A U.S. federal judge in Florida ruled that the Obama health care bill is unconstitutional Monday. Health care stocks experienced a mini rally following the ruling, and the Morgan Stanley health care index closed 0.6% higher.

One of my top stock picks in the sector is Edwards Lifesciences (NYSE:

EW). EW is an impressive medical appliances and equipment company that specializes in manufacturing products that treat cardiac diseases. It is the world’s largest creator of artificial heart valves, including valves made from animal tissue, and annuloplasty rings that repair damaged valves. Other major products include heart monitoring systems, various types of surgical tubes, and catheters.

EW is the exact kind of company we want to own right now because it has exposure to fast-growing economies overseas. EW markets its products worldwide through a direct sales force and distributors. Its innovative Edwards INTUITY valve system will launch in Europe in the second half of 2011, and it’s launching several expansion efforts this year.

The company also recently announced that it is looking into acquiring technology and small heart device companies — perhaps in strategic global locations. Edwards recently forecast 11% to 15% annual sales growth for 2011, and that should prove to be a conservative estimate.

Fourth-quarter earnings will be released in a few weeks, so we’re getting in at the right time. The analyst community is expecting just 11% annual sales growth and 26% earnings growth, which equals 53 cents per share. Analysts tend to underestimate EW, so I expect Edwards Lifesciences to post some big earnings surprises in the upcoming quarters.

Buy this conservative health care stock under $90.