Jim Cramer: Lemonade Is 'Up Too Much,' This Health Care Stock Can Go Lower

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Lemonade, Inc. LMND is “up too much… You got to let it come down.”

On Nov. 22, JMP Securities analyst Ronald Josey maintained Lemonade with a Market Outperform and raised the price target from $40 to $60.

Cencora, Inc. COR can go lower and he prefers Cardinal Health, Inc. CAH to it.

On Jan. 2, Cencora announced the completion of its previously announced acquisition of Retina Consultants of America, a leading management services organization of retina specialists.

Cramer said he would be “careful” with Novo Nordisk A/S NVO.

On Dec. 20, Novo Nordisk released headline results from the REDEFINE 1 Phase 3 trial in the global REDEFINE program. REDEFINE 1 is a 68-week efficacy and safety trial investigating subcutaneous CagriSema (a fixed dose combination of cagrilintide 2.4 mg and semaglutide 2.4 mg) compared to the individual components cagrilintide 2.4 mg, semaglutide 2.4 mg, and placebo, all administered once-weekly.

PepsiCo PEP right now, is in the “crosshairs of the GLP-1 situation,” Cramer said.

On Jan. 7, Piper Sandler analyst Mike Lavery initiated coverage on PepsiCo with an Overweight rating and announced a price target of $171.

Price Action:

• Novo Nordisk shares fell 2% to settle at $83.34 on Tuesday.
• PepsiCo shares fell 0.6% to close at $145.40 during the session.
• Cencora shares gained 2.3% to settle at $234.24.
• Lemonade shares fell 6.3% to settle at $36.14 on Tuesday.

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