Market cap of Cano Health Inc. [CANO] reaches 2.96B – now what?


Cano Health Inc. [NYSE: CANO] stock went on an upward path that rose over 13.84% on Thursday, amounting to a one-week price increase of more than 21.50%. The company report on July 18, 2022 that Cano Health to Host Healthcare World of Tomorrow at L’ATTITUDE 2022.

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Cano Health is proud to host Healthcare World of Tomorrow, an interactive program at L’ATTITUDE 2022 in San Diego, California on September 22-25, 2022. This program will include Continuing Medical Education (CME) sessions, networking and business opportunities, and panel discussions with leaders in healthcare.  It is designed for primary care physicians, physician executives, advanced practice clinicians, medical students, and others involved in the delivery of primary care services.

During the program, national healthcare and business leaders will discuss the latest models for the delivery of primary care.  Participants will have exclusive time with executives from Cano Health, one of the fastest growing primary care providers in the country, and gain insights to grow their primary care practices.

Over the last 12 months, CANO stock dropped by -40.59%. The one-year Cano Health Inc. stock forecast points to a potential upside of 34.34. The average equity rating for CANO stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.96 billion, with 191.41 million shares outstanding and 151.99 million shares in the current float. Compared to the average trading volume of 3.63M shares, CANO stock reached a trading volume of 9158866 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 $9.90 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.

Raymond James have made an estimate for Cano Health Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 24, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $8 to $6. The new note on the price target was released on June 15, 2022, representing the official price target for Cano Health Inc. stock. Previously, the target price had yet another raise to $8, while BofA Securities analysts kept a Buy rating on CANO stock.

The Average True Range (ATR) for Cano Health Inc. is set at 0.46, with the Price to Sales ratio for CANO stock in the period of the last 12 months amounting to 1.46. The Price to Book ratio for the last quarter was 3.22, with the Price to Cash per share for the same quarter was set at 0.25.

CANO Stock Performance Analysis:

Cano Health Inc. [CANO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.50. With this latest performance, CANO shares gained by 34.30% in over the last four-week period, additionally plugging by 8.88% over the last 6 months – not to mention a drop of -40.59% 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 64.95, with the RSI for the last a single of trading hit 70.01, and the three-weeks RSI is set at 61.18 for Cano Health Inc. [CANO]. The present Moving Average for the last 50 days of trading for this stock 5.25, while it was recorded at 5.86 for the last single week of trading, and 7.19 for the last 200 days.

Insight into Cano Health Inc. 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.

Cano Health Inc. [CANO] Insider Position Details

There are presently around $887 million, or 77.20% 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 $72.68 million in CANO stocks shares; and THIRD POINT LLC, currently with $65.67 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 August and at the time of the August reporting period, where 87 institutional holders increased their position in Cano Health Inc. [NYSE:CANO] by around 28,349,934 shares. Additionally, 66 investors decreased positions by around 34,276,679 shares, while 14 investors held positions by with 92,736,490 shares. The mentioned changes placed institutional holdings at 155,363,103 shares, according to the latest SEC report filing. CANO stock had 34 new institutional investments in for a total of 9,009,663 shares, while 23 institutional investors sold positions of 7,483,114 shares during the same period.