Cano Health Inc. [CANO] Revenue clocked in at $393.20 million, down -16.41% YTD: What’s Next?

Cano Health Inc. [NYSE: CANO] price surged by 4.18 percent to reach at $0.45. The company report on September 23, 2021 that Cano Health, Inc. Announces Pricing of Private Offering of $300 Million of Senior Notes.

Cano Health, Inc. (“Cano Health”) (NYSE: CANO) announced that its subsidiary, Cano Health, LLC (the “Issuer”), priced its offering of $300.0 million aggregate principal amount of 6.250% senior notes due 2028 (the “Notes”). The Notes will bear interest at 6.250% per annum and mature on October 1, 2028. The Notes will be fully and unconditionally guaranteed on an unsecured senior basis by Primary Care (ITC) Intermediate Holdings, LLC, the Issuer’s direct parent company, and each of the Issuer’s existing and future, direct and indirect wholly-owned domestic subsidiaries that is a borrower or guarantor under the Issuer’s senior secured credit facility. The offering is expected to close on September 30, 2021, subject to customary closing conditions.

The Issuer intends to use the net proceeds from the offering to repay in full the $250.0 million unsecured bridge term loan outstanding under its bridge loan agreement, to pay related fees and expenses, and the remainder for general corporate purposes.

A sum of 6229803 shares traded at recent session while its average daily volume was at 3.82M shares. Cano Health Inc. shares reached a high of $11.285 and dropped to a low of $10.36 until finishing in the latest session at $11.21.

The average equity rating for CANO stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Cano Health Inc. [CANO]:

Wolfe Research have made an estimate for Cano Health Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 01, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on September 21, 2021, representing the official price target for Cano Health Inc. stock. Previously, the target price had yet another raise to $18, while Cowen analysts kept a Outperform rating on CANO stock.

The Average True Range (ATR) for Cano Health Inc. is set at 0.88, with the Price to Sales ratio for CANO stock in the period of the last 12 months amounting to 14.77. The Price to Book ratio for the last quarter was 1.74, with the Price to Cash per share for the same quarter was set at 0.00.

CANO Stock Performance Analysis:

Cano Health Inc. [CANO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.38. With this latest performance, CANO shares dropped by -18.83% in over the last four-week period, additionally sinking by -16.78% over the last 6 months – not to mention a rise of 9.90% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CANO stock in for the last two-week period is set at 36.27, with the RSI for the last a single of trading hit 30.61, and the three-weeks RSI is set at 40.60 for Cano Health Inc. [CANO]. The present Moving Average for the last 50 days of trading for this stock 12.44, while it was recorded at 11.57 for the last single week of trading, and 13.20 for the last 200 days.

Insight into Cano Health Inc. Fundamentals:

Return on Total Capital for CANO is now -1.99, given the latest momentum, and Return on Invested Capital for the company is -10.05. Return on Equity for this stock declined to -10.05, with Return on Assets sitting at -8.35.

Reflecting on the efficiency of the workforce at the company, Cano Health Inc. [CANO] managed to generate an average of -$46,580 per employee.Cano Health Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

Cano Health Inc. [CANO] Insider Position Details

There are presently around $1,588 million, or 91.80% of CANO stock, in the hands of institutional investors. The top three institutional holders of CANO stocks are: FMR LLC with ownership of 36,233,690, which is approximately 320.13% of the company’s market cap and around 2.20% of the total institutional ownership; THIRD POINT LLC, holding 11,084,192 shares of the stock with an approximate value of $124.25 million in CANO stocks shares; and ARROWMARK COLORADO HOLDINGS LLC, currently with $123.8 million in CANO stock with ownership of nearly -0.419% of the company’s market capitalization.

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Positions in Cano Health Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 71 institutional holders increased their position in Cano Health Inc. [NYSE:CANO] by around 84,308,200 shares. Additionally, 28 investors decreased positions by around 4,922,148 shares, while 12 investors held positions by with 52,422,027 shares. The mentioned changes placed institutional holdings at 141,652,375 shares, according to the latest SEC report filing. CANO stock had 40 new institutional investments in for a total of 29,330,714 shares, while 14 institutional investors sold positions of 2,570,510 shares during the same period.

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