Colfax Corporation’s ( CFX Quick Quote CFX - Free Report) business unit — DJO, LLC — recently completed the buyout of Trilliant Surgical. However, the financial terms of the transaction were kept under wraps. Notably, Colfax’s shares were up 1.3% yesterday to eventually close the trading session at $40.11. Inside the Headlines
Based in Houston, TX, Trilliant Surgical is an orthopedic foot and ankle implant provider. The company offers more than 15 product lines, of which many products are patented. It is well recognised for providing the novel Arsenal Foot Plating System.
Trilliant Surgical is believed to be a strategic fit for DJO. Its market leading brands and strong innovation capabilities will enable DJO to offer comprehensive foot and ankle solutions to a broad customer base. Notably, the Trilliant Surgical’s buyout is anticipated to augment DJO’s buyout of Scandinavian Total Ankle Replacement (STAR) system (November 2020). Notable Buyouts
Colfax believes in acquiring businesses for expanding its business and product offerings. For instance, along with the buyout of STAR system from
Stryker Corporation ( SYK Quick Quote SYK - Free Report) , DJO also acquired Stryker’s TACTYS and Silicone, Surface Replacement product line. This is likely to expand its reconstructive product offerings through its entry into the foot and ankle market. Further, in December 2020, the company closed the acquisition of LiteCure, which is likely to create strong growth opportunities for DJO in the physical therapy and rehabilitation market. Zacks Rank, Price Performance and Estimate Revisions
Colfax, with approximately $4.8 billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company is likely to benefit from its focus on product innovation, solid business portfolio and a healthy business system in the quarters ahead. However, uncertainties related to the coronavirus pandemic might affect its performance.
The Zacks Consensus Estimate for Colfax’s earnings is pegged at $1.38 for 2020, up 0.7% from the 60-day-ago figure. The company’s shares have gained 24.5% compared with 11.2% growth recorded by the industry in the past three months. Stocks to Consider
A couple of better-ranked stocks from the same space are
Graham Corporation ( GHM Quick Quote GHM - Free Report) and Dover Corporation ( DOV Quick Quote DOV - Free Report) . While Graham currently sports a Zacks Rank #1 (Strong Buy), Dover carries a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here Graham delivered a positive earnings surprise of 6.79%, on average, in the trailing four quarters. Dover delivered a positive earnings surprise of 18.1%, on average, in the trailing four quarters. Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time. See 8 breakthrough stocks now>>