Cano Health Inc. [CANO] moved down -3.93: Why It’s Important


Cano Health Inc. [NYSE: CANO] traded at a low on 06/22/22, posting a -3.93 loss after which it closed the day’ session at $4.65. The company report on June 7, 2022 that Cano Health Investor Day to Provide Update on Strategy, Operations and Outlook.

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Cano Health, Inc. (“Cano Health” or the “Company”) (NYSE: CANO), a leading value-based primary care provider and population health company, is hosting its 2022 Investor Day today. Members of the management team will provide updates on the business, including greater visibility into its strategy, medical center and affiliate operations, and expectations for short- and long-term financial performance.

“Fueled by our national expansion and membership growth, Cano Health has established itself as one of the nation’s largest value-based primary care providers,” said Dr. Marlow Hernandez, Chairman and Chief Executive Officer of Cano Health. “Our mission is to provide access, quality and wellness to our growing membership, and to grow through our three-pronged strategy of build, buy and manage. By providing coordinated care utilizing our CanoPanorama platform, we aim to provide better health outcomes for our members at lower cost. Demand for our services is strong, and we expect our differentiated growth strategy to drive sustainable and profitable growth as we redefine primary care to transform America’s healthcare system.”.

The results of the trading session contributed to over 5094045 shares changing hands. Over the past one week, the price volatility of Cano Health Inc. stands at 7.57% while the volatility over the past one month is 7.92%.

The market cap for CANO stock reached $2.14 billion, with 191.41 million shares outstanding and 188.02 million shares in the current float. Compared to the average trading volume of 3.01M shares, CANO reached a trading volume of 5094045 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $10.11 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 1.80. 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.

BofA Securities have made an estimate for Cano Health Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 15, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on May 03, 2022, representing the official price target for Cano Health Inc. stock. Previously, the target price had yet another raise to $15, while UBS analysts kept a Buy rating on CANO stock. On April 06, 2022, analysts decreased their price target for CANO shares from 8.50 to 5.

The Average True Range (ATR) for Cano Health Inc. is set at 0.40, with the Price to Sales ratio for CANO stock in the period of the last 12 months amounting to 1.05. The Price to Book ratio for the last quarter was 2.30, with the Price to Cash per share for the same quarter was set at 0.25.

How has CANO stock performed recently?

Cano Health Inc. [CANO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.53. With this latest performance, CANO shares dropped by -22.76% in over the last four-week period, additionally sinking by -49.40% over the last 6 months – not to mention a drop of -63.93% 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 40.39, with the RSI for the last a single of trading hit 36.74, and the three-weeks RSI is set at 42.59 for Cano Health Inc. [CANO]. The present Moving Average for the last 50 days of trading for this stock 5.18, while it was recorded at 4.76 for the last single week of trading, and 8.05 for the last 200 days.

Cano Health Inc. [CANO]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Cano Health Inc. [CANO] shares currently have an operating margin of -5.89 and a Gross Margin at +9.29. Cano Health Inc.’s Net Margin is presently recorded at -1.12.

Return on Equity for this stock declined to -4.03, with Return on Assets sitting at -1.27.

Cano Health Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 2.00.

Insider trade positions for Cano Health Inc. [CANO]

There are presently around $751 million, or 77.40% of CANO stock, in the hands of institutional investors. The top three institutional holders of CANO stocks are: FMR LLC with ownership of 30,013,719, which is approximately -9.021% of the company’s market cap and around 9.50% of the total institutional ownership; VANGUARD GROUP INC, holding 12,729,264 shares of the stock with an approximate value of $61.61 million in CANO stocks shares; and THIRD POINT LLC, currently with $55.66 million in CANO stock with ownership of nearly 1.912% of the company’s market capitalization.

Positions in Cano Health Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 89 institutional holders increased their position in Cano Health Inc. [NYSE:CANO] by around 28,579,974 shares. Additionally, 63 investors decreased positions by around 34,157,023 shares, while 14 investors held positions by with 92,525,192 shares. The mentioned changes placed institutional holdings at 155,262,189 shares, according to the latest SEC report filing. CANO stock had 36 new institutional investments in for a total of 9,433,105 shares, while 21 institutional investors sold positions of 7,373,614 shares during the same period.