Jim Cramer says medical supplies are coming back

CNBC’s Jim Cramer highlighted health stocks on Thursday, a rising segment that helped lead the top market.

After being discounted and “left for dead” amid the coronavirus pandemic, health populations are regaining their health, he said.

“I think the health care stocks that are left behind are coming back to life at the expense of the plays of cyclical growth, and you should catch them before they all take off,” the Mad Money host said.

The comments come after solid economic data helped keep the Dow Jones Industrial Average above 34,000 for the first time in Thursday’s session. The 30-share index gained 305 points, 0.9%, to close at 34,035.99, sparked by a rise in UnitedHealth Group shares.

UnitedHealth, an insurance provider and Dow component, released a quarterly report that exceeded analysts ’estimates. Cramer said positive shares could also be found at GlaxoSmithKline, Eli Lilly, Regeneron Pharmaceuticals and Johnson & Johnson.

With the exception of Johnson & Johnson, each of these shares has risen double-digit from its recent lows to the top of the year.

“This cohort had fallen so well that it finally represented enormous value. I was just waiting for the signal to move … [and] it happened, “Cramer said.” Given how monumental this movement was, I bet it’s far from over. “

Disclosure: Cramer’s charity has shares in Eli Lilly.

Exemption from liability