Jim Cramer turns bullish on health care stock

What happened: Jim Cramer, a prominent financial analyst, has recently turned bullish on healthcare stocks, particularly Moderna (MRNA) and CVS Health (CVS). He praised Moderna's evolution into a multi-product company with several late-stage trials, driving its 109% year-to-date gain. Cramer also highlighted CVS's strong position in the healthcare sector, citing its insurance and pharmacy services. He advised investors to stick with these stocks despite recent pullbacks, predicting long-lasting gains.

Market impact: The healthcare sector has seen increased investor interest, with biotech and pharmaceutical stocks like Moderna experiencing significant gains. CVS, a diversified healthcare company, has also benefited from this sentiment. This narrative has pushed investors towards healthcare stocks, potentially leading to further inflows and price appreciation.

What to watch next: Upcoming catalysts include Moderna's earnings report on August 4, which may provide insights into its pipeline progress. Additionally, investors should monitor CVS's earnings on August 2, which could offer updates on its Aetna integration and pharmacy services. Lastly, any regulatory decisions or data releases related to COVID-19 vaccines and treatments could significantly impact Moderna's stock price.