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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 Thursday as it is currently trading at $70.42, above its previous 52-week high of $70.41 with 758,857 shares traded as of 9:55 a.m. ET. Average volume has been 5.6 million shares over the past 30 days. Abbott has a market cap of $107.56 billion and is part of the health care sector and drugs industry. Shares are up 24.2% year to date as of the close of trading on Wednesday. Abbott Laboratories engages in the discovery, development, manufacture, and sale of health care products worldwide. The company has a P/E ratio of 22.3, equal to the average drugs industry P/E ratio and above the S&P 500 P/E ratio of 17.7.