Out of thousands of stocks that are currently traded on the market, it is difficult to determine those that can really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback the hedge funds employing these talents and can benefit from their vast resources and knowledge in that way. We analyze quarterly 13F filings of over 700 hedge funds and, by looking at the smart money sentiment that surrounds a stock, we can determine whether it has potential to beat the market over the long-term. Therefore, let’s take a closer look at what smart money thinks about Zimmer Biomet Holdings Inc (NYSE:ZBH).
Is Zimmer Biomet Holdings Inc (NYSE:ZBH) a buy here? Hedge funds are becoming less hopeful. The number of bullish hedge fund bets shrunk by 4 recently. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Hartford Financial Services Group Inc (NYSE:HIG), TELUS Corporation (USA) (NYSE:TU), and Fidelity National Information Services (NYSE:FIS) to gather more data points.
With all of this in mind, we’re going to check out the latest action surrounding Zimmer Biomet Holdings Inc (NYSE:ZBH).
Hedge fund activity in Zimmer Biomet Holdings Inc (NYSE:ZBH)
Heading into Q4, a total of 44 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -8% from one quarter earlier. With hedgies’ sentiment swirling, there exists a select group of key hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Visium Asset Management, managed by Jacob Gottlieb, holds the biggest position in Zimmer Biomet Holdings Inc (NYSE:ZBH). Visium Asset Management has a $76.5 million position in the stock, comprising 1% of its 13F portfolio. The second most bullish fund manager is Levin Capital Strategies, led by John A. Levin, holding a $75.6 million position; 1.3% of its 13F portfolio is allocated to the stock. Some other peers that hold long positions include D E Shaw, John Overdeck and David Siegel’s Two Sigma Advisors and David Harding’s Winton Capital Management.