Jim Cramer Calls This Healthcare Stock A 'Worthy Spec,' Recommends Avoiding Canada Goose
On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying Dutch Bros Inc. (NYSE:BROS).
On May 7, Dutch Bros posted better-than-expected first-quarter financial results and raised its full-year revenue guidance.
“The outlook is fabulous. There is a lawsuit in July that, involving formula,” Cramer said when asked about Abbott Laboratories (NYSE:ABT). “We're waiting until at least it gets to par or 100 to be able to buy more. But we believe in the company.”
On April 17, Abbott Laboratories reported better-than-expected earnings for its first quarter. The company posted first-quarter sales of $9.96 billion, up 10.8% on an organic basis for the underlying base business, beating the consensus of $9.88 billion. Abbott's adjusted diluted earnings per share was 98 cents, beating the analyst estimates of 95 cents.
Cramer commented on Canada Goose Holdings Inc. (NYSE:GOOS): “When I see a company report that kind of number that good and it doesn't go up, I say, ain't nothing going to get this thing going.”
On May 16, Canada Goose Hold reported better-than-expected fourth-quarter FY24 earnings. The company reported fourth-quarter sales growth of 22% year-on-year to C$358 million, beating the analyst consensus estimate of C$315.491 million.
The “Mad Money” host said Nutanix, Inc. (NASDAQ:NTNX) is “what the market wants right now. It's enterprise software, enterprise cloud platforms. People can't get enough of it.”
The San Jose, California-based company is expected to report its financial results for the third quarter of fiscal year 2024, after the closing bell on Wednesday, May 29.
MeiraGTx Holdings plc (NASDAQ:MGTX) is a “worthy spec,” Cramer said, “You want to be there because it's limited downside and some nice upside.”
On May 9, MeiraGTx posted a narrower-than-expected loss for its first quarter.
Price Action:
- Abbott Laboratories shares fell 0.9% to settle at $103.21 on Monday.
- Nutanix shares gained 2.7% to close at $72.16
- Dutch Bros shares gained 0.2% to settle at $36.77 on Monday.
- Canada Goose shares fell 1.3% to settle at $13.12.
- MeiraGTx shares fell 3% to close at $5.54 on Monday.
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