AbbVie Stock Hits a New 52-Week High. Has It Gotten Too Expensive to Buy?
In the past five years, this top healthcare stock has risen by close to 130%.
Overview
When a stock hits a new 52-week high, it can be a sign that things are going well for the business and that investors are recognizing some encouraging value. However, it also means that the stock has become more expensive of late. Thus, it isn't always clear whether it's a good buy, since buying a stock at an elevated price can lead to less-than-stellar returns later on.
Healthcare giant AbbVie (NYSE: ABBV) hit a new 52-week high on Monday. And in the past 12 months, it's now up around 40%. Can it go even higher, or has its valuation become too rich to make it a good buy?
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.