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NEW YORK ( TheStreet) -- Abbott Laboratories (NYSE: ABT) hit a new 52-week high Friday as it is currently trading at $59.48, above its previous 52-week high of $59.38 with 6.4 million shares traded as of 2:10 p.m. ET. Average volume has been 6.4 million shares over the past 30 days. Abbott has a market cap of $87.21 billion and is part of the health care sector and drugs industry. Shares are up 5.1% year to date as of the close of trading on Thursday. Abbott Laboratories engages in the discovery, development, manufacture, and sale of health care products worldwide. The company has a P/E ratio of 19.6, above the average drugs industry P/E ratio of 19.4 and above the S&P 500 P/E ratio of 17.7.