Omniture has turned out to be another winning stock pick from Cramer. He recommended the internet-metrics company back in December, and the share price has jumped over 100% since then. Friday on Mad Money, Cramer said he found another stock that could have the same potential.

Masimo, a medical-device company headquartered in Irvine, Calif., is up 52% since it started trading Aug. 8. It may not sound like the overlooked IPOs Cramer has been highlighting all week, but Masimo’s superior product is capturing market share and fueling growth. So the run isn’t done.

Masimo built a non-invasive way to measure oxygen in the bloodstream. It’s a sensor for the fingertip or earlobe that can operate when there’s movement or little circulation. A lot of pulse oximtry systems, as they are called, made by the competition have trouble doing this. So as this billion-dollar market steadily grows each year, Masimo grabs a bigger and bigger piece of it.

There are a few other keys to Masimo’s business success. First, the company follows Gillette’s “razor and razorblade” model. Thirty percent of Masimo’s sales come from the hardware it sells, but the other 70% come from disposable parts needed to operate the hardware. That makes for a nice recurring revenue stream.

Another point in Masimo’s favor has to do with the virtual lockdown on industry patents the company has – 253 issued and 189 pending – which creates a high barrier to entry for competitors.

Lastly, more growth should come from Masimo’s move into new monitoring businesses. Cramer said it adds up to a $1.5 billion combined market opportunity.

Masimo is “definitely worth buying,” Cramer said. He just recommended waiting for a pullback to get a better price.

Questions for Cramer?

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com