Abbott Reaches New 52-Week High (ABT)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

NEW YORK ( TheStreet) -- Abbott Laboratories (NYSE: ABT) hit a new 52-week high Wednesday as it is currently trading at $69.42, above its previous 52-week high of $69.27 with 3.5 million shares traded as of 1:45 p.m. ET. Average volume has been 5.9 million shares over the past 30 days.

Abbott has a market cap of $108.47 billion and is part of the health care sector and drugs industry. Shares are up 22.6% 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 22.5, above the average drugs industry P/E ratio of 22.4 and above 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, expanding profit margins and notable return on equity. 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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