What's better than momentum? Mo' momentum.

Let's take a closer look at five of this past week's biggest scorchers.

Company

Dec. 16 Weekly Gain My Watchlist
ISTA Pharmaceuticals (Nasdaq: ISTA) $6.68 70% Add
Synovis Life Technologies (Nasdaq: SYNO) $27.90 49% Add
Zoll Medical (Nasdaq: ZOLL) $61.17 24% Add
SonoSite (Nasdaq: SONO) $53.80 24% Add
Seaspan (NYSE: SSW) $13.15 23% Add

Source: Barron's.

ISTA was the market's biggest gain, soaring on news that it had received -- but rejected -- a hostile buyout bid on behalf of Valeant (NYSE: VRX). Why would the shares climb, even above Valeant's offer to acquire the company at $6.50 a share? Well, investors feel that Valeant may raise its bid now that ISTA is playing hard to get. It's a risky bet for investors, since sometimes "no" really means "no."

There's no such drama for Synovis. It accepted a buyout bid from Baxter (NYSE: BAX) that will take out the soft-tissue repair specialist at $28 a share.

Zoll received some welcome news on its LifeVest product. Medicare agreed to continue reimbursing the innovative wearable defibrillator at its current rate.

Fujifilm will be paying $54 a share -- or nearly $1 billion -- for SonoSite. The maker of portable ultrasound machines will give the Japanese film giant welcome exposure in the health-care market.

Seaspan is open for some home cooking. The shipper announced that it would be buying back 10 million shares at $15, a 43% premium to where the stock was trading before the news.

It was a great week for these five stocks. If you want to get an early read on some of tomorrow's major gainers, there's a special report on three hidden winners in a booming industry. The report is free -- like this article -- but it won't be around forever, so check it out now.

Which of these five stocks do you think will continue to move higher? Share your thoughts in the comments box below.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.