Diversified health care giant Abbott Labs (NYSE:ABT) might have shed its branded drugs division last year, but this stock lived up to investor expectations during 2013's monster market rally. With its reach across medical devices, generic drugs, and more, Abbott's a steady foundation stock for nearly any portfolio -- and there's reason to believe this pick could soar in the new year, as well.
What's going right for Abbott? The company's nutritionals division, its largest business unit by sales, has taken over as the firm's growth driver in the wake of its spinoff of its branded pharmaceuticals business. The division's 6.2% sales growth over the first nine months of 2013 has been a boon for investors, but with other units such as diagnostics picking up momentum, nutritionals are hardly Abbott's lone strength.
What should you watch at Abbott in the new year? Find out in the video below, as Motley Fool contributor Dan Carroll takes you through three big reasons to buy into the optimism surrounding Abbott -- and how a few major tailwinds could propel this standout stock to investor glory in 2014.