• Cramer called JNJ a dip-buy after a 2% drop, but the stock is already up 54% over the past year and just hit an all-time high.

• JNJ outpaced Cramer’s preferred tech hedges NVDA and AAPL by more than 20 percentage points over the past year.

• JNJ’s Psych Congress data was already public at 8 a.m., hours before Cramer’s segment aired, and he misidentified Spravato as the schizophrenia drug when it actually treats depression.

• Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Johnson & Johnson didn’t make the cut. Enter your email to see the names that beat JNJ. The report is free. Enter your email and see if any of your stocks made the cut.

On Tuesday morning’s Squawk on the Street, Jim Cramer told viewers to step in on a mid-session drop in Johnson & Johnson (NYSE:JNJ). “J and J down six off of a weakness in the drug group. Nothing particular,” Cramer said, adding “I’m going to buy some of that because they’ve got something for schizophrenia.” He tied the call to the Psych Congress conference running September 15-19 in New Orleans, where he expects fresh data on Caplyta and Spravato.

The dip was real. JNJ was down 2.33% on the session to $268.82, part of a broader pharma selloff that included Amgen down 7.6%, Bristol Myers Squibb down 3.1%, and the health care ETF XLV down 1.9%.

The framing worth pausing on is what Cramer left out. JNJ is up 53.76% over the past year and up 31.99% year to date, hitting an all-time high last week. Compare that with the two names he most often positions JNJ against as a hedge:

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• NVIDIA (NASDAQ:NVDA): up 32.63% over the past year, 22.06% YTD.

• Apple (NASDAQ:AAPL): up 32.32% over the past year, 16.59% YTD.

On August 27, Cramer told a viewer holding Alphabet, Nvidia, and Apple to add JNJ as their health care counterweight, saying of the tech giants “own them. Don’t trade them.” The ballast is beating the ships.

Cramer told viewers JNJ “will reveal some documents about how Caplyta is doing versus manias”. In fact, the company had already published the release. At 8 a.m. ET on September 8, JNJ put out “Johnson & Johnson spotlights new neuropsychiatry data across bipolar mania, depression and schizophrenia at Psych Congress 2026,” hours before the Cramer segment aired.