Cano Health Inc. [CANO] moved down -6.08: Why It’s Important

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Cano Health Inc. [NYSE: CANO] stock went on a downward path that fall over -6.08% on Thursday, amounting to a one-week price decrease of less than -10.30%. The company report on January 3, 2022 that Cano Health to Participate in the 40th Annual J.P. Morgan Healthcare Conference.

Cano Health, Inc. (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced it will participate in the 40th Annual J.P. Morgan Healthcare Conference on Tuesday, January 11, 2022. Dr. Marlow Hernandez, Chairman and CEO, will present virtually at 10:30 a.m., Eastern Time.


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A live webcast will be accessible through Cano Health’s Investor Relations website at https://investors.canohealth.com/. The webcast will be archived for replay following the conference.

Over the last 12 months, CANO stock dropped by -48.03%. The one-year Cano Health Inc. stock forecast points to a potential upside of 53.75. The average equity rating for CANO stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.03 billion, with 170.87 million shares outstanding and 120.80 million shares in the current float. Compared to the average trading volume of 2.39M shares, CANO stock reached a trading volume of 3788938 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CANO shares is $17.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CANO stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Cano Health Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 20, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Neutral. The new note on the price target was released on October 19, 2021, representing the official price target for Cano Health Inc. stock. Previously, the target price had yet another raise to $19, while Wolfe Research analysts kept a Outperform rating on CANO stock.

The Average True Range (ATR) for Cano Health Inc. is set at 0.52, with the Price to Sales ratio for CANO stock in the period of the last 12 months amounting to 6.25. The Price to Book ratio for the last quarter was 4.50, with the Price to Cash per share for the same quarter was set at 0.42.

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 -10.30. With this latest performance, CANO shares dropped by -10.69% in over the last four-week period, additionally sinking by -31.52% over the last 6 months – not to mention a drop of -48.03% 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 33.95, with the RSI for the last a single of trading hit 29.43, and the three-weeks RSI is set at 36.59 for Cano Health Inc. [CANO]. The present Moving Average for the last 50 days of trading for this stock 9.92, while it was recorded at 8.82 for the last single week of trading, and 12.00 for the last 200 days.

Insight into Cano Health Inc. Fundamentals:

Cano Health Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.30.

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Cano Health Inc. [CANO] Insider Position Details

There are presently around $1,305 million, or 84.00% of CANO stock, in the hands of institutional investors. The top three institutional holders of CANO stocks are: FMR LLC with ownership of 35,919,589, which is approximately -0.867% of the company’s market cap and around 2.20% of the total institutional ownership; VANGUARD GROUP INC, holding 12,064,733 shares of the stock with an approximate value of $105.2 million in CANO stocks shares; and THIRD POINT LLC, currently with $96.65 million in CANO stock with ownership of nearly 0% of the company’s market capitalization.

74 institutional holders increased their position in Cano Health Inc. [NYSE:CANO] by around 38,306,080 shares. Additionally, 53 investors decreased positions by around 29,805,086 shares, while 13 investors held positions by with 81,593,636 shares. The mentioned changes placed institutional holdings at 149,704,802 shares, according to the latest SEC report filing. CANO stock had 45 new institutional investments in for a total of 28,700,845 shares, while 29 institutional investors sold positions of 11,363,841 shares during the same period.