Yup. Arguably a tactical victory for Japan, indisputably a strategic allied victory. The first time a major Japanese offensive was defeated. And they never had another one succeed.
On the Japanese side, Shokaku was significantly damaged. Zuikaku was undamaged, but lost a portion of its air wing. Both were sidelined for a couple of months.
On the Allied side, Lexington was sunk, Yorktown was significantly damaged. Maybe fewer pilots lost, but lots of aircraft. Yorktown made it back to Pearl, spent TWO DAYS in drydock, and departed for Midway, with an air wing composed of survivors of the Coral Sea, new recruits, and some planes and crews from Saratoga, then under repair from torpedo damage.
So Midway was the obvious turning point, but wouldn't have happened that way if Japan hadn't sent two carriers to the Coral Sea, and failed to get one of them back into the fray as soon as possible.
Trebuchet's list of WWII in the Pacific turning points:
1. Coral Sea. First failed Japanese offensive, none successful after. Loss of Shokaku and Zuikaku to Midway.
2. Midway. First absolute Japanese defeat.
3. The Guadalcanal campaign. First real allied offensive. Japan ALWAYS on the defensive thereafter.
0. 0755, Hawaiian Time, December 7, 1941, when the first bomb fell on Pearl Harbor. Absolutely no chance of Japanese victory after that, although it took some time for it to be clear.