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We're going to move right into the Top 40 defensemen, following the Top 20 defensemen that you can read here.  Let's get right into it! 21) Shea Theodore - This tier started with Montour in the top 20 and finishes with Theodore.  If I was coaching Vegas, Theodore would be ranked much higher because he would never leave the first power play unit.  He's clearly better than Pietrangelo and Hanifin, but to close the season, Hanifin was on the first unit.  Theodore is risky because of that, but he's coming off 42 points in 47 games.  It's hard to keep him any lower than this.
A rare cold patch left Sam Reinhart sitting on 39 goals for almost three weeks.  On Thursday, he reached the 40 goal mark for the first time in his career, and found another to get back to second in the league in goals.  Reinhart scored two goals, one on the power play and one shorthanded, while also adding an assist with five shots in the 4-3 SO win over the Canadiens.  Is this season sustainable for Reinhart?  Definitely not while he's shooting over 25%.  That said, he's in the perfect situation to be a point per game player going forward, assuming he stays in Florida.  It seems likely he stays in free agency, but you never know if someone takes top dollar.  Regardless, Reinhart certainly won't be in my top 20 next season like he is so far this year, but I expect him to be around 50th overall for me if he stays.  He can counteract the crazy shooting percentage a bit by getting back to his usual shot rate, and Reino should remain elite on the power play.  Let's take a look at what else happened over the last two nights:
There was a lot of craziness around the NHL on President's Day, but nothing topped the game in Minnesota.  At one point late in the second period, the Canucks looked in complete control up 5-2.  Two minutes and seventeen seconds of game time later, Minnesota was up 6-5.  And if that wasn't enough, there were still six more goals!  The Wild beat the Canucks 10-7, and to wash it down, they played a paltry 6-3 game on Tuesday, a loss to the Jets.  Nothing like 13-13 aggregate over two nights.  On Monday, it was all of the stars for the Wild, as those four goals in a 2:17 span were all on the power play, three of which were 5 on 3.  Joel Eriksson Ek and Kirill Kaprizov had three goals and three assists... each!  Mats Zuccarello and Matt Boldy had a goal and three assists... each!  On Tuesday, Kaprizov had a goal and an assist, while Marco Rossi had two goals on five shots.  Both goalies were shelled, and right now, it's hard to trust either of them.  For the moment, the Wild look like a four star team, Faber is a clear hold, and Brodin is on the fringe.  Rossi is a solid streamer, and gamble if you'd like on their goalies.  Let's take a look at what else happened over the last two nights:
We know that Jack Hughes has dominated the first three weeks of the season, but his older brother has started off extremely well, while his teammate and younger brother is starting to get going as well.  Let's start with Quinn Hughes.  On Friday, Hughes scored two goals on four shots, adding two PIM.  Against the Rangers, he had three shots on goal, which sounds disappointing, but it illustrates a large change in Quinn's game.  The one thing that has been holding Quinn back for years in terms of fantasy value is his shot rate.  This was his sixth straight game with 3+ shots, and 7th in eight total games.  It signifies a huge chance in his game, one that does fantasy owners wonders.  He has eight points in eight games and certainly can come close to repeating last season's 76 points in 78 games, if not topping it.  He was always an elite #2 with flaws, but now, he's a #1.  Sure, the hits are dreadful, but everything else is magical.
Another star player has made his way to the Eastern Conference well ahead of the trade deadline.  We already had Horvat and Tarasenko move, and now we have a former Conn Smythe winner.  Ryan O'Reilly was traded to the Toronto Maple Leafs, along with Noel Acciari, for a bevy of draft picks.  The Wild also acquired a pick for retaining salary, and there were prospects involved, but none of them are particularly relevant.  For fantasy, we care about RoR and Acciari.  Let's start with Acciari because it's easier.  Acciari moved right onto Toronto's fourth line.  He scored a goal against the Blackhawks on Sunday, and is piling up hits.  He'll be a deep league value for his hits and decent goal rate.  O'Reilly is an interesting debate.  He's easily having the worst offensive season in the last decade.  On the other hand, RoR has been playing much better lately, and he went right onto the second line with Tavares and Marner.  He dished an assist in his debut on Saturday playing just over 16 minutes in the 5-1 blowout against Montreal.  He also won 12 of 14 draws, which is notable that he bumped Tavares from the faceoff circle most of the time.  I'm not rushing to pick up RoR, mostly because we know that he's not cracking Toronto's first power play unit.  That said, there's upside in Toronto that he couldn't touch in St. Louis again.  If you want to stream him on Tuesday against the Sabres and see where it goes, I can get behind that.  
Not a bad way for Kevin Fiala to follow up a hat trick.  In a new rivalry developing between the Kings and Oilers, Fiala scored two goals and two assists with four shots.  That brings Fiala to 10 points in his last five games with his shot rate jumping up quite a bit lately.  The new line shuffle seems to be working, and the new Los Angeles All-Star has been fantastic in his first year with the Kings.  It's a fantastic stat line across the board that has Fiala comfortably as a top 50 player with upside from there.  Let's take a look at what else happened over the last two nights:
Dallas locked up the last part of their core on Tuesday, signing Roope Hintz to an eight year contract extension.  Even being in the midst of a three game pointless streak, Hintz remains over a point per game and based on game score, he's a top ten forward in the league to this point of the season.  I don't expect him to maintain that pace, but his line is right there for the crown of best in the NHL.  Fantasy wise, I'd like to see the shot rate uptick 10-20%, but even with where he is, Hintz is a solid piece towards the top end of your roster.  If DeBoer played him 20+ minutes like he should instead of 17 per game, the numbers would be even better.  Congrats to Hintz for securing the bag!  Let's see what happened over the last two nights:
Remember when the Devils fans were chanting "Fire Lindy" two games into the season?  My, how the tides have turned.  The Devils have won 13 of 14 since, including 10 in a row.  The most recent win was 5-1 against the Canadiens on Tuesday with their star players leading the way.  Jack Hughes scored twice on seven shots and added an assist in the victory.  Hughes now has multiple points in six of his last ten games, and is pushing 4.5 shots on goal per game.  Even with a lack of penalty minutes, that's enough to be the top 20 player that I ranked him as before the season.  The future is incredibly bright in New Jersey with two elite defensemen prospects coming to support the excellent foundation in place.  Let's take a look at what else happened over the last two nights:
What's poppin, Razzpimples? Ya boi JKJ is back for another year of fantasy hockey content here at Razzball! Going a different route this time around, though. I'm gonna be your D daddy! No, no, not that kind of D, ya silly goose! Defenders. All the defenders. I don't exactly know why, but I've taken a real liking to that position. If you're familiar with my baseball work, I handle all the RP business. Taken a liking to relievers in baseball, and in hockey it's the defenders.
We move through more defensemen today going through my Top 40.  For those that didn't see my Top 20, you can check that out here.  I have some good news before I get going with these rankings.  JKJ is going to be back!  He's going to shift his focus this season towards defensemen, similar to what he does on the baseball side of things with relief pitchers.  Look for him to be writing again in the near future, with a rebuttal to my defenseman rankings the first thing coming.  And now, let's get to it!