UBS Group Reiterates Sell Rating for Cano Health (NYSE:CANO)

Cano Health (NYSE:CANO)‘s stock had its “sell” rating reiterated by equities research analysts at UBS Group in a research report issued on Friday, Benzinga reports. They presently have a $3.75 target price on the stock, down from their previous target price of $12.00. UBS Group’s target price would suggest a potential downside of 50.85% from the company’s current price.

CANO has been the subject of several other research reports. Jefferies Financial Group lowered Cano Health from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Citigroup lowered Cano Health from a “buy” rating to a “neutral” rating and cut their target price for the stock from $4.00 to $0.80 in a research note on Friday, August 11th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.21.

Cano Health Stock Down 6.7 %

CANO stock opened at $7.63 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.49 and a debt-to-equity ratio of 3.95. The company’s 50 day moving average is $2.06 and its 200 day moving average is $1.45. The stock has a market cap of $41.28 million, a price-to-earnings ratio of -0.04 and a beta of 0.43. Cano Health has a 1-year low of $5.27 and a 1-year high of $226.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CANO. Raymond James & Associates grew its holdings in shares of Cano Health by 12.1% in the first quarter. Raymond James & Associates now owns 125,611 shares of the company’s stock worth $798,000 after purchasing an additional 13,593 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Cano Health by 18.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 169,145 shares of the company’s stock worth $1,074,000 after purchasing an additional 26,550 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cano Health by 19.2% in the first quarter. Bank of New York Mellon Corp now owns 78,241 shares of the company’s stock worth $497,000 after purchasing an additional 12,578 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Cano Health in the first quarter worth approximately $129,000. Finally, Allianz Asset Management GmbH bought a new position in shares of Cano Health in the first quarter worth approximately $2,268,000. Institutional investors own 35.99% of the company’s stock.

Cano Health Company Profile

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.