Jim Cramer sees the boom in Edwards Lifesciences (EW) - Get Report as well deserved, he said on CNBC's "Mad Dash" segment. The stock is up 17% Monday after it released positive results for its Sapien heart valve product in a recent clinical trial.
"Sometimes someone comes along with a truly revolutionary device," said TheStreet's Jim Cramer, who is co-manager of the Action Alerts PLUS portfolio.
Unlike open heart surgery, this device doesn't require the opening of the chest cavity to perform operations. This makes it much, much safer for the patient, Cramer explained.
There's also a lower risk of stroke after surgery and a higher survival rate, he added.
"This is going to change the world," he said. "This is a remarkable device that's going to change people's lives." Some company should have acquired Edward Lifesciences when it had the chance, Cramer said.
Wall Street was late to recognize the potential, even though doctors and those inside the medical industry knew the device worked very well, he added.
Now analysts are getting on board and the stock "is not done going higher," Cramer said. While he doesn't want investors to chase the stock after this big of a rally, he likes the stock because of the device's potential.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.