Abbott Reaches New 52-Week High (ABT)

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.

TheStreet Ratings rates Abbott as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Abbott Ratings Report.

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