Cano Health (NYSE:CANO) Shares Down 9.2%

Cano Health, Inc. (NYSE:CANOGet Rating)’s stock price fell 9.2% on Monday . The stock traded as low as $4.62 and last traded at $4.65. 123,208 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 3,608,061 shares. The stock had previously closed at $5.12.

Analyst Ratings Changes

Several research firms have recently weighed in on CANO. Raymond James began coverage on shares of Cano Health in a research note on Friday, June 24th. They issued an “outperform” rating and a $8.00 price target on the stock. Bank of America downgraded shares of Cano Health from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $8.00 to $6.00 in a research note on Wednesday, June 15th. Cowen decreased their price target on shares of Cano Health from $13.00 to $10.00 in a research note on Tuesday, May 10th. Cowen decreased their price target on shares of Cano Health from $13.00 to $10.00 in a research note on Tuesday, May 10th. Finally, Piper Sandler decreased their price target on shares of Cano Health from $5.00 to $4.00 in a research note on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.80.

Cano Health Stock Down 2.3 %

The business’s 50-day simple moving average is $5.40 and its two-hundred day simple moving average is $5.60. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.02 and a current ratio of 2.02.

Institutional Investors Weigh In On Cano Health

A number of institutional investors have recently made changes to their positions in the stock. Samlyn Capital LLC grew its holdings in shares of Cano Health by 71.1% in the second quarter. Samlyn Capital LLC now owns 10,008,009 shares of the company’s stock valued at $43,835,000 after purchasing an additional 4,158,489 shares in the last quarter. State Street Corp grew its holdings in shares of Cano Health by 215.1% in the second quarter. State Street Corp now owns 3,359,294 shares of the company’s stock valued at $14,714,000 after purchasing an additional 2,293,310 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Cano Health by 119.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,354,534 shares of the company’s stock valued at $14,952,000 after purchasing an additional 1,281,609 shares in the last quarter. FMR LLC grew its holdings in shares of Cano Health by 3.8% in the second quarter. FMR LLC now owns 31,162,099 shares of the company’s stock valued at $136,490,000 after purchasing an additional 1,148,380 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Cano Health by 295.2% in the second quarter. Northern Trust Corp now owns 1,529,141 shares of the company’s stock valued at $6,697,000 after purchasing an additional 1,142,187 shares in the last quarter. 37.64% of the stock is currently owned by institutional investors and hedge funds.

About Cano Health

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Cano Health, Inc provides primary care medical services to its members in the United States and Puerto Rico. It owns and operates medical centers enabled by CanoPanorama, a proprietary population health management technology-powered platform that provides the healthcare providers at its medical centers with a 360-degree view of their members with actionable insights to improve care decisions and member engagement.

Further Reading

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