Cano Health (NYSE:CANO – Get Free Report) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. They presently have a $0.80 target price on the stock, down from their previous target price of $4.00. Citigroup’s price target indicates a potential upside of 94.93% from the stock’s current price.
Separately, Piper Sandler raised their price target on shares of Cano Health to $1.00 in a research report on Tuesday, May 16th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Cano Health has an average rating of “Hold” and an average target price of $2.69.
Check Out Our Latest Analysis on CANO
Cano Health Stock Down 73.0 %
CANO opened at $0.41 on Friday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.47 and a quick ratio of 1.47. The company’s 50-day moving average is $1.37 and its 200 day moving average is $1.34. Cano Health has a fifty-two week low of $0.38 and a fifty-two week high of $9.75. The firm has a market capitalization of $220.00 million, a P/E ratio of -0.28 and a beta of 0.01.
Insider Transactions at Cano Health
In other news, insider Richard Aguilar sold 500,000 shares of Cano Health stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $1.42, for a total value of $710,000.00. Following the completion of the transaction, the insider now owns 1,213,984 shares in the company, valued at $1,723,857.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 929,103 shares of company stock worth $1,253,328 over the last quarter. Corporate insiders own 16.41% of the company’s stock.
Hedge Funds Weigh In On Cano Health
Several large investors have recently modified their holdings of CANO. NewEdge Wealth LLC grew its stake in Cano Health by 11,402.9% during the first quarter. NewEdge Wealth LLC now owns 5,490,311 shares of the company’s stock valued at $4,996,000 after acquiring an additional 5,442,581 shares in the last quarter. Fifth Lane Capital LP purchased a new position in Cano Health during the fourth quarter valued at approximately $94,000. Bayshore Asset Management LLC purchased a new position in Cano Health during the fourth quarter valued at approximately $157,000. Mercer Global Advisors Inc. ADV purchased a new position in Cano Health during the fourth quarter valued at approximately $27,000. Finally, Athos Capital Ltd bought a new stake in Cano Health during the fourth quarter valued at approximately $137,000. Hedge funds and other institutional investors own 34.05% of the company’s stock.
About Cano Health
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.
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