19 Stocks in Jim Cramer’s Game Plan For This Week

11. Abbott Laboratories (NYSE:ABT)

Number of Hedge Fund Holders: 69

Abbott Laboratories (NYSE:ABT) is one of the stocks in Jim Cramer’s game plan for this week. Cramer called the stock “terrific,” as he said:

“We also get results from one of the most reliable healthcare companies, Abbott Labs. We’ve owned Abbott for the trust for almost ever, and I think it’s just terrific.”

Abbott Laboratories (NYSE:ABT) develops, manufactures, and sells healthcare products, including pharmaceuticals, diagnostics, nutritionals, and medical devices. Cramer discussed the company post-earnings during the July 17 episode and commented:

“Today, in an otherwise positive market, I was discouraged to get a mixed update from Abbott Labs, medical technology company that we’ve long owned for the Charitable Trust… I’d say two decades. When Abbott Labs reported this morning, the… results were perfectly solid. Management tightened their full-year earnings guidance rather than raising it while also taking down their organic sales growth forecast and their operating margin outlook.

A lot of investors, including me, have been hoping they’d raise these numbers, so the stock got clobbered down more than $11 or 8.5%. I thought it might’ve been down $15. That’s what I predicted. It didn’t get that low. As I’ve chronicled many times, this is a stock where we’ve really had to battle over the past several quarters. We’ve kept our faith for the Charitable Trust during some nasty litigation last year. The stock bounced back from that.”