.1% per year.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 20% 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
EKTA B ElektaSEK 62.008.5%
+SEK 1.9b		6.7%PS1.4x
CEVI CellaVisionSEK 152.603.7%
+SEK 128.8m		-8.2%PE24x
SEDANA Sedana MedicalSEK 9.247.8%
+SEK 66.6m		-44.8%PS4.6x
XVIVO Xvivo PerfusionSEK 182.101.2%
+SEK 66.1m		-53.7%PE228x
SUS Surgical Science SwedenSEK 32.042.4%
+SEK 37.8m		-77.0%PE24.5x

Latest News

EKTA B
SEK 62.00
Elekta
7D
8.5%
1Y
6.7%
ARJO B
SEK 26.20
Arjo
7D
-1.6%
1Y
-31.1%

ARJO B: Future Returns Will Rely On Stable Margins And Required Yield

Analysts have kept their SEK 28.0 price target for Arjo unchanged, citing slightly updated assumptions for the discount rate, revenue growth, profit margin and future P/E as the basis for maintaining this level. Valuation Changes Fair Value: SEK 28 held steady, with the target level unchanged at SEK 28.0. Discount Rate: has risen slightly from 7.42% to 7.51%.
EPIS B
SEK 0.05
Episurf Medical
7D
26.9%
1Y
-60.7%
ORT B
SEK 8.46
Ortoma
7D
-29.2%
1Y
-11.1%
VIMIAN
SEK 25.20
Vimian Group
7D
-2.5%
1Y
-33.7%

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.
OSSD
SEK 5.50
OssDsign
7D
-11.3%
1Y
-52.2%

OSSD: New US Leadership Will Support Long Term Margin Expansion

Analysts have kept their OssDsign price target steady at SEK 12.75, citing largely unchanged assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E as the basis for maintaining their view. What's in the News OssDsign AB appointed Mark Waugh as CEO, effective January 1, 2026, following his senior roles at Smith & Nephew plc, Medtronic Sofamor Danek Inc, and Medacta USA (Key Developments).
PAX
SEK 49.90
Paxman
7D
-5.5%
1Y
-22.8%
SUS
SEK 32.04
Surgical Science Sweden
7D
2.4%
1Y
-77.0%

SUS: Future Returns Will Reflect Organic Guidance And Acquisition Optionality

Analysts have raised their price target on Surgical Science Sweden from SEK 33 to SEK 40, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E, which they view as better reflecting the company’s current risk and earnings profile. What's in the News Surgical Science Sweden AB provided revenue guidance for 2027, stating that sales growth is expected to amount to 10 to 15% per year for the period (Corporate Guidance).
IMP A SDB
SEK 42.50
Implantica
7D
-4.9%
1Y
25.9%
GETI B
SEK 195.80
Getinge
7D
-1.2%
1Y
-8.9%

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.
SEDANA
SEK 9.24
Sedana Medical
7D
7.8%
1Y
-44.8%
XVIVO
SEK 182.10
Xvivo Perfusion
7D
1.2%
1Y
-53.7%

XVIVO: Higher Margins And Revenue Assumptions Will Support Future Upside Potential

Analysts now estimate Xvivo Perfusion's fair value at SEK245 per share, up from SEK215. This reflects updated assumptions for revenue growth, profit margins and a lower future P/E multiple in their models.
BIOWKS
SEK 3.17
Bio-Works Technologies
7D
11.2%
1Y
111.3%
NANEXA
SEK 3.95
Nanexa
7D
3.5%
1Y
227.4%
STIL
SEK 182.00
Stille
7D
-1.9%
1Y
-23.5%

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
CEVI
SEK 152.60
CellaVision
7D
3.7%
1Y
-8.2%