🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Jim Cramer Calls This Healthcare Stock A 'Worthy Spec,' Recommends Avoiding Canada Goose

Published 21/05/2024, 13:44
© Reuters.  Jim Cramer Calls This Healthcare Stock A 'Worthy Spec,' Recommends Avoiding Canada Goose
ABT
-
NTNX
-
GOOS
-
MGTX
-

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

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.
Read Next: $3.5M Bet On This Healthcare Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

Image: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.