Abbott Stock Hits New 52-Week High (ABT)

NEW YORK (TheStreet) -- Abbott Laboratories (NYSE:ABT) hit a new 52-week high Tuesday as it is currently trading at $66.81, above its previous 52-week high of $66.80 with two million shares traded as of 11:15 a.m. ET. Average volume has been 7.1 million shares over the past 30 days.

Abbott has a market cap of $104.46 billion and is part of the health care sector and drugs industry. Shares are up 18.4% year to date as of the close of trading on Monday.

Abbott Laboratories engages in the discovery, development, manufacture, and sale of health care products worldwide. The company has a P/E ratio of 21.6, equal to the average drugs industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Abbott as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Abbott Ratings Report.

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