Don't brush off dental supply stocks. They are actually hottest performing group in the market right now!
Yes, this boring industry is red hot, and Jim Cramer is teaching investors how to play them.
Think about it—dental supply stocks are not going to get hit by the Russian ruble or Brazil's issues with its national oil company. As long as the U.S. is doing well, dental does well.
Now that the economy is in good shape, consumers have more money in their pockets to spend on dental procedures. Dental care is a $116 billion market that is growing at 3 percent annually.
"Meanwhile, the population here in the United States is aging, and as our society gets older, it tends to need a lot more dental work. On top of that, we're also seeing a real expansion of the global middle class, which means more demand for dentistry worldwide," the "Mad Money" host said.
Henry Schein is the world's No. 1 distributor of dental health products and services for dentists and veterinarians. Cramer likes this stock as it has a history of making smart acquisitions that help its bottom line. Additionally it has been supplying more high-tech products, such as the snazzy DEXIS CariVu—a handheld device that uses trans-illumination technology to find cracks and lesions in teeth that would be invisible in an X-ray.
Or how about Patterson Companies? Patterson is the No. 2 supplier of dental products and services. And though the stock is on the cheaper side, trading at less than 20 times earnings, it didn't raise forecasts for 2015. This leads Cramer to recommend sticking with Henry Schein.
"I think this is one of those situations where it makes sense to pay up a bit for best of breed, rather than settling for second best," he said.
Additionally, when Patterson and Henry Schein are doing well, that means Sirona Dental Systems is doing well. It is the leading manufacturer of high-tech dental equipment, and its stock has gone to $89 from $77 in two months. Wowzer! Cramer expects that the company will grow its revenues faster than Wall Street expects.
Or, if you're looking for a spec stock, the "Mad Money" host recommended the maker of the Invisalign system—Align Technology. The stock became a bit of a battleground when Danaher sold its 5 percent stake in the company and various short sales began. Thus, Cramer only recommends this one for speculation.
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Finally, there is Dentsply, which makes consumable dental products. And while Cramer likes the stock, he is worried about its 45 percent exposure to Europe.
So while some companies in the dental space could use some bridge work to sparkle again, Cramer loves what he's seeing. Especially with Henry Schein and Patterson.
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