Jim Cramer’s Bold Predictions About These 10 Healthcare Stocks

5. Abbott Laboratories (NYSE:ABT)

Number of Hedge Fund Holders In Q3 2024: 63

Date of Cramer’s Comments: 8-22-24

Performance Since Then: 0.95%

Abbott Laboratories (NYSE:ABT) is one of the most well-known and largest drug manufacturers in the world. However, global economic problems have hurt the firm in 2024. US healthcare spending slowdown and global economic troubles have hampered Abbott Laboratories (NYSE:ABT)’s diagnostic equipment and nutritional businesses. Consequently, the stock is up by a modest 3% year-to-date. However, H2 has come with some catalysts, such as in November when Abbott Laboratories (NYSE:ABT)’s shares rose by 4.6% after it was cleared in a lawsuit surrounding baby powder. Here’s what Cramer had to say in August:

“Okay, I got the whole lawsuit thing down. We’ve got one more lawsuit that’s done in September. It’s going to be in the same jurisdiction as the bad one where they got the very big verdict. I think that verdict is going to be brought down. I think they’ll lose the next ones too, but we’re holding on to it for the trust. Why? Because Abbott’s a great company. In the end, these are product liability suits—they are not mass tort actions like J&J. I think we’ll come out ahead of the game. They’ve got four great product lines that are selling fabulously. The market is still too overbought, people. We got too hopeful, so now we might need to take a brief respite. There’s nothing wrong with that—maybe little buyers’ remorse.”