If a company's history and track record were good enough reasons to buy its shares, it'd be easy to make a case for investing in Abbott Laboratories ( ABT 1.52%). Abbott is a longtime leader in the healthcare sector, and has generally delivered excellent returns to long-term shareholders.

Medical device giant Abbott Laboratories is launching a $7 billion stock buyback program. The repurchase of common shares was approved by Abbott’s board of directors this month, the North Chicago-based company announced today in conjunction with revealing its third-quarter earnings.