Was Jim Cramer Right About Abbott Laboratories (ABT)?

We recently published a list of Jim Cramer Nailed These 11 Stock Predictions. In this article, we are going to take a look at where Abbott Laboratories (NYSE:ABT) stands against other stocks that Jim Cramer discusses.

Back in 2024, on May 20, a caller asked whether to hold or buy more shares of Abbott Laboratories (NYSE:ABT), amid a pending lawsuit over baby formula. Cramer remained positive on the outlook but advised waiting for a lower entry.

“The outlook is fabulous. There is a lawsuit in July involving formula — its competitor Reckitt Benckiser lost a case. I think that this is not going to be a big deal. But it doesn’t matter — people know what happened with J&J and they’re scared. We’re waiting till at least it gets to par or 100 to be able to buy more. But we believe in the company.”

Abbott Laboratories delivered steady growth with a 28.54% gain, justifying his patient buy-on-dip approach. Abbott Laboratories (NYSE:ABT) is rebounding as its diversified healthcare products and diagnostics tools see renewed investor interest.

Discussing the stock’s valuation, Cramer gave the following analysis in May this year:

“Okay, their forward PE shows that there’s going to be a, pretty much of an earnings explosion. And I think a lot of that’s going to be coming from Libre, which is their diabetes, they have the best diabetes device. It’s cheaper than everybody’s.

By the way, I think pound for pound, it’s better than Dexcom, and Dexcom stock was up very big today. Also, remember, Robert Ford runs Abbott, and he runs it incredibly well. And I also think they’re going to settle these lawsuits or win the lawsuits that have really kept the lid on the stock, and that’s going to happen in 2025.”

Overall, ABT ranks 2nd on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of ABT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ABT and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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