Cano Health, Inc. (NYSE:CANO – Get Rating)'s stock price fell 5.8% during trading on Wednesday . The stock traded as low as $1.36 and last traded at $1.38. 139,896 shares changed hands during trading, a decline of 99% from the average session volume of 12,025,052 shares. The stock had previously closed at $1.46.
Wall Street Analyst Weigh In
Several research firms have recently commented on CANO. Cowen downgraded shares of Cano Health from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $10.00 to $3.00 in a research report on Thursday, November 10th. Bank of America restated an "underperform" rating and set a $1.50 price target on shares of Cano Health in a report on Tuesday, December 13th. Cowen cut shares of Cano Health from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $10.00 to $3.00 in a report on Thursday, November 10th. UBS Group cut shares of Cano Health from a "buy" rating to a "neutral" rating and cut their price target for the stock from $12.00 to $1.25 in a report on Friday, January 6th. Finally, Wolfe Research cut shares of Cano Health from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $4.08.
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Cano Health Trading Down 0.7 %
The company has a debt-to-equity ratio of 1.17, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market capitalization of $662.61 million, a PE ratio of -3.53 and a beta of 0.15. The stock's 50 day simple moving average is $1.47 and its two-hundred day simple moving average is $4.45.
Cano Health (NYSE:CANO – Get Rating) last released its earnings results on Wednesday, November 9th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. The firm had revenue of $665.03 million for the quarter, compared to analysts' expectations of $712.06 million. Cano Health had a negative net
margin of 2.28% and a negative return on equity of 4.50%. On average, sell-side analysts expect that Cano Health, Inc. will post -0.22 EPS for the current year.
Institutional Trading of Cano Health
A number of institutional investors have recently modified their holdings of CANO. Samlyn Capital LLC lifted its stake in shares of Cano Health by 71.1% during the 2nd quarter. Samlyn Capital LLC now owns 10,008,009 shares of the company's stock valued at $43,835,000 after buying an additional 4,158,489 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Cano Health by 133.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,504,486 shares of the company's stock valued at $24,109,000 after buying an additional 3,149,952 shares in the last quarter. State Street Corp lifted its stake in shares of Cano Health by 215.1% during the 2nd quarter. State Street Corp now owns 3,359,294 shares of the company's stock valued at $14,714,000 after buying an additional 2,293,310 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Cano Health by 8,402.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,913,048 shares of the company's stock valued at $16,586,000 after buying an additional 1,890,548 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Cano Health by 3.8% during the 2nd quarter. FMR LLC now owns 31,162,099 shares of the company's stock valued at $136,490,000 after buying an additional 1,148,380 shares in the last quarter. 25.56% of the stock is currently owned by hedge funds and other institutional investors.
Cano Health Company Profile
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Cano Health, Inc provides primary care medical services to its members in the United States and Puerto Rico. It owns and operates medical centers enabled by CanoPanorama, a proprietary population health management technology-powered platform that provides the healthcare providers at its medical centers with a 360-degree view of their members with actionable insights to improve care decisions and member engagement.
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