最佳医疗设备股票立即购买：CryoLife，Inc.

Experienced investment professionals who may be better informed than you now believe CryoLife, Inc. (CRY) to be the industry’s best near-term (3-month) capital gain choice.

Its current RATE OF GAIN prospects offer better assured wealth-building opportunity than comparably-assessed alternative choices in a sound Active Investment strategy.

That approach rejects the risks of irreparable loss of time investment embedded in long-term Passive Investment strategies like buy&hold which assessments reach beyond possible forecast periods.

Compounding shorter-term, higher-rate of return achievements demonstrated by prior forecasts similar to today’s can usually build investment results far beyond market-average performance.

Disciplined realistic results are produced which contain inevitable, but limited losses of time and capital, due to competitive marketplace uncertainty.

Readers familiar with our work may want to skip to the

Comparing Details

heading below.

This article rewards investors who choose to direct their investments of TIME and capital to those alternatives with the highest likelihood of successful rates of return among ones compared under identical important measures.

These are questions not often either asked nor answered by many investment analysis reports. The commonplace approach is to present those aspects of one investment which may set it apart from others, but fail to make the essential decision-supporting step of comparing alternatives on an equal-measure basis.

If your thoughts about comparative values lead to P/E ratios, do you really believe in "generally acceptable accounting practices"?

Do you really believe that multi-year, competitive share-of-market forecasts can be made in today's rapidly advancing technology environment without error provisions - provisions carried forward into the G of P/EG value assertions?

Instead, look to demonstrated human-nature behavior of self-protection. "When the oxygen masks come down, be sure to put yours in place before attempting to help others".

That is the perpetual work environment of investing Market-Makers [MMs] whose role is to aid buyers and sellers find a point of price balance

in multi-million-dollar block trades. A balance which usually requires them to put a part of their own firm's capital temporarily at the risk of changing market attitudes and prices.

They won't do it without the oxygen of price-change protection. That insurance comes from separate hedging deals in derivative securities where the operating leverage of the limited-life legal contracts involved makes deals practical.

What must be paid for the protection, and the way it is provided tells just how far those (sufficiently) in the know realistically expect prices may go. They all have real-money bets being made. Price range forecasts over time periods defined by the derivatives contract lives are involved.

Such forecasts are constantly being refined every moment investment markets are operating, and are made part of every market-day's closing records. They provide an historical record (in subsequent market price actions) of how well the "smart money" can make useful forecasts - for specific stocks, ETFs, and indexes.

Figure 1.

This map locates securities at the intersection of prospective price gains (green horizontal scale) and potential price drawdowns (red vertical scale) based on market-maker hedging behavior to protect their necessary endangerment of firm capital as they enable volume trades. Desirable conditions are down and to the right.

The "frontier" of best advantage runs from BAX at [24] to BDX at [18] to CRY at [11].

Conventional descriptive analysis often fails to link its observations very well to expected price movements. Here are some examples:

CryoLife, Inc. (NYSE:CRY), together with its subsidiaries, manufactures, processes, and distributes medical devices and implantable human tissues for use in cardiac and vascular surgeries worldwide. The company operates in two segments, Medical Devices and Preservation Services. It offers BioGlue, an agent for cross-linking proteins for cardiac, vascular, pulmonary, and general surgical applications; On-X mechanical heart valves for aortic and mitral indications; cardiac preservation services; PhotoFix, a bovine pericardial patch for use in cardiac and vascular repairing activities; and PerClot, an absorbable powdered hemostat for use in surgical procedures, including cardiac, vascular, orthopedic, neurological, gynecological, ENT, and trauma surgeries. The company also provides cardiac laser therapy products, which include laser consoles, related service and maintenance, and single-use, as well as fiber-optic hand-pieces for the treatment of coronary artery disease in patients with severe angina. In addition, it distributes E-vita OPEN PLUS, a hybrid stent graft system for the surgical and endovascular treatment; E-xtra DESIGN ENGINEERING products for the treatment of aortic vascular diseases; E-ventus BX, a balloon-expandable peripheral stent graft for the endovascular treatment of renal and pelvic arteries; E-liac, a stent graft used to treat aneurysmal iliac arteries, as well as aneurysmal iliac side branches; E-vita THORACIC 3G, a stent graft system for the endovascular treatment of thoracic aortic aneurysms; and E-tegra, an abdominal aortic aneurysms stent graft system for the endovascular treatment. Further, the company offers vascular preservation services; and synthetic vascular grafts for use in open aortic and peripheral vascular surgical procedures. The company serves physicians, hospitals, and other healthcare industries, as well as cardiac, vascular, thoracic, and general surgeons. CryoLife, Inc. was founded in 1984 and is headquartered in Kennesaw, Georgia.

The severe limits of the tradeoff proposition deny much of any reasoning to answer the question of WHY we see what we do. To probe that exploration further, we offer some history of what has been seen in the market movements of many of these securities when tradeoffs similar to todays have been seen in the past 5 years. Please consider Figure 2.

Figure 2

The vertical lines in this picture are not actual

past

market prices like those seen in "technical analysis charts". Instead they are

forecasts

of likely future ranges of market stock prices implied as probable in coming weeks and near months. The heavy dot in each vertical is the market close price on the day of the forecast. It splits the forecast range into upside and downside price change prospects.

The imbalances between up and down potentials are what is useful in estimating both coming price direction and extent of change. Their proportions are measured by the Range Index [RI]. Its value is the percentage of the whole forecast range which lies below the current market quote. A 20 RI has 4 times as much upside prospect as down. A 33 RI has only 2 times as much upside potential as downside.

Segregating past MM implied forecasts by their RIs produces clues to how market prices have reacted to the conditions seen by the MM community at various points in time. We use a 5-year sliding window to count how many prior forecasts (the sample size) have been like the current Range Index.

Figure 3

The essence of valuation is in comparison, which requires that the compared measures be as close to identical as possible. To that end we place all of our valuations in a carefully defined set of measures, and describe them in as parallel set of comparisons as is possible.

To do so often presents what many readers recognize as text and ideas they have encountered before, as they have in our just-published comparison between Microsoft and Boeing. The use of the heading for this section of the article as an accelerant to reading provides for experienced readers an economy of time and effort, while leaving for the newly-initiated the opportunity for an important introduction.

What is important to us in this analysis is how big a price gain is in prospect, column [E], and how likely is today's RI forecast to produce a profit [H] as a proportion of the [L] sample of such forecasts. That combination result appears in the [ I ] %payoff which includes loser forecasts as well as the 82% winners. The size of [ I ] relative to [E] is a measure of [E]'s credibility in [N].

Time required [J] to accomplish the payoff is another important dimension for any investment mission. The retirement, tuition, or health emergency clock won't patiently wait for "long-term-trend" investments to be "sure" (like EK, GM, GE, others) of their "passive investment" buy&hold strategy results. Compound Annual Gain Rates [CAGR] are the essential measures [K]. Figure 3's rows are ranked by the historical results (of today's RI) statistic.

One additional complication of being time-efficient in an investment strategy is that the score-keeping can't be easily sliced up into uniform time periods. That is not what happens to holdings in an active investment strategy. Gains (and losses) occur in irregular lumps of time, and we need to evaluate likely prospects in the way they may be accumulated.

What is done in proper financial analysis of any capital commitment is to anticipate the RATE of gain or cost in units of change per time of involvement. The most commonly used measure is basis points per day, where a basis point is 1/100th of a percent.

That's a tiny unit, but is what works best. Put together and maintained each day for a year, 19 of them would double your investment. They can be powerful.

In Figure 3 we use the Odds of gain [H] as a weight for the average prior payoffs [ I ], and take the complement of [H] ( 100 - H ) as a weight for the risk prospect [F]. Put together as [O] + [P] in [Q] we have an odds-weighted net outcome of each row's prior MM RI forecast sample [L]. Then by converting those [Q] nets into bp/day in [R] we have a guide to making investment selection decisions across a broader array of alternatives.

Using [R] as an integrated measure of wealth-building desirability places CRY in first place by a wide margin among other Medical Supply & Equipment stocks. Its 33.1 bp/day score is half again what the second-place candidate, EW, produces.

Part of CRY's appeal comes from its high Realized Payoffs from prior forecasts at the low level of Range Index at 5. Winning 26 out of the 29 of those put its gain average at 17.9%, only a bit below its current implied upside of +19.8%. When that Win Odds ratio of 90 is applied to the realizations, and the Loss odds complement of 10 is applied to the drawdown maximum average of -5.6, the weighted net of +15.6% is almost double that of EW, at +8.3%.

CRY competes effectively in the broad population of MM forecasts for 2691 stocks, ETFs and market indexes. It outpaces the average best-20 average of that large set of securities which scores 23.8 bp/day. When examined outside this article, only a few top-ranked stocks appear to be more desirable, none of which are from the Medical/Healthcare group.

CryoLife, Inc. is an attractive near-term capital-gain buy with a realistic +16% upside target attainable in as little time as two-plus months.

I/we have no positions in any stocks mentioned, but may initiate a long position in CRY over the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure:

Disclaimer: Peter Way and generations of the Way Family are long-term providers of perspective information, earlier helping professional investors and now individual investors, discriminate between wealth-building opportunities in individual stocks and ETFs. We do not manage money for others outside of the family but do provide pro bono consulting for a limited number of not-for-profit organizations.

We firmly believe investors need to maintain skin in their game by actively initiating commitment choices of capital and time investments in their personal portfolios. So, our information presents for D-I-Y investor guidance what the arguably best-informed professional investors are thinking. Their insights, revealed through their own self-protective hedging actions, tell what they believe is most likely to happen to the prices of specific issues in coming weeks and months. Evidences of how such prior forecasts have worked out are routinely provided in the SA blog of my name.