Cano Health, Inc. (NYSE:CANO – Get Rating) shares dropped 4.6% during trading on Wednesday following insider selling activity. The stock traded as low as $1.22 and last traded at $1.24. Approximately 1,077,395 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 6,401,599 shares. The stock had previously closed at $1.30.
Specifically, CFO Brian D. Koppy sold 23,591 shares of the company’s stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $1.27, for a total transaction of $29,960.57. Following the completion of the sale, the chief financial officer now owns 802,570 shares in the company, valued at $1,019,263.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Brian D. Koppy sold 23,591 shares of the firm’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $1.27, for a total value of $29,960.57. Following the completion of the transaction, the chief financial officer now owns 802,570 shares in the company, valued at $1,019,263.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard Aguilar sold 500,000 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $1.42, for a total value of $710,000.00. Following the sale, the insider now directly owns 1,213,984 shares in the company, valued at approximately $1,723,857.28. The disclosure for this sale can be found here. Insiders sold 802,694 shares of company stock valued at $1,100,288 over the last three months. 16.41% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
CANO has been the topic of several analyst reports. Citigroup dropped their price objective on Cano Health from $5.00 to $4.00 in a report on Friday, May 12th. Piper Sandler boosted their price objective on Cano Health to $1.00 in a research report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Cano Health currently has a consensus rating of “Hold” and an average target price of $3.64.
Cano Health Stock Performance
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. acquired a new stake in Cano Health during the 2nd quarter worth $45,000. Pearl River Capital LLC increased its position in Cano Health by 31.3% during the first quarter. Pearl River Capital LLC now owns 13,420 shares of the company’s stock worth $85,000 after buying an additional 3,198 shares during the last quarter. Lumina Fund Management LLC grew its position in shares of Cano Health by 53.8% in the third quarter. Lumina Fund Management LLC now owns 14,300 shares of the company’s stock valued at $124,000 after purchasing an additional 5,000 shares during the last quarter. Royal Bank of Canada grew its position in shares of Cano Health by 519.8% in the third quarter. Royal Bank of Canada now owns 14,342 shares of the company’s stock valued at $124,000 after purchasing an additional 12,028 shares during the last quarter. Finally, Laidlaw Wealth Management LLC bought a new stake in shares of Cano Health in the third quarter valued at approximately $149,000. 25.56% of the stock is currently owned by institutional investors.
About Cano Health
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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