Buy Abbott Laboratories (ABT) If You're Worried About COVID, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Warned About Big Risk To Big Tech. Abbott Laboratories (NYSE:ABT) is one of the stocks Jim Cramer recently discussed.

Abbott Laboratories (NYSE:ABT) is one of the largest pharmaceutical companies in the world. Its shares have gained 17% year-to-date and have recovered all of their losses since an 8% drop in July. Abbott Laboratories (NYSE:ABT)’s shares fell in July after investors punished the firm for apparently keeping its guidance unchanged. With reports of a new variant of COVID, Cramer has started to wonder whether Abbott Laboratories (NYSE:ABT) might be the right play, especially due to shifting government policies on vaccines:

“. . .the thing that is fascinating to me is if you really felt that this was bad and there was going to be another wave of COVID, then you should be buying Abbott, Binax. That is not working as a trade, I got that but it has hurt you, the stock’s up like 30 cents. But I think that these are very politicized. You heard from RFK, it’s a very small group of people who I guess should we say have to worry about it.”

Cramer also mentioned Bnax in an earlier appearance:

“You know what, my colleague Jeff Marks said this could be good for Abbott. The Binax. Cause it looks like you know if you’re not going to give the COVID vaccine then a lot of people maybe you need the test. So maybe you buy Abbott off the Binax. I don’t know. I think Abbott’s much more of a. . .”

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Disclosure: None. This article is originally published at Insider Monkey.