CFX - CFX STOCK NEWS

Colfax Corporation (NYSE: CFX) announced the release date for its first-quarter financial results on April 29, 2021. The company will also hold a conference call at 8:00 a.m. Eastern to discuss these results, accessible via phone and webcast. Financial details and supplemental information will be available on its website prior to the conference. Colfax is a diversified technology company known for its orthopedic and fabrication technologies, primarily under the DJO and ESAB brands.

DJO, a subsidiary of Colfax Corporation (NYSE:CFX), has announced a strategic investment in Insight Medical Systems, specializing in wearable surgical navigation technologies. The key product, ARVIS®, is designed to enhance precision in total joint arthroplasties, featuring 3D displays and handsfree interfaces. The Computer Assisted Surgery (CAS) market is projected to grow at a CAGR of 32%, driven by a shift to Ambulatory Surgery Centers (ASCs). The ARVIS system aims to optimize surgical workflows, reduce costs, and is expected to launch in the latter half of the year, pending FDA clearance.

Colfax Corporation (NYSE: CFX) announced its intent to redeem $600 million of its 6.000% Senior Notes due 2024 and $100 million of its 6.375% Senior Notes due 2026 on April 24, 2021. The 2024 Notes will be redeemed at 103% of their principal value, while the 2026 Notes will be redeemed at 106.375% plus accrued interest. Following the redemption, interest on these notes will cease. Colfax has directed Wilmington Trust to inform registered holders about the redemption, and payment will be made through the paying agent.

Colfax Corporation (NYSE: CFX) has priced an underwritten public offering of 14 million shares of common stock at $46.00 per share, with an option for underwriters to purchase an additional 2.1 million shares. Estimated net proceeds from the offering are approximately $618.4 million, or $711.3 million if the option is fully exercised. The funds will be used for working capital and other corporate purposes, including capital expenditures and debt repayment. The shares are expected to be delivered on March 19, 2021.

Colfax Corporation (NYSE: CFX) announced a public offering of 14,000,000 shares of its common stock, with a 30-day option for underwriters to purchase an additional 2,100,000 shares. The net proceeds will be used for working capital and general corporate purposes, including capital expenditures and debt repayment. This offering follows the filing of a shelf registration statement with the SEC on February 18, 2021. Goldman Sachs, Evercore ISI, Morgan Stanley, and UBS are the joint underwriters managing this offering.

Colfax Corporation (NYSE: CFX) has announced plans to separate its fabrication technology and specialty medical technology businesses into two independent, publicly-traded companies. This tax-free separation is expected to be completed by Q1 2022, aiming to enhance strategic focus and unlock value. The MedTech company, led by current CEO Matt Trerotola, anticipates generating approximately $1.4 billion in revenue for 2021, while the ESAB fabrication technology company expects about $2.2 billion. Each company will pursue tailored strategies for growth and shareholder value creation.

Colfax Corporation (NYSE: CFX) plans to separate its specialty medical technology and fabrication technology businesses into two independent companies. Targeting completion by Q1 2022, the separation aims to enhance strategic focus, operational flexibility, and value creation for shareholders. The MedTech company, expected to generate $1.4 billion in revenue in 2021, will focus on growth through acquisitions and R&D. The ESAB fabrication technology company, with projected revenue of approximately $2.2 billion, will continue to innovate and expand its market presence.

Colfax Corporation (NYSE: CFX) has appointed Philip Okala, COO of the University of Pennsylvania Health System, to its Board of Directors, expanding the board to eleven members. This move is expected to bolster Colfax’s medical technology business as Okala brings extensive healthcare leadership experience, having led strategic initiatives and expansions at Penn Medicine since 2017. With a strong background in healthcare management and successful growth strategies, Okala's insights are anticipated to aid Colfax in achieving its long-term growth objectives.

Colfax Corporation (NYSE: CFX) reported fourth-quarter 2020 results with net income from continuing operations of $41 million, or $0.29 per share, and adjusted earnings of $0.51 per share. Net sales reached $828 million, marking a 3% sequential increase but a 7% decline year-over-year. The company generated substantial cash flow with free cash flow at $96 million. Colfax recently acquired two medical technology firms, enhancing its presence in the high-growth segment. For 2021, revenue is projected to grow 15-18%, with adjusted earnings expected between $2.00 and $2.15 per diluted share.