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"When you got a stock that's hitting its 52-week high while virtually everything else in its sector is snoozing ... that's something you need to take a look at," Jim Cramer told viewers of his "Mad Money" TV show Friday.

That's why he looked into West Pharmaceutical Services ( WST).

It's on top of the drug packaging and delivery markets, he said, and that means tamper-proof packaging, stoppers and seals. Unlike sexier pharmaceutical companies that make the drugs you read about, West Pharma is a dependable, boring stock that could make you some real money, he said.

The stock got its first boost in the 1980s, when Johnson & Johnson ( JNJ) had to pull Tylenol off of shelves when cyanide was found in some tampered samples.

Now there's a new catalyst for the stock, he said, and it's Exubera, the new inhalable insulin.

He still likes Nektar Therapeutics ( NKTR) as a trade on the Exubera hoopla, because it created the delivery system for the treatment.

However, the stock is risky and he would sell it as soon as Exubera is released, he said.

But Nektar has outsourced the manufacturing of the inhaler to West Pharma, he said, making it a less risky way to play the "Exubera hoopla."

West Pharma has passed total cost increases on to customers, and "that's the kind of power you want stock to have," he said. The Lionville, Pa., company just beat first-quarter earnings estimates handily and guided up huge, added Cramer.

So with the stock flying high, is now a good time to buy? He said that if a stock is too expensive, he'll pass.

But West Pharma is trading at 17 times forward earnings on 27% growth, he said. So even though it has moved dramatically higher, it's still a cheap stock.

HealthSpring Bound to Bounce

Sticking with the health-care theme, Cramer said that health insurer Aetna ( AET) imploded; and when something that huge falls off the tracks, "there's bound to be some real nasty pin action."

The health insurance companies and HMOs saw a "crescendo selloff," meaning that everything in the group gets crushed and the selling is overdone.

After one of these, everything should bounce back in bull mode as Wall Street recognizes that the selling was overdone, and that's what happened Friday, he said. But there's always a stock left behind, and that stock was HealthSpring ( HS).

The stock has no defenders, no sponsorship and won't bounce back immediately, he said, making it a "major opportunity to make money."

HealthSpring is a Medicare HMO that came public in February. The company made the mistake of having to lower its guidance in the very first quarter after it came public, and since then it has been despised, Cramer said.

The company takes care of private Medicare for states and runs it like an HMO. This will be lucrative space, given the fact that over the next 10 years Medicare spending should grow at a compound rate of more than 9%, said Cramer. This doesn't include the new drug plan, he added.

"Most Medicare is just fee for service, so it's sloppy and wasteful," he said. By joining up with HealthSpring, the company can use its bargaining power to lower costs. And in this business, "being able to contain costs is crucial."

The Nashville, Tenn., company is adding new members at a torrid pace and he believes that there is a lot of room for it to grow new members.

And despite its earnings gaffe, the company is good at what it does. He said that the key metric here is the medical loss ratio, meaning the percentage of premiums that a company actually needs to spend on medical costs.

HealthSpring has kept its medical loss ratio at under 79%, a rate that its competitors probably wish that they had, he said.

An 'In' to Indonesia

Indonesia is now the No. 1 coal exporter, more proof that the country has the commodities the market wants, including more oil than it can drill for and a ton of gold, Cramer said.

It's an amazing growth story. And to underscore the point Cramer pointed out that so many people are fighting to get into The Indonesia Fund ( IF) that it's trading at a 46% premium to its underlying assets. That means that the stocks in the fund are worth much less than the fund itself.

But Cramer said that viewers needed more self control than that. For those who want a piece of this growth story, he recommended Perusahaan Perseroan Perseropt PTelekomunikasi Indonesia ( TLK), also known as Telkom Indonesia.

The company has 71% gross margins, is a semi-government monopoly and is highly levered to the growth of the company, Cramer said.

Phone lies and the Internet are what you invest in when your underdeveloped country starts to grow up, he said.

Cramer said that the stock is a fast grower in one of the world's hottest economies, plus it has a decent dividend. "What's not to like."

The News on NuVasive

NuVasive ( NUVA) chairman and CEO Alexis V. Lukianov joined Cramer to discuss his company's most recent quarter and confusion that had surrounded the company's earnings guidance.

Cramer pointed out that a Wachovia analyst has said that the company could earn 20 cents to 23 cents a share. He added that this was a particularly aggressive call given the fact that the company hasn't been making money.

But Lukianov said that NuVasive hasn't given any guidance like that. While pure sales growth has been great, he said that his company plans to break even.

He said that his company's fundamentals have not changed, and that NuVasive doesn't have a lot of Wall Street coverage.

"There was concern and confusion over whether NuVasive had lowered its guidance before the most recent earnings announcement," Lukianov said. But he said that the company had not lowered its forecast or given 2006 guidance before the announcement.

He added that people are now getting excited about the company and the stock, given the fact that it had a great first quarter.

To view Cramer's interview with Lukianov, click here .

Lightning Round

Cramer was bullish on Ultra Petroleum ( UPL), Peabody Energy ( BTU), Finisar ( FNSR), BHP Billiton ( BHP), Southern Copper ( PCU), Ladish ( LDSH), Boeing ( BA), Amerada Hess ( AHC), Houston Exploration ( THX), Hana Biosciences ( HNAB) and Energy Partners ( EPL).

Cramer was bearish on Travelzoo ( TZOO), Tanzanian Royalty Exploration ( TRE), Moody's ( MCO), Covad Communications ( DVW) and International Securities Exchange ( ISE).

For more of Cramer's insights during the most recent Lightning Round, click here .


Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.

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At the time of publication, Cramer was long BHP Billiton.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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