Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of RTI Surgical (NASDAQ:RTIX), a producer of orthopedic and surgical implants that aid in the natural healing of human bone and tissues, soared by as much as 14% early in the morning after announcing CE mark approval for Fortiva porcine dermis in Europe last night, and announcing the launch of two new bone grafting solutions at the American Academy of Orthopaedic Surgeons (AAOS) annual meeting. Shares have since cooled and are now up just 2% as of this writing.

So what: The big boost comes from its approval to CE mark Fortiva porcine dermis throughout Europe. This implant is designed to be most often used in hernias and other body wall defects as a reinforcement or to help supplement the healing of surgically repaired or ruptured soft tissue membranes. Fortiva is already approved in the U.S. and launched during the summer of 2013.

The other good news relates to the launch of NanOss Bioactive 3D, a "synthetic three-dimensional bioscaffold which supports bone formation," and map3 Cellular Allogeneic Bone Graft, which contains three critical elements needed to generate and maintain new bone, at the upcoming AAOS meeting.

Now what: Today's double dose of positive news events certainly helps RTI Surgical, which had predicted a slight sequential quarterly revenue decline in the first quarter of fiscal 2014. Looking forward, though, these new products, coupled with organic growth from its existing product line, look very capable of producing double-digit growth over the next couple of years. As the global population ages, the need for regenerative therapies such as what RTI Surgical provides is only going to grow in importance. While its forward P/E of 31 might be a bit scary at the moment, I can see a scenario where RTI heads even higher from here.

RTI Surgical shares may have jumped today, but even with its double-digit growth potential is unlikely to be able to keep up with this top stockĀ 
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Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.

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