DoublePlay has received FDA clearance for fixation of suture to bone in the shoulder, foot, ankle, knee, hand, wrist, elbow and pelvis.

Jack Giroux, president of sports medicine at ArthroCare, said: "DoublePlay makes an invaluable addition to our sports medicine line of suture anchors, and we believe its state-of-the-art design and composition will make it the anchor of choice for orthopedic surgeons worldwide."

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Which stocks are your top Buy recommendations at this time?

The orthopedics group. At this point, Hanger Orthopedics (NYSE: HGR) is our only Buy-rated stock in that group. ArthroCare (Nasdaq: ARTC), a manufacturer of coblation technology, is our other Buy-rated stock. However, ARTC has reached our target price, rising 21% since our last report.

Is there anything the average investor should know about pursuing medical devices stocks that they may not know?

As with all stocks, investors need to be conscious of the risks involved. The medical device industry in the aggregate has produced fairly consistent results for some time now.

However, on an individual basis, many names are quite volatile. Investors shouldn't lose sight of the continual innovation and infrastructure required to support such innovation.

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