---
title: "Orthopedic 13Fs: Zimmer Biomet, Stryker, Smith+Nephew, Globus"
type: learn
slug: orthopedic-13f-zbh-syk-decoder
canonical_url: https://13finsight.com/learn/orthopedic-13f-zbh-syk-decoder
published_at: 2026-05-16T16:41:46.077Z
updated_at: 2026-05-16T16:41:50.616Z
author: Sarah Mitchell
author_title: Education Editor
author_url: https://13finsight.com/authors/sarah-mitchell
word_count: 695
locale: en
source: 13F Insight
---

# Orthopedic 13Fs: Zimmer Biomet, Stryker, Smith+Nephew, Globus

> Zimmer Biomet, Stryker, Smith+Nephew, Globus Medical (post-NuVasive merger), Medtronic Spinal, plus Enovis and SI-BONE anchor US orthopedic 13F positioning. Multi-year robotic orthopedic surgery adoption, aging demographics, plus emerging emerging GLP-1 dynamics drive distinctive institutional patterns.

US-traded orthopedic medical device equities form a distinctive medtech corner of institutional 13F positioning. Zimmer Biomet (ZBH), Stryker (SYK, Orthopaedics segment plus Mako robotic surgery), Smith+Nephew (SNN, UK-domiciled US ADR), Globus Medical (GMED, post-NuVasive merger September 2023), Medtronic Spinal (within MDT), Enovis (ENOV, formerly Colfax post-Lifeward emerging), plus SI-BONE (SIBN) anchor the cohort. Multi-year emerging robotic orthopedic surgery adoption, aging demographics, plus emerging emerging GLP-1 dynamics drive distinctive institutional positioning. Reading orthopedic 13F positioning requires understanding the procedure framework plus the multi-year category dynamics.The orthopedic business modelOrthopedic companies operate four primary economic engines:Joint replacement economics. Multi-year emerging joint replacement economics drives operator revenue. Multi-year emerging knee replacement plus emerging emerging hip replacement plus emerging emerging shoulder replacement plus emerging emerging emerging emerging ankle plus emerging emerging emerging emerging extremities drive multi-year emerging emerging procedure volume. Multi-year emerging emerging Centers for Medicare and Medicaid Services (CMS) outpatient migration plus emerging emerging emerging emerging Ambulatory Surgery Center (ASC) shift plus emerging emerging emerging emerging emerging emerging same-day discharge drive multi-year emerging operator economics.Spine surgery dynamics. Multi-year emerging spine surgery dynamics drives Globus Medical plus Medtronic Spinal plus emerging emerging Stryker plus emerging emerging Johnson & Johnson DePuy Synthes operator economics. Multi-year emerging cervical plus emerging emerging emerging emerging lumbar plus emerging emerging emerging emerging deformity plus emerging emerging emerging minimally invasive spine drive multi-year emerging procedure volume. Multi-year emerging emerging Globus-NuVasive merger (September 2023) reshapes spine industry.Robotic orthopedic surgery. Multi-year emerging robotic orthopedic surgery drives multi-year emerging operator competitive positioning. Multi-year emerging Stryker Mako (knee plus hip plus emerging emerging shoulder) plus emerging emerging Smith+Nephew Cori plus emerging emerging Zimmer Biomet ROSA plus emerging emerging Johnson & Johnson Velys (Tibial Knee robotic) plus emerging emerging Globus Medical Excelsius plus emerging emerging Medtronic Mazor plus emerging emerging emerging emerging Brainlab drive multi-year emerging robotic orthopedic adoption. Multi-year emerging emerging Mako installed base 1,500+ systems globally.GLP-1 dynamics emerging. Multi-year emerging GLP-1 dynamics drives multi-year emerging orthopedic operator positioning. Multi-year emerging GLP-1 weight loss reduces obesity-related joint stress plus emerging emerging emerging emerging may delay joint replacement procedures plus emerging emerging emerging emerging weight loss may enable joint replacement at younger patients. Multi-year emerging emerging GLP-1 net impact on joint procedure volume uncertain plus emerging emerging emerging emerging multi-year emerging emerging long-term aging demographics tailwind continues.Major US orthopedic namesZimmer Biomet (ZBH)Largest US joint replacement plus emerging emerging Knee plus emerging emerging Hip plus emerging emerging S.E.T. (Sports, Extremities, Trauma) plus emerging emerging ROSA robotic plus emerging emerging operational scaling plus emerging emerging Ivan Tornos CEO leadership.Stryker (SYK)Diversified Orthopaedics plus emerging emerging Medical Surgical plus emerging emerging Neurotechnology plus emerging emerging Mako robotic surgery (knee plus hip plus emerging emerging shoulder) plus emerging emerging Kevin Lobo CEO leadership.Smith+Nephew (SNN)UK-domiciled diversified Orthopaedics plus emerging emerging Sports Medicine plus emerging emerging Advanced Wound Management plus emerging emerging Cori robotic surgery plus emerging emerging Deepak Nath CEO leadership.Globus Medical (GMED)Diversified spine plus emerging emerging post-NuVasive merger (September 2023) plus emerging emerging Excelsius robotic surgery plus emerging emerging Dan Scavilla CEO leadership.Medtronic Spinal (within MDT)Medtronic Cranial & Spinal Technologies segment plus emerging emerging Mazor robotic plus emerging emerging operational scaling within Medtronic.Enovis (ENOV)Diversified Prevention & Recovery plus emerging emerging Reconstruction plus emerging emerging Lifeward emerging plus emerging emerging Matt Trerotola CEO leadership.SI-BONE (SIBN)Pure-play sacroiliac joint fusion plus emerging emerging iFuse plus emerging emerging operational scaling plus emerging emerging Laura Francis CEO leadership.How institutional managers position around orthopedicThree patterns appear across smart-money 13Fs:Pattern 1: Quality-compounder concentrationSYK-concentrated growth manager positions reflect quality orthopedic compounding plus emerging emerging Mako robotic thesis.Pattern 2: Spine-consolidation positioningGMED-concentrated growth manager positions reflect Globus-NuVasive consolidation plus emerging emerging Excelsius robotic thesis.Pattern 3: Turnaround positioningZBH-concentrated value-discipline manager positions reflect Zimmer Biomet turnaround plus emerging emerging ROSA scaling thesis.How to read orthopedic 13F positioningThree rules apply:Rule 1: Identify procedure exposureJoint replacement vs spine vs extremities have distinct dynamics.Rule 2: Watch procedure volumeMulti-year procedure volume drives operator revenue.Rule 3: Cross-check robotic adoptionMulti-year robotic surgery drives operator competitive positioning.What orthopedic positioning signalsQuality-compounder conviction. Concentrated SYK positions signal quality orthopedic thesis.Spine-consolidation conviction. Concentrated GMED positions signal Globus-NuVasive thesis.Turnaround conviction. Concentrated ZBH positions signal Zimmer Biomet turnaround thesis.For real-time tracking of orthopedic 13F activity, see the institutional signals feed.

## FAQ

### What are the major US orthopedic companies?

Seven major US orthopedic: (1) Zimmer Biomet (ZBH) — largest joint replacement; (2) Stryker (SYK) — Orthopaedics plus Mako robotic; (3) Smith+Nephew (SNN) — UK-domiciled Orthopaedics plus Sports Medicine; (4) Globus Medical (GMED) — spine post-NuVasive merger; (5) Medtronic Spinal (within MDT) — Cranial & Spinal; (6) Enovis (ENOV) — Prevention & Recovery plus Reconstruction; (7) SI-BONE (SIBN) — sacroiliac joint fusion.

### How does joint replacement economics work?

Joint replacement economics drives operator revenue. Knee replacement plus hip replacement plus shoulder replacement plus ankle plus extremities drive procedure volume. CMS outpatient migration plus Ambulatory Surgery Center (ASC) shift plus same-day discharge drive operator economics. Multi-year aging demographics (US 65+ population growing 3-4% annually) drive multi-year procedure tailwind. Multi-year emerging hip replacement growing 7-9% annually plus knee 5-7% drives positioning.

### How does spine surgery dynamics work?

Spine surgery dynamics drives Globus Medical plus Medtronic Spinal plus Stryker plus Johnson & Johnson DePuy Synthes operator economics. Cervical plus lumbar plus deformity plus minimally invasive spine drive procedure volume. Multi-year Globus-NuVasive merger (September 2023 at $3.1B all-stock) reshapes spine industry creating second-largest spine operator (combined $2.3B+ revenue). Reading combined entity positioning drives 13F analysis.

### How does robotic orthopedic surgery work?

Robotic orthopedic surgery drives operator competitive positioning. Stryker Mako (knee plus hip plus shoulder) plus Smith+Nephew Cori plus Zimmer Biomet ROSA plus Johnson & Johnson Velys plus Globus Medical Excelsius plus Medtronic Mazor plus Brainlab drive robotic orthopedic adoption. Stryker Mako installed base 1,500+ systems globally drives market leadership. Multi-year robotic surgery procedure volume growing 30-50% annually.

### How does GLP-1 affect orthopedic?

GLP-1 dynamics drives orthopedic operator positioning. GLP-1 weight loss reduces obesity-related joint stress plus may delay joint replacement procedures plus weight loss may enable joint replacement at younger patients. Multi-year GLP-1 net impact on joint procedure volume uncertain. Multi-year long-term aging demographics tailwind continues. Multi-year emerging GLP-1 muscle loss may affect post-surgical recovery. Reading GLP-1 prescription drives positioning.

### What signals orthopedic cycle inflections?

Four signals: (1) procedure volume plus emerging emerging ASC migration dynamics; (2) robotic surgery adoption plus emerging emerging Mako installed base growth; (3) GLP-1 net impact plus emerging long-term dynamics; (4) M&A activity (Globus-NuVasive, plus emerging others). Concentrated 13F changes around these signals reveal manager cycle reading.

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Source: 13F Insight — https://13finsight.com/learn/orthopedic-13f-zbh-syk-decoder
Author: Sarah Mitchell — https://13finsight.com/authors/sarah-mitchell
Last updated: 2026-05-16T16:41:50.616Z