Jim Cramer’s Top 4 Recession-Proof Stock Picks

1. Edwards Lifesciences Corporation (NYSE:EW)

Jim Cramer likes Edwards Lifesciences because he thinks the company’s underlying business is strong. The California-based medical technology company specializes in artificial heart valves and hemodynamic monitoring.

Edwards Lifesciences saw a strong growth in hedge fund sentiment in the third quarter. Insider Monkey’s database shows that 57 hedge funds ended the third quarter with the stock in their portfolios, compared to just 39 hedge funds in the previous quarter.

Here is what Wedgewood Partners specifically said about Edwards Lifesciences Corporation (NYSE:EW) in its Q3 2022 investor letter:

“Edwards Lifesciences Corporation (NYSE:EW) reported just +5% growth in revenue (foreign exchange adjusted) compared to a year ago. While this quarter represented a deceleration in revenue growth from earlier this year, much of that was due to hospital staffing shortages and the vagaries of global healthcare systems emerging from pandemic disruptions. The Company received FDA approval for its minimally invasive mitral valve repair system, PASCAL, and also presented compelling related clinical data, which should help support accelerating growth over the next few years. As for Edwards’ core TAVR system, there continues to be a (unfortunately) pent-up, untreated population suffering from severe aortic stenosis that will finally be able to find their way back into healthcare systems as labor market pressures ease.”

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