Stone Energy Rising on Interest Payment
Stone Energy Corporation (NYSE:SGY) shares have rallied by 14% after the company announced that it will make $29 million in interest payments on senior notes maturing in 2022. The payment will put Stone Energy in compliance with its obligations under the indenture. In addition, Stone Energy made a second borrowing base deficiency payment of approximately $29.2 million on June 13. Stone Energy continues to assess its restructuring options. 15 funds tracked by Insider Monkey owned shares of Stone Energy Corporation (NYSE:SGY) at the end of the first quarter, unchanged from the end of December.
Mesoblast Drops After Partner Backs Out
Mesoblast limited (ADR) (NASDAQ:MESO) received some bad news after former developmental partner Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) returned the rights of an investigational drug, MPC-150-IM, back to Mesoblast. MPC-150-IM is in Phase 3 clinical trials for the potential treatment of chronic heart failure. Mesoblast limited (ADR) (NASDAQ:MESO) shares are off by 38% today on the news. Of the 766 active funds in our database, none of them owned shares of the company at the end of the first quarter.
Zimmer Biomet Prices Offering
Zimmer Biomet Holdings Inc (NYSE:ZBH) is 1.5% in the red after pricing a secondary offering of slightly over 11 million shares by certain stockholders, at $115.85 per share. Zimmer Biomet will not receive any proceeds from the sale. Shares of the company have done well year-to-date, rallying by around 15% since January 1. The stock trades at a forward P/E of 13.5. 45 funds in our database owned $1.26 billion worth of Zimmer Biomet Holdings Inc (NYSE:ZBH) shares on March 31, up from 37 funds with holdings valued at $991.9 million on December 31.