Abbott Laboratories (ABT) was Smart Insider's stock pick of the week after Chief Financial Officer Philip Boudreau bought $1.1 million worth of company shares at $91.93 apiece on April 23.

The CFO owned $6.5 million in stock and more than 200,000 options before the recent transaction, making it "unlikely" that he was under "pressure" to make "such a large purchase," Smart Insider said in a Tuesday note.

Smart Insider renewed the stock +1, or strong positive signal, on April 28.