Cano Health (NYSE:CANO) Hits New 52-Week Low at $6.96

Shares of Cano Health, Inc. (NYSE:CANO) reached a new 52-week low on Thursday . The company traded as low as $6.96 and last traded at $6.97, with a volume of 14187 shares traded. The stock had previously closed at $7.30.

A number of research firms recently weighed in on CANO. Zacks Investment Research lowered shares of Cano Health from a “buy” rating to a “hold” rating in a research note on Tuesday. Wolfe Research began coverage on Cano Health in a report on Friday, October 1st. They issued an “outperform” rating and a $19.00 price target for the company. Piper Sandler upped their price target on Cano Health from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, November 10th. Cowen lowered their price target on Cano Health from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, December 7th. Finally, Jefferies Financial Group began coverage on Cano Health in a report on Wednesday, October 20th. They issued a “buy” rating and a $17.00 price target for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $16.00.

The business has a 50-day moving average price of $9.40 and a two-hundred day moving average price of $11.08. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.33 and a quick ratio of 3.32.

Cano Health (NYSE:CANO) last announced its quarterly earnings results on Tuesday, November 9th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $526.80 million during the quarter, compared to analyst estimates of $455.61 million. As a group, sell-side analysts forecast that Cano Health, Inc. will post 0.08 EPS for the current year.

In other Cano Health news, Director Solomon D. Trujillo purchased 97,000 shares of the firm’s stock in a transaction on Thursday, November 18th. The shares were purchased at an average cost of $10.55 per share, with a total value of $1,023,350.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marlow Hernandez purchased 15,000 shares of the firm’s stock in a transaction on Monday, December 6th. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $120,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 132,500 shares of company stock worth $1,329,925.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CANO. FMR LLC acquired a new position in shares of Cano Health in the 2nd quarter valued at about $423,303,000. Third Point LLC acquired a new position in shares of Cano Health in the 2nd quarter valued at about $134,119,000. ArrowMark Colorado Holdings LLC acquired a new position in shares of Cano Health in the 2nd quarter valued at about $133,628,000. Maverick Capital Ltd. acquired a new position in shares of Cano Health in the 2nd quarter valued at about $96,039,000. Finally, Wellington Management Group LLP acquired a new position in shares of Cano Health in the 3rd quarter valued at about $65,147,000. 38.47% of the stock is currently owned by institutional investors and hedge funds.

About Cano Health (NYSE:CANO)

Cano Health, LLC owns and operates health care centers and pharmacies. It provides medical, dental, urgent care, an in-house laboratory, and specialty services. The company offers patient-centric programs, such as home visits, telehealth, transition of care, and high risk and complex care management.

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