Jim Cramer’s 5 Favorite Healthcare Stock Picks in 2024

3. Abbott Laboratories (NYSE:ABT)

Number of Hedge Fund Investors: 64

Abbott Laboratories (NYSE:ABT) is one of the favorite healthcare stocks of Jim Cramer. In a latest program, Jim Cramer said Abbott Laboratories (NYSE:ABT) is in the portfolio of his charitable trust. He was recommending the stock lately. Last month, Cramer told investors to benefit from the latest selloff around Abbott Laboratories (NYSE:ABT) and buy the stock.

Polen Global Growth Strategy stated the following regarding Abbott Laboratories (NYSE:ABT) in its fourth quarter 2023 investor letter:

“Abbott Laboratories (NYSE:ABT), a globally dominant healthcare business serving a broad range of end markets, was another position we added to in the period. The stock has come under pressure in recent quarters as the company has experienced a significant (and expected) decline in sales tied to pandemic-era COVID testing. However, we feel this amounts to little more than a distraction, as the core business continues to perform very well. Nothing has changed around our expectations for long-term growth, yet the stock’s valuation has compressed, making for an attractive opportunity to add to the position given the long-term durable growth profile of this business.”