Colfax Corporation’s CFX business unit, DJO, LLC recently completed the buyout of LiteCure. However, the financial terms of the transactions were kept under wraps.Notably, Colfax’s shares declined 1.8% on Friday to eventually close the trading session at $37.23.Inside the HeadlinesLiteCure is a leading provider of laser technology for treatment of human and animal health. The company’s advanced therapeutic laser technology facilitates the treatment of acute and chronic musculoskeletal conditions. Some of the company’s major brands are LightForce, Companion and Pegasus.LiteCure is believed to be a strategic fit for DJO. The buyout will create strong growth opportunities for DJO in the physical therapy and rehabilitation market. The inclusion of LiteCure’s solid expertise in medical therapy laser technologies will enable DJO’s Chattanooga brand to provide a comprehensive therapeutic solutions based on laser to its medical customers.The latest transaction is in sync with Colfax’s policy of acquiring businesses for expanding its business and product offerings. For instance, in November 2020, the company acquired some extremity product lines from Stryker Corporation SYK. This buyout is likely to expand Colfax’s reconstructive product offerings through its entry into the foot and ankle market.Zacks Rank, Price Performance and Estimate RevisionsColfax, with approximately $4.4 billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company is poised to gain from its focus on product innovation, a healthy business system and a solid business portfolio, going forward. However, uncertainties related to the coronavirus pandemic and headwinds arising from its international operations might affect its performance.The Zacks Consensus Estimate for the company’s earnings is pegged at $1.37 for 2020 and $2.04 for 2021, up 1.5% and 3% from the respective 60-day-ago figures.The company’s shares have gained 10.1% compared with 13.4% growth recorded by the industry in the past three months.Key PicksA couple of better-ranked stocks from the same space are Altra Industrial Motion Corp. AIMC and Applied Industrial Technologies, Inc. AIT. While Altra Industrial currently sports a Zacks Rank #1 (Strong Buy), Applied Industrial carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Altra Industrial delivered a positive earnings surprise of 50.07%, on average, in the trailing four quarters.Applied Industrial delivered a positive earnings surprise of 14.68%, on average, in the trailing four quarters.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>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 Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report Colfax Corporation (CFX): Free Stock Analysis Report Altra Industrial Motion Corp. (AIMC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research