Cramer's 'Mad Money' Recap: A Study in Stents

Even though Cramer said he would have probably bought Boston Scientific here if he was still working at his hedge fund, he understands Johnson & Johnson's stability could make it the preferable choice for most home-gamers as it's more comfortable to get into a stock with less downside.

However, "to know which stock picks are for you, you need to figure out what you're comfortable with and what your aims are," he reiterated. "I can't tell you if you should take the Boston Scientific end or the Johnson & Johnson end."

A Good Apparel Fit

Speculating on a potential takeover is a way to make some extra money in the market, and right now Cramer believes outdoor apparel maker Timberland (TBL Quote) is a takeover target worth an investment.

In fact, Cramer believes VF Corp. (VFC Quote) "might very well try to buy the company."

When VF Corp.'s CEO Mackey McDonald was a guest on Cramer's "Mad Money" show last week, Cramer asked him if he would consider buying Timberland. And although the chief executive was not at liberty to give a straightforward answer, he didn't say no and he didn't rule it out.

Over the past few years, VF Corp. has made many acquisitions, and in all likelihood, it should continue to do so, Cramer said. When VF Corp. bought each brand, the company integrated it into its outdoor coalition.

It should be able to get Timberland into more stores as it has "tremendous bargaining power," Cramer said, adding he believes VF could do a lot more for Timberland than Timberland could do for itself.

Moreover, Timberland has hired Goldman Sachs to find a buyer for the company.

Even if it doesn't get a bid, it's OK, said Cramer, because while Timberland's fundamentals could be stronger, they are all right. And although it is having trouble with its brands in the U.S., its sales are up in Asia. Plus, it is sitting on a lot of cash and has a good buyback program, he said.

"VF could do some great things here and I don't see any reason for it not to buy Timberland," he said, adding VF could use the growth and has already made similar company purchases.