How does Cano Health Inc. (CANO) change from a tortoise to a hare?

Cano Health Inc. (NYSE: CANO) stock fell -2.90% on Monday to $1.34 against a previous-day closing price of $1.38. With 5.42 million shares changed hands, the volume of the stock remained lighter than its average volume of 11.85 million shares. During the session, the Medical Care Facilities company that operates in wider Healthcare sector, reached to the highest price of $1.4200 whereas the lowest price it dropped to was $1.3200. The 52-week range on CANO shows that it touched its highest point at $9.75 and its lowest point at $0.98 during that stretch. It currently has a 1-year price target of $4.18.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CANO was down-trending over the past week, with a drop of -9.46%, but this was up by 16.52% over a month. Three-month performance dropped to -70.22% while six-month performance fell -79.48%. The stock lost -78.35% in the past year, while it has lost -2.19% so far this year. A look at the trailing 12-month EPS for CANO yields -0.33 with Next year EPS estimates of -0.29. For the next quarter, that number is -0.13. This implies an EPS growth rate of 75.20% for this year and 32.60% for next year.

Float and Shares Shorts:

At present, 232.31 million CANO shares are outstanding with a float of 170.47 million shares on hand for trading. On Oct 13, 2022, short shares totaled 23.97 million, which was 9.92% higher than short shares on Sep 14, 2022. In addition to Dr. Marlow Hernandez Cano as the firm’s Founder, CEO, Pres & Chairman, Mr. Brian D. Koppy serves as its Chief Financial Officer.


Institutional Ownership:

Through their ownership of 72.22% of CANO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.88% of CANO, in contrast to 27.35% held by mutual funds. Shares owned by individuals account for 22.35%. As the largest shareholder in CANO with 13.25% of the stake, Fidelity Management & Research Co holds 32,398,334 shares worth 32,398,334. A second-largest stockholder of CANO, The Vanguard Group, Inc., holds 14,284,281 shares, controlling over 5.84% of the firm’s shares. JPMorgan Investment Management, I is the third largest shareholder in CANO, holding 9,876,994 shares or 4.04% stake. With a 2.34% stake in CANO, the JPMorgan Small Cap Growth Fund is the largest stakeholder. A total of 5,722,261 shares are owned by the mutual fund manager. The JPMorgan Funds – Global Healthcar, which owns about 2.29% of CANO stock, is the second-largest Mutual Fund holder. It holds 5,599,836 shares valued at 7.67 million. Vanguard Total Stock Market Index holds 2.10% of the stake in CANO, owning 5,128,280 shares worth 7.03 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CANO since 10 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CANO analysts setting a high price target of $7.00 and a low target of $1.20, the average target price over the next 12 months is $3.78. Based on these targets, CANO could surge 422.39% to reach the target high and fall by -10.45% to reach the target low. Reaching the average price target will result in a growth of 182.09% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CANO will report FY 2022 earnings on 03/12/2024. Analysts have provided yearly estimates in a range of -$0.15 being high and -$0.79 being low. For CANO, this leads to a yearly average estimate of -$0.37. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cano Health Inc. surprised analysts by -$0.19 when it reported -$0.23 EPS against a consensus estimate of -$0.04. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.02 and the low estimate is -$0.21. The average estimate for the next quarter is thus -$0.12.

Summary of Insider Activity:

Insiders traded CANO stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 147,666 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 2,183,293 while 85,276 shares were sold.

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