IRadimed Corporation IRMD

IRadimed is the quirky little med-tech that could: it sells the only pump you can safely park inside an MRI, mints 77% gross margins and has more cash than debt by a factor of 330. The upcoming 3870 pump and a shiny new factory could kick growth into a higher gear, but the story still hinges on a single FDA decision and a very specific slice of the hospital budget. At roughly 35× earnings, the market is giving management some benefit of the doubt but not baking in flawless execution. If you believe the FDA clock stays on time and no giants crash the party, the shares offer a respectable—though not screaming—discount to intrinsic value.