Abbott Reaches New 52-Week High (ABT)

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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TheStreet Ratings rates Abbott as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Abbott Ratings Report.

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