Although stocks ended higher on Monday, Cramer said investors should still own some real defensive stocks.
Take CareFusion , for example. A secular growth name, it doesn't need a healthy economy to deliver healthy earnings growth, Cramer said. Based in San Diego, this medical instruments and supplies company is the ultimate health care cost and containment play, he noted. Its products help hospital administrators save both time and money.
When the company reported earnings on August 8, it delivered a 2 cent earnings beat on a 50 cent basis with in-line revenues that rose by 3.7 percent year-over-year. It also posted inline guidance for the full-year.
The stock currently trades at just 12.2 times forward earnings with a 13 percent growth rate. While that seems a little expensive to Cramer, he said anything can come down in this environment. To learn more about this defensive play and its future prospects, Cramer chatted with CEO Kieran Gallahue. Watch the video to see the full conversation.
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