The latest round of corporate earnings reports has demonstrated the importance of staying true to comprehensive stock analysis while not overreacting to the initial move in share price, CNBC's Jim Cramer said Friday.

DraftKings, which posted results earlier Friday, and Penn National Gaming, which reported Thursday, are the two most recent examples, according to Cramer.

Health insurance firm Centene and the steelmaker Nucor also crystallize the need for investors to remain level-headed in evaluating earnings reports, Cramer said.

After interviewing Centene CEO Michael Neidorff following the company's earnings last week and examining the financials, Cramer said, "I came to the conclusion independently, and told you that Centene should be bought.".

After shaking off more selling pressure, Centene has rallied, Cramer said?