Jim Cramer: Don't Buy This Health Care Stock Yet, It Is 'Still Too Expensive'

On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended waiting before buying telehealth firm Doximity, Inc. (NYSE:DOCS), noting it is “still too expensive.”

Doximity, on Nov. 6, reported quarterly earnings of 45 cents per share which beat the analyst consensus estimate of 38 cents per share. The company, which connects physicians and nurse practitioners with other healthcare providers, reported quarterly sales of $168.525 million. It beat the analyst consensus estimate of $157.614 million.

Cramer recommended selling half of IREN Limited (NASDAQ:IREN) stock.

IREN, on Nov. 6, reported quarterly earnings of $1.08 per share, which beat the consensus estimate of 14 cents. Quarterly revenue came in at $240.3 million, beating the Street estimate of $235.5 million and up from $49.57 million in the same period last year.

“Anything connected to housing is just bad. We have to see the Fed cut rates. If the Fed cut rates, I'd rather see you in one of the major big box home companies,” Cramer said when asked about Boise Cascade Company (NYSE:BCC). “Boise's too levered to only a certain part of the food chain.”

On Nov. 3, Boise Cascade reported quarterly earnings of 58 cents per share, which missed the analyst consensus estimate of 76 cents per share. The company reported quarterly sales of $1.668 billion, which beat the analyst consensus estimate of $1.623 billion.

Price Action:

• Doximity shares fell 3.3% to settle at $50.96 on Wednesday.
• IREN shares fell 2.9% to close at $55.70.
• Boise Cascade shares rose 0.9% to settle at $70.28 on Wednesday.

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