"First, though, let's talk about why the stock became so contentious. Part of it simply comes down to the fact that, even though JNJ is an incredibly well-run company that's in fabulous shape, it belongs to a cohort that hasn't been getting much love lately, the recession-proof space," the "Mad Money" host said.
Because the global economy is expanding, Cramer said analysts are less inclined to upgrade Johnson & Johnson's stock when they can upgrade industrial or technology names instead.
But after a strong earnings report, which showed over 15 percent growth in Johnson & Johnson's pharmaceutical business, Cramer said the debate is settled.
"While JNJ has been a real battleground in recent months, after yesterday's phenomenal quarter, the bulls have scored a decisive victory," he said. "Not all opinions are created equal in the stock market, but it sure does make it tough on you, doesn't it? Eventually someone is going to be right and someone else will be wrong. With JNJ, yesterday's quarter tells us the bulls were right, and I think the stock could have more upside here."