NEW YORK ( TheStreet) -- Abbott Laboratories (NYSE: ABT) hit a new 52-week high Wednesday as it is currently trading at $54.93, above its previous 52-week high of $54.24 with 14.9 million shares traded as of 10:05 a.m. ET. Average volume has been 9.6 million shares over the past 30 days. Abbott has a market cap of $81 billion and is part of the health care sector and drugs industry. Shares are up 9.5% year to date as of the close of trading on Tuesday. Abbott Laboratories engages in the discovery, development, manufacture, and sale of health care products worldwide. The company has a P/E ratio of 16.1, above the average drugs industry P/E ratio of 15.9 and below the S&P 500 P/E ratio of 17.7.
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