Jim Cramer identified Becton, Dickinson and Co. ( BDX) and Baxter International ( BAX) as two stocks worth considering on his "Mad Money" show Friday night. Both companies traded lower Monday.
On Monday, shares of BD closed lower, down $1.81, or 2.82% to $62.34. Shares of Baxter closed lower, down $0.87, or 1.68% to $51.05. Cramer said both companies don't make obscenely expensive drugs or devices, and aren't a target for Medicare gouging. Instead, both companies focus on basic hospital supplies -- BD gets 58% of its revenue from basic hospital supplies and Baxter derives 37% of its revenue from basic hospital supplies. According to Cramer, the basic hospital supplies business is not only Obama resistant, but also recession resistant. Cramer said both companies are trading at an "Obama discount," at the low end of their historical valuations and that he'd be a buyer of both names.