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Cano Health Inc. (CANO) Has A Promising Outlook For 2023

Cano Health Inc. (NYSE:CANO) has seen 5.42 million shares traded in the last trading session. The company, currently valued at $643.39M, closed the last trade at $1.34 per share which meant it lost -$0.04 on the day or -2.90% during that session. The CANO stock price is -627.61% off its 52-week high price of $9.75 and 26.87% above the 52-week low of $0.98. If we look at the company’s 10-day average daily trading volume, we find that it stood at 11.61 million shares traded. The 3-month trading volume is 11.85 million shares.

The consensus among analysts is that Cano Health Inc. (CANO) is a Hold stock at the moment, with a recommendation rating of 2.70. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 6 out of 10 have rated it as a Hold, with 3 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.05.

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Cano Health Inc. (NYSE:CANO) trade information

Sporting -2.90% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the CANO stock price touched $1.34 or saw a rise of 10.67%. Year-to-date, Cano Health Inc. shares have moved -2.19%, while the 5-day performance has seen it change -9.46%. Over the past 30 days, the shares of Cano Health Inc. (NYSE:CANO) have changed 16.52%. Short interest in the company has seen 23.97 million shares shorted with days to cover at 3.14.

Wall Street analysts have a consensus price target for the stock at $3.78, which means that the shares’ value could jump 64.55% from current levels. The projected low price target is $1.20 while the price target rests at a high of $7.00. In that case, then, we find that the current price level is -422.39% off the targeted high while a plunge would see the stock lose 10.45% from current levels.

Cano Health Inc. (CANO) estimates and forecasts

Figures show that Cano Health Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -79.48% over the past 6 months, with this year growth rate of 29.03%, compared to 4.40% for the industry. Revenue growth from the last financial year stood is estimated to be 77.10%.

9 analysts offering their estimates for the company have set an average revenue estimate of $717.93 million for the current quarter. 9 have an estimated revenue figure of $744.82 million for the next quarter concluding in Dec 2022.

CANO Dividends

Cano Health Inc. is expected to release its next earnings report on November 09 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Cano Health Inc. (NYSE:CANO)’s Major holders

Insiders own 31.95% of the company shares, while shares held by institutions stand at 72.22% with a share float percentage of 106.13%. Investors are also buoyed by the number of investors in a company, with Cano Health Inc. having a total of 199 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 31.16 million shares worth more than $136.49 million. As of Jun 29, 2022, FMR, LLC held 13.44% of shares outstanding.

The other major institutional holder is JP Morgan Chase & Company, with the holding of over 16.16 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $70.78 million and represent 6.97% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Fidelity Advisor Growth Opportunities Fund and Fidelity Advisor Health Care Fund. As of Jun 29, 2022, the former fund manager holds about 2.90% shares in the company for having 6.72 million shares of worth $29.43 million while later fund manager owns 6.0 million shares of worth $37.02 million as of Aug 30, 2022, which makes it owner of about 2.59% of company’s outstanding stock.

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