Traders Purchase High Volume of Call Options on Cano Health (NYSE:CANO)

Posted by Defense World Staff on Aug 5th, 2023

Cano Health, Inc. (NYSE:CANO – Get Free Report) was the recipient of unusually large options trading on Friday. Stock investors acquired 35,674 call options on the company. This is an increase of approximately 665% compared to the typical daily volume of 4,666 call options.

Insider Buying and Selling

In related news, insider Richard Aguilar sold 275,940 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $1.29, for a total value of $355,962.60. Following the completion of the sale, the insider now owns 1,813,984 shares of the company’s stock, valued at approximately $2,340,039.36. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders have sold 929,103 shares of company stock valued at $1,253,328. 16.41% of the stock is owned by corporate insiders.

Institutional Trading of Cano Health

Institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in shares of Cano Health by 12.1% during the first quarter. Raymond James & Associates now owns 125,611 shares of the company’s stock worth $798,000 after buying an additional 13,593 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in 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 valued at $1,074,000 after buying an additional 26,550 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Cano Health by 19.2% during 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 in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Cano Health during the first quarter worth about $129,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Cano Health during the first quarter worth about $2,268,000. Institutional investors own 34.05% of the company’s stock.

Cano Health Stock Up 9.1 %

CANO opened at $1.68 on Friday. Cano Health has a 12 month low of $0.76 and a 12 month high of $9.75. The company has a market cap of $900.60 million, a P/E ratio of -1.70 and a beta of 0.01. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 2.02. The business’s 50-day moving average price is $1.37 and its 200-day moving average price is $1.34.

Cano Health (NYSE:CANO – Get Free Report) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02. The business had revenue of $866.91 million for the quarter, compared to analysts’ expectations of $836.21 million. Cano Health had a positive return on equity of 1.05% and a negative net margin of 8.14%. On average, equities analysts expect that Cano Health will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup cut their price target on Cano Health from $5.00 to $4.00 in a research note on Friday, May 12th. Piper Sandler increased their price objective on Cano Health to $1.00 in a report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.09.

Cano Health Company Profile

(Get Free Report)

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.