Cramer Says This Healthcare Stock Can Go Higher, Calls Manhattan Associates 'A Winner'

Author: Avi Kapoor | March 11, 2024 08:40am

On CNBC’s "Mad Money Lightning Round," Jim Cramer said GE HealthCare Technologies Inc. (NASDAQ:GEHC) can go higher.

On Feb. 15, GE HealthCare Technologies launched a secondary underwritten public offering of 13 million shares of its common stock. The public offering is available for $82.25 per share ($80.605 per share, net of underwriting discount).

When asked about BWX Technologies, Inc. (NYSE:BWXT), he said, "I like nuke, but the way I want to play it is Vernova, which is going to be spun off by GE in April."

On Feb. 27, BWX Technologies reported better-than-expected fourth-quarter financial results.

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QUALCOMM Incorporated (NASDAQ:QCOM) is a "quandary to me because I don’t think they have the horse power to merit that stock being this high, but I understand people want to own it. It’s not for me," Cramer said.

On March 5, Qualcomm increased its quarterly cash dividend from 80 cents to 85 cents per share.

When asked about Pure Storage, Inc. (NYSE:PSTG), "It took a long time to turn around, but it is a winner."

On Feb. 28, Pure Storage reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance above estimates.

Manhattan Associates, Inc. (NASDAQ:MANH) is a "very, very good" company, Cramer said, "It’s a winner."

On Jan. 30, Manhattan Associates reported better-than-expected fourth-quarter results.

The "Mad Money" host said he has no idea what Ares Capital Corporation (NASDAQ:ARCC) really owns. "It’s had a good run though," he added.

On Feb. 7, Ares Capital posted better-than-expected quarterly earnings.

"Red-hot laser stock that actually has mojo, and I’m not going to tell you to not buy it. I am going to tell you, please wait for a little pullback," Cramer said about Coherent Corp. (NYSE:COHR).

On Feb. 20, Coherent announced that Vincent D. Mattera, Jr. will retire as CEO of the company.

Price Action:

• Shares of GE HealthCare gained 1.3% to close at $93.87 on Friday.
• BWX Technologies shares fell 2% to close at $103.19 on Friday.
• Qualcomm shares fell 2.9% to settle at $170.57.
• Ares Capital shares gained 0.2% to settle at $20.51 on Friday.
• Coherent shares fell 0.7% to close at $63.86 on Friday.
• Shares of Pure Storage fell 3.2% to settle at $55.35.
• Manhattan Associates shares fell 3.2% to close at $257.50 on Friday.

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Posted In: ARCC BWXT COHR GEHC MANH PSTG QCOM