Today, we revisit a company that’s benefiting from a big tailwind in health care…
As longtime readers know, our colleague Dr. David “Doc” Eifrig is bullish on health care stocks. Millions of aging Baby Boomers are spending more money on the medicine and testing they need.
Abbott Laboratories (ABT) is one of the oldest pharmaceutical companies in the world.
It also runs business segments in diagnostics, medical devices, and nutrition.
The company’s Ensure Enlive nutritional drink – part of its well-known Ensure brand – is specifically intended for older adults.
Abbott’s nutritional products helped fuel second-quarter sales of $7.8 billion… up 17% from the same period last year.
And as you can see below, Abbott’s stock has climbed roughly 30% over the past year and recently hit a new 52-week high. As the largest generation of Americans faces more medical needs, health care companies like Abbott should continue to benefit…
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Source: Daily Wealth’s Market Notes