Cowen Trims Cano Health (NYSE:CANO) Target Price to $10.00

Cano Health (NYSE:CANOGet Rating) had its price target cut by equities research analysts at Cowen from $13.00 to $10.00 in a report issued on Tuesday, The Fly reports. Cowen’s target price would indicate a potential upside of 128.31% from the company’s previous close.

Several other research firms have also recently commented on CANO. Credit Suisse Group cut their target price on Cano Health from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 16th. Citigroup dropped their price objective on Cano Health from $10.00 to $8.00 in a research note on Tuesday. Piper Sandler cut Cano Health from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $8.50 to $5.00 in a research note on Wednesday, April 6th. Zacks Investment Research upgraded Cano Health from a “sell” rating to a “hold” rating in a research note on Tuesday, March 15th. Finally, Bank of America assumed coverage on Cano Health in a research note on Tuesday, May 3rd. They issued a “buy” rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $11.67.

Shares of CANO opened at $4.38 on Tuesday. The stock has a 50 day simple moving average of $5.71 and a 200 day simple moving average of $7.44. The company has a current ratio of 1.97, a quick ratio of 1.96 and a debt-to-equity ratio of 1.15. Cano Health has a 52-week low of $4.16 and a 52-week high of $16.17.

Cano Health (NYSE:CANOGet Rating) last released its earnings results on Monday, March 14th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $492.26 million during the quarter, compared to analysts’ expectations of $524.88 million. As a group, equities research analysts anticipate that Cano Health will post -0.23 earnings per share for the current fiscal year.

In other news, Director Lewis Gold acquired 300,000 shares of the firm’s stock in a transaction dated Thursday, March 17th. The stock was purchased at an average price of $6.81 per share, for a total transaction of $2,043,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 54.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its stake in Cano Health by 8.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 27,206 shares of the company’s stock worth $344,000 after acquiring an additional 2,100 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Cano Health by 21.7% during the 4th quarter. GSA Capital Partners LLP now owns 12,913 shares of the company’s stock valued at $115,000 after acquiring an additional 2,302 shares during the period. Wolverine Asset Management LLC lifted its holdings in Cano Health by 398.7% in the 3rd quarter. Wolverine Asset Management LLC now owns 4,164 shares of the company’s stock worth $52,000 after buying an additional 3,329 shares during the period. Teacher Retirement System of Texas lifted its holdings in Cano Health by 13.7% in the 1st quarter. Teacher Retirement System of Texas now owns 37,963 shares of the company’s stock worth $241,000 after buying an additional 4,576 shares during the period. Finally, Gleason Group Inc. purchased a new stake in Cano Health in the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 37.64% of the company’s stock.

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.

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