Based in Kalamazoo, Michigan, our latest featured recommendation is one of the world's largest manufacturers of prosthetic knees, hips, and other replacement joints, explains Gordon Pape, editor of Internet Wealth Builder.

But that's not all Styker Corp. (SYK) does. It is one of the world's leading medical technology companies, selling its products and services in over 100 countries. Stryker is involved include robotic surgery, biosurgery, sports medicine, neurosurgery, spinal implants, and much more.

tryker has grown into a Fortune 500 company with annual sales of $9 billion in fiscal 2013. It has expanded both organically and by acquisition.

Its most recent deal was the purchase of Small Bone Innovations for $375 million in an all-cash transaction. Small Bone is a world leader in ankle replacement systems. On July 17, the company released second-quarter financial results. They showed a 6.8% increase in net sales to $2.4 billion. Adjusted net earnings, which exclude one-time items, were $415 million ($1.08 per share), slightly higher than the same period a year ago.

The company said it expects organic sales to increase by 5% to 6% over the full year with diluted earnings of $4.75 to $4.80 per share.

In a research report published after the results were released, RBC Capital Markets said it expects organic growth to accelerate through the rest of this year and into 2015 as the benefits from recent acquisitions kick in.

The brokerage firm forecasts that 2015 revenue will come in at $10.2 billion with earnings per share of $5.32.

RBC also said it expects continued merger and acquisition activity to drive Stryker's share price higher in the second half of this year. The report noted the company has about $5 billion in cash and marketable securities, giving management a great deal of flexibility. The firm has a target price of $90 on the shares.

Whether Stryker can pull off a tax inversion deal is problematic, given the unease in Washington about the flight of American corporations to foreign tax havens. But even without that kind of controversial takeover or merger, Stryker offers investors good long-term growth potential in the healthcare area.

The shares pay a quarterly dividend of $0.305 ($1.22 annually) to yield 1.5% at the current price. The stock is down 7.5% from its 52-week high of $86.93 in June so this pullback presents a good buying opportunity.

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