Listen to the Bard Medical device company C.R. Bard (BCR:NYSE - commentary - research - Cramer's Take) is also likely a takeover target, said Cramer. But, Cramer would be interested Bard even if it weren't a takeover target because it has great fundamentals and it's one of the few medical device companies not to receive a subpoena from the Department of Justice in its investigation of industry sales practices.
A takeover, which Cramer believes would happen at about $100 a share, would be the icing on the cake, he said. Bard closed Wednesday's regular session at $67.07.
Cramer said that there are too many medical device companies and that the industry is ripe for consolidation. Because of the strong dollar, which attracts foreign investment, and a low tax rate environment for stocks, "anyone who wants to do a merger deal wants to do it before these two very positive conditions evaporate," he said.
Cramer believes that the loser of the fight between Johnson & Johnson (JNJ:NYSE - commentary - research - Cramer's Take) and Boston Scientific (BSX:NYSE - commentary - research - Cramer's Take) for Guidant (GDT:NYSE - commentary - research - Cramer's Take) would be the likely buyer.