Cramer's 'Mad Money' Recap: Syneron Will Surge

Jim Cramer discussed a stock on his "Mad Money" TV show Wednesday that has been out of the spotlight for in a long time -- Syneron Medical (ELOS Quote).

The cosmetic-laser company's stock hit the mid-$40s in December 2005 before pulling back.

Now it's back with a new story, he said. Cramer had previously told viewers to swap out of Syneron and into Palomar(PMTI Quote), a stock that Cramer previously thought of as "best of breed" in the laser space.

Syneron, which Cramer calls by its ticker name, ELOS, is down to $25.70. But Cramer believes that it will go much higher, as it has a cheap and major catalyst coming out next month. It could be big enough to turn the whole stock around, he said.

After ELOS reported two negative quarters, everyone on Wall Street stopped paying attention to it, but the two missed quarters were not related to the company's core business, Cramer said.

ELOS has an average of 30% revenue growth and is up 46% in operating margins.

This once-forgotten and abandoned stock has a new product in the pipeline: a dental laser. The company should have soaring earnings in growth and be worth more because of the dental exposure, said Cramer.

In addition, there are rumors that the company could be acquired.

After becoming a punching bag and bottoming, ELOS has passed through the worst and is "ready to run," said Cramer. It's under the radar and couldn't be cheaper, he said.