On July 2, Abbott Laboratories rose 3.18% in regular trading, trading at $95.04/share, with turnover of $398 million. The stock continued to benefit from a series of positive developments in recent sessions.

On the news front, the U.S. Department of Justice has concluded its criminal investigation into an Abbott infant formula manufacturing facility, opting instead to pursue civil penalties. This resolution removes a significant legal overhang, as criminal charges would have carried far more severe consequences for the company. Additionally, Baird initiated coverage with an Outperform rating and a $121 price target, well above current levels, reflecting confidence in Abbott's long-term growth trajectory.

The broader Health Care Equipment sector also showed strength, with Boston Scientific up 5.61%, Intuitive Surgical up 4.67%, Stryker up 3.81%, and Medtronic up 3.62%, providing a favorable backdrop for Abbott's advance. The company's next earnings report is scheduled for July 16, with consensus EPS expectations of $1.28.

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