5 Best Diabetes Stocks to Buy Now

4. Abbott Laboratories (NYSE:ABT)

Hedge Fund Holdings: 69 

Headquartered in Abbott Park, Illinois, Abbott Laboratories (NYSE:ABT) is an American multinational medical devices and healthcare company which focuses on the development and sale of medical devices, diagnostics, branded generic medicines, and nutritional products. On October 30, UBS raised the price target on Abbott Laboratories (NYSE:ABT) to $122 from $118, and maintained a Buy rating on the shares. According to the analyst, in the current precarious macroeconomic climate, Abbott Laboratories (NYSE:ABT) is a safe investment option with an AA- credit rating and a strong track record of resilience in challenging economic downturns. Furthermore, the stock has a well-diversified healthcare portfolio, making it substantially well-positioned to tackle and address the dynamic nature of healthcare challenges post the COVID-19 pandemic. Although there was a minor dip in share price early in November 2023, the company has displayed strong fundamentals, robust financial performance with strong growth across segments, and a formidable sales expansion. Owing to such robust fundamentals and strong quarterly performance, hedge fund sentiment around Abbott Laboratories (NYSE:ABT) grew more favorable in Q3 2023, with 69 funds having stakes in the company, up from 62 in the preceding quarter. The company generated an EPS of $1.14, beating estimates of $1.1 by $0.04.