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U.K. (FTSE) Healthcare Sector Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies81
  • 7D5.7%
  • 3M11.9%
  • 1Y34.4%
  • YTD10.9%

Over the last 7 days, the Healthcare industry has risen 5.7%, driven by gains from AstraZeneca of 7.1%. This means that the industry has gained 34% over the past year. Earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

Has the U.K. Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026UK£385.0bUK£102.6bUK£16.2b20.6x23.8x3.8x
Tue, 03 Mar 2026UK£396.6bUK£101.2bUK£16.0b23.5x24.8x3.9x
Thu, 29 Jan 2026UK£346.4bUK£98.9bUK£14.8b25.2x23.4x3.5x
Sat, 27 Dec 2025UK£347.0bUK£100.1bUK£15.0b21.9x23.2x3.5x
Mon, 24 Nov 2025UK£350.0bUK£101.6bUK£15.2b23.8x23.1x3.4x
Wed, 22 Oct 2025UK£324.0bUK£98.7bUK£12.1b25.9x26.8x3.3x
Fri, 19 Sep 2025UK£299.7bUK£100.6bUK£12.0b28.8x24.9x3x
Sun, 17 Aug 2025UK£304.5bUK£100.5bUK£12.0b29.3x25.4x3x
Tue, 15 Jul 2025UK£286.8bUK£97.1bUK£10.8b30.2x26.5x3x
Thu, 12 Jun 2025UK£298.3bUK£96.9bUK£10.7b29.5x27.8x3.1x
Sat, 10 May 2025UK£281.4bUK£97.9bUK£10.8b30.2x25.9x2.9x
Mon, 07 Apr 2025UK£288.1bUK£98.7bUK£9.7b28.7x29.7x2.9x
Wed, 05 Mar 2025UK£317.6bUK£99.2bUK£9.7b29.6x32.8x3.2x
Fri, 31 Jan 2025UK£262.4bUK£86.4bUK£7.7b30.2x34.1x3x
Sun, 29 Dec 2024UK£246.0bUK£85.9bUK£7.6b31.3x32.2x2.9x
Tue, 26 Nov 2024UK£247.4bUK£86.0bUK£7.7b27.7x32.3x2.9x
Thu, 24 Oct 2024UK£274.1bUK£83.1bUK£8.9b25.6x30.6x3.3x
Sat, 21 Sep 2024UK£276.9bUK£81.6bUK£8.8b29.3x31.5x3.4x
Mon, 19 Aug 2024UK£299.6bUK£82.8bUK£9.0b33.9x33.5x3.6x
Wed, 17 Jul 2024UK£279.7bUK£80.8bUK£9.3b31.8x30.1x3.5x
Fri, 14 Jun 2024UK£289.5bUK£81.5bUK£9.4b31.2x30.8x3.6x
Sun, 12 May 2024UK£296.7bUK£82.4bUK£9.5b34.4x31.4x3.6x
Tue, 09 Apr 2024UK£263.2bUK£81.0bUK£9.6b32.6x27.4x3.3x
Thu, 07 Mar 2024UK£258.6bUK£80.5bUK£9.5b35.1x27.1x3.2x
Sat, 03 Feb 2024UK£272.1bUK£84.9bUK£9.5b38.7x28.6x3.2x
Mon, 01 Jan 2024UK£270.1bUK£83.8bUK£10.6b40.4x25.4x3.2x
Wed, 29 Nov 2023UK£255.9bUK£84.0bUK£10.7b39.6x24x3x
Fri, 27 Oct 2023UK£266.7bUK£86.3bUK£10.3b39.9x25.8x3.1x
Sun, 24 Sep 2023UK£282.1bUK£85.8bUK£10.3b40.3x27.3x3.3x
Tue, 22 Aug 2023UK£268.9bUK£83.9bUK£10.1b39.7x26.5x3.2x
Thu, 20 Jul 2023UK£267.7bUK£82.0bUK£7.8b46x34.2x3.3x
Sat, 17 Jun 2023UK£288.3bUK£82.3bUK£7.9b48.5x36.6x3.5x
Mon, 15 May 2023UK£296.4bUK£83.5bUK£8.0b49.3x37.1x3.5x
Wed, 12 Apr 2023UK£289.1bUK£84.3bUK£6.9b45.1x41.8x3.4x
Price to Earnings Ratio

41.8x


Total Market Cap: UK£289.1bTotal Earnings: UK£6.9bTotal Revenue: UK£84.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Healthcare Sector Price to Earnings3Y Average 28.8x202420252026
Current Industry PE
  • Investors are pessimistic on the British Healthcare 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 23.8x which is lower than its 3-year average PE of 28.8x.
  • The 3-year average PS ratio of 3.3x is lower than the industry's current PS ratio of 3.8x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 33% per year over the last three years.
  • Revenues for these companies have grown 6.8% 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 U.K. Healthcare sector?

GB Market4.54%
Healthcare5.69%
Pharma5.96%
Life Sciences5.08%
Biotech2.80%
Healthcare Services1.93%
Healthtech1.89%
Medical Equipment0.98%
Industry PE
  • Investors are most optimistic about the Biotech industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 10.9%, which is higher than its past year's earnings decline of 5.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Life Sciences industry, expecting annual earnings growth of 54% over the next 5 years.
  • This is better than its past earnings decline of 70% per year.
  • In contrast, the Pharma industry is expected to see its earnings grow by 10% 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
AZN AstraZenecaUK£153.167.1%
+UK£15.7b		41.7%PE30.7x
GSK GSKUK£21.444.6%
+UK£3.8b		51.3%PE15x
HLN HaleonUK£3.731.6%
+UK£496.1m		-2.8%PE20x
HCM HUTCHMED (China)UK£2.1911.2%
+UK£189.1m		-2.0%PE5.4x
SN. Smith & NephewUK£12.081.2%
+UK£172.5m		17.2%PE21.8x

Latest News

GNS
UK£25.40
Genus
7D
4.5%
1Y
45.0%

GNS: Gene Editing Progress And China JV Execution Will Shape Medium-Term Upside

Analysts have raised their price target for Genus by £1.00, citing updated assumptions on the discount rate, revenue growth, profit margin and future P/E as the key drivers behind the change. Analyst Commentary Bearish analysts view the higher price target and updated assumptions as leaving limited room for error.
GSK
UK£21.44
GSK
7D
4.6%
1Y
51.3%

GSK: Limited Pipeline Readouts Will Continue To Cap Future Multiple Repricing

GSK's analyst price target has moved higher by £100, with analysts pointing to slightly stronger long term revenue growth and profit margin assumptions, alongside modestly lower future P/E expectations. Analyst Commentary Recent research on GSK reflects a mix of higher price targets and ongoing caution around the company’s execution and growth profile.
EAH
UK£0.92
ECO Animal Health Group
7D
-6.1%
1Y
75.2%
AGY
UK£0.10
Allergy Therapeutics
7D
-1.0%
1Y
59.7%
HIK
UK£13.08
Hikma Pharmaceuticals
7D
5.2%
1Y
-30.3%

HIK: Buyback Plan And Leadership Changes Will Support Future Re Rating

Hikma Pharmaceuticals' updated fair value estimate has edged down slightly to £19.02 per share from £19.06. This reflects a series of reduced analyst price targets between £1,600 and £2,000, along with their increased focus on management uncertainty, strategic direction, and a more conservative P/E outlook.
AZN
UK£153.16
AstraZeneca
7D
7.1%
1Y
41.7%
SN.
UK£12.08
Smith & Nephew
7D
1.2%
1Y
17.2%

SN.: New Product Launches And Capital Returns Will Support Future Margins

Analysts have nudged their price target for Smith & Nephew slightly higher to £14.30 from £14.30, reflecting small adjustments to their fair value estimate, discount rate, revenue growth assumptions, profit margin expectations, and a modestly lower future P/E multiple. What's in the News Launch of ALLEVYN COMPLETE CARE Foam Dressing with a five layer design aimed at both wound management and pressure injury prevention, initially in the US with further international launches planned for 2026 (Product related announcement).
AVCT
UK£0.64
Avacta Group
7D
-2.6%
1Y
92.4%
HCM
UK£2.19
HUTCHMED (China)
7D
11.2%
1Y
-2.0%

HCM: Advancing Late Stage Oncology Pipeline Will Drive Future Reassessment

Analysts have nudged their fair value estimate for HUTCHMED (China) higher to £5.62 from £5.34, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E that have slightly adjusted their overall outlook. What's in the News Initiated a registrational Phase III trial of BTK inhibitor HMPL-760 with R-GemOx in relapsed or refractory diffuse large B-cell lymphoma in China, targeting about 240 patients and using progression free survival and overall survival as primary outcomes (Product-Related Announcement).
ONT
UK£1.20
Oxford Nanopore Technologies
7D
5.5%
1Y
14.7%

We Think Oxford Nanopore Technologies (LON:ONT) Can Afford To Drive Business Growth

Mar 31
We Think Oxford Nanopore Technologies (LON:ONT) Can Afford To Drive Business Growth
NIOX
UK£0.55
NIOX Group
7D
-4.8%
1Y
-23.3%
4BB
UK£4.84
4basebio
7D
-5.1%
1Y
-59.0%
HLN
UK£3.73
Haleon
7D
1.6%
1Y
-2.8%

HLN: Execution And Cash Returns Will Support Future Re Rating Potential

Haleon's analyst price target has been nudged up from £5.10 to £5.12, reflecting analysts' updated assumptions for slightly higher revenue growth and profit margins, together with recent target increases and rating changes across several research houses. Analyst Commentary Recent Street research on Haleon has been active, with several bullish analysts adjusting their targets and ratings while one major European house turned more cautious.
CREO
UK£0.11
Creo Medical Group
7D
-8.4%
1Y
-9.4%

CREO: Steady Fair Value And Higher Revenue Assumptions Will Support Long Term Upside

Analysts have made a modest upward adjustment to their price target for Creo Medical Group, reflecting fine tuned assumptions around the discount rate, revenue growth and future P/E. Their view of the company’s fair value remains broadly unchanged.
SCLP
UK£0.11
Scancell Holdings
7D
-2.2%
1Y
38.0%
0KF3
US$18.98
Palatin Technologies
7D
-7.4%
1Y
-27.9%