Cano Health Inc. (NYSE:CANO) closed Friday at $1.37 per share, up from $1.23 a day earlier. While Cano Health Inc. has overperformed by 11.38%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CANO fell by -84.99%, with highs and lows ranging from $9.75 to $0.98, whereas the simple moving average fell by -73.05% in the last 200 days.
On December 13, 2022, BofA Securities started tracking Cano Health Inc. (NYSE: CANO) recommending Underperform. A report published by Raymond James on November 10, 2022, Downgraded its rating to ‘Mkt Perform’ for CANO. Cowen also Downgraded CANO shares as ‘Market Perform’, setting a target price of $3 on the company’s shares in a report dated November 10, 2022. Credit Suisse October 27, 2022d the rating to Neutral on October 27, 2022, and set its price target from $10 to $5. Truist initiated its ‘Hold’ rating for CANO, as published in its report on September 07, 2022. Raymond James’s report from June 24, 2022 suggests a price prediction of $8 for CANO shares, giving the stock a ‘Outperform’ rating. BofA Securities also rated the stock as ‘Neutral’.
Analysis of Cano Health Inc. (CANO)
Further, the quarter-over-quarter increase in sales is 33.30%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Cano Health Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -18.80% is sufficient for you to turn a profit off your investment.
As an indicator of volatility for any stock, average volume can also be very valuable, and CANO is recording an average volume of 12.52M. On a monthly basis, the volatility of the stock is set at 12.33%, whereas on a weekly basis, it is put at 12.49%, with a gain of 25.69% over the past seven days. Furthermore, long-term investors anticipate a median target price of $5.69, showing growth from the present price of $1.37, which can serve as yet another indication of whether CANO is worth investing in or should be passed over.
How Do You Analyze Cano Health Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 11.80%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 68.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in CANO shares?
The recent increase in stakes in CANO appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co’s position in CANO has increased by 9.34% in the first quarter. The company now owns 32,398,334 shares of the stock, with a value of $61.56 million, following the purchase of 2,767,441 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in CANO during the first quarter, downing its stake by -7.42%. During the last quarter, the company dropped down -1,144,901 additional shares for a total stake of worth $27.14 million, bringing number of shares owned by the company to 14,284,281.
During the first quarter, JPMorgan Investment Management, I subtracted a -338,769 position in CANO. BlackRock Fund Advisors sold an additional -0.29 million shares in the last quarter, decreasing its holdings by -2.89%, now holding 9.76 million shares worth $18.55 million. At the end of the first quarter, Owl Creek Asset Management LP increased its CANO holdings by 9.83% and now holds 9.4 million CANO shares valued at $17.86 million with the added 0.84 million shares during the period. CANO shares are owned by institutional investors to the tune of 68.60% at present.