Colfax Corporation CFX, through its wholly-owned subsidiary DJO, LLC, recently completed the acquisition of extremity product lines from Stryker Corporation SYK. The announcement, made by DJO yesterday, is welcoming as it marks Colfax’s entry into the foot and ankle market.The above-mentioned acquisition has been valued at $15 million.Remarkably, Stryker is a well-known global medical technology company. It provides medical and surgical equipments, products related to orthopaedics and spice, and those used in neurotechnology.Inside the HeadlinesThe buyout comprises Stryker’s products related to finger arthroplasty — including TACTYS and Silicone, Surface Replacement (“SR”) — and total ankle replacement system — Scandinavian Total Ankle Replacement (“STAR”).The company expects that the addition of Stryker’s products to its portfolio will expand DJO’s reconstructive product offerings. In the initial year of the buyout, revenues to the tune of $20 million are anticipated from the acquired product lines.Colfax’s DJO is a specialist in making and providing medical devices that are effective answers to pain management, joint reconstruction, musculoskeletal health and vascular health.DJO’s operations are represented under Colfax’s Medical Technology segment. In third-quarter 2020, this segment’s organic sales inched up 1% year over year on improving clinic activities, recovery in elective surgeries, and strength in general and sports activities.Zacks Rank, Estimate Trend and Price PerformanceWith a market capitalization of $4 billion, Colfax currently carries a Zacks Rank #3 (Hold). Its solid product offerings, synergistic gains from acquired assets and innovation capabilities boost the company’s prospects. However, uncertainties related to the pandemic, forex woes and lower selling days might pose concerns in the fourth quarter.In the past 30 days, the company’s earnings estimates have moved 1.5% north to $1.37 for 2020 and 2.5% to $2.03FOR 2021. However, the same for the fourth quarter has moved 2% south to 49 cents.Colfax Corporation Price and Consensus Colfax Corporation price-consensus-chart | Colfax Corporation QuoteIn the past three months, the company’s shares have decreased 6.3% compared with the industry’s growth of 8.8%.Stocks to ConsiderTwo better-ranked stocks in the industry are Altra Industrial Motion Corp. AIMC and EnPro Industries, Inc. NPO. Both companies currently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.In the past 30 days, the current-year earnings estimates for both companies have moved north. Further, the earnings surprise for the last reported quarter was 77.55% for Altra Industrial and 109.38% for EnPro Industries.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot stocks we're targeting >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Stryker Corporation (SYK): Free Stock Analysis Report Colfax Corporation (CFX): Free Stock Analysis Report EnPro Industries (NPO): Free Stock Analysis Report Altra Industrial Motion Corp. (AIMC): Free Stock Analysis Report To read this article on Zacks.com click here.