Cano Health, Inc. (NYSE:CANO) Expected to Post Quarterly Sales of $676.10 Million

Brokerages predict that Cano Health, Inc. (NYSE:CANOGet Rating) will report $676.10 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Cano Health’s earnings, with the highest sales estimate coming in at $710.46 million and the lowest estimate coming in at $645.22 million. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Cano Health will report full year sales of $2.87 billion for the current fiscal year, with estimates ranging from $2.85 billion to $2.89 billion. For the next year, analysts anticipate that the company will report sales of $3.64 billion, with estimates ranging from $3.56 billion to $3.74 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Cano Health.

Cano Health (NYSE:CANOGet Rating) last issued its quarterly earnings results on Monday, March 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The company had revenue of $492.26 million during the quarter, compared to the consensus estimate of $524.88 million.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Cano Health from a “sell” rating to a “hold” rating in a research note on Tuesday, March 15th. Credit Suisse Group decreased their target price on Cano Health from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, March 16th. UBS Group started coverage on Cano Health in a report on Wednesday, April 20th. They issued a “buy” rating and a $15.00 price target for the company. Piper Sandler downgraded Cano Health from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $8.50 to $5.00 in a report on Wednesday, April 6th. Finally, Citigroup reduced their target price on Cano Health from $12.00 to $10.00 in a research note on Wednesday, March 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $13.00.

Shares of Cano Health stock opened at $5.04 on Monday. The stock’s fifty day moving average price is $5.84 and its 200-day moving average price is $7.92. Cano Health has a 12 month low of $4.17 and a 12 month high of $16.17. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.96 and a current ratio of 1.97.

In other Cano Health news, Director Lewis Gold purchased 300,000 shares of Cano Health stock in a transaction dated Thursday, March 17th. The stock was acquired at an average cost of $6.81 per share, with a total value of $2,043,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Several large investors have recently made changes to their positions in the company. Addison Capital Co lifted its stake in shares of Cano Health by 9.1% during the fourth quarter. Addison Capital Co now owns 463,220 shares of the company’s stock worth $4,127,000 after purchasing an additional 38,720 shares in the last quarter. EMG Holdings L.P. bought a new position in shares of Cano Health during the third quarter valued at approximately $1,033,000. Rockefeller Capital Management L.P. grew its holdings in shares of Cano Health by 107.0% during the third quarter. Rockefeller Capital Management L.P. now owns 41,975 shares of the company’s stock valued at $532,000 after purchasing an additional 21,700 shares during the last quarter. Balyasny Asset Management LLC grew its holdings in Cano Health by 14.7% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,768,330 shares of the company’s stock worth $22,422,000 after buying an additional 227,067 shares in the last quarter. Finally, Islet Management LP acquired a new stake in Cano Health in the third quarter worth approximately $6,340,000. 34.51% of the stock is owned by institutional investors and hedge funds.

Cano Health Company Profile (Get Rating)

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.

Featured Stories

Get a free copy of the Zacks research report on Cano Health (CANO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cano Health (NYSE:CANO)

Receive News & Ratings for Cano Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cano Health and related companies with MarketBeat.com's FREE daily email newsletter.