Abbott Stock Hits 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 $62.66, above its previous 52-week high of $62.57 with 1.8 million shares traded as of 10:55 a.m. ET. Average volume has been 7.1 million shares over the past 30 days.

Abbott has a market cap of $97.58 billion and is part of the health care sector and drugs industry. Shares are up 10.7% 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 19.8, above the average drugs industry P/E ratio of 19.2 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 revenue growth, growth in earnings per share, increase in net income, solid stock price performance and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Abbott Ratings Report.

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