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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Zoetis (ZTS - Get Report) , Idexx Labs (IDXX - Get Report) , VCA (WOOF) and PetMed Express (PETS - Get Report) : When earnings season makes trading tough, stick with strong multi-year themes, Cramer told viewers, themes like Americans spending more on their pets. Pet care spending has exploded, from $28.5 billion in 2001 to just over $60 billion in 2015. That makes groups like veterinary care red-hot.
The vet care space includes Zoetis, the largest animal health company around; Idexx Labs, makers of vet testing equipment; VCA, operators of 680 vet hospitals and clinics; and PetMed Express, which sells medication directly to pet owners.
Of the group, Cramer said he likes Idexx but not at 38 times earnings. He recommended buying this one only on weakness. Zoetis has been a wild trader, and Cramer said he'd wait for the company to report another strong quarter before buying in. He was also bullish on VCA, which only trades at 21 times earnings.
Cramer's only criticism was for PetMed Express, which has limited upside. Cramer said he prefers to own the drug makers, such as Zoetis, over just a retailer.
Danaher (DHR - Get Report) and Fortive (FTV - Get Report) : On July 2, Danher completed the spinoff of its industrial business as a new company, Fortive, leaving the company's life sciences, diagnostics and environmental businesses under the Danaher banner. The natural question on investors' minds now is, are both companies worth holding onto?
Cramer explained the new Danaher is much more focused, deriving half of its revenue from life sciences and diagnostics. All the company's businesses have high margins and growth, making it a consistent earner that portfolio managers will love.
Danaher has a long history of smart acquisitions, and now has multiple avenues where it can continue that legacy. Cramer is a fan of the company's dental and water technology businesses in particular.
Fortive, on the other hand, focuses on professional instruments such as power and air quality monitors, as well as industrial technologies such as motion control systems and truck fleet tracking.
Cramer said he's a big fan of the new Danaher, which trades at 21 times earnings. Fortive however, needs a strong global economy to shine and the company's cyclical nature makes it far less attractive at just under 20 times earnings.
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