Streetbeat News

CANO

Cano Health Inc

https://canohealth.com

CEO

Marlow Hernandez Cano

Employees

2,200

Industry

General Medical and Surgical Hospitals

Cano Health, Inc. provides primary care medical services to its members in the United States and Puerto Rico.

Open

2.39

Mkt cap

12M

Volume

173K

High

2.46

P/E Ratio

-0.01

52-wk high

190.00

Low

2.18

Div yield

N/A

52-wk low

1.74

The New York Stock Exchange (NYSE) has suspended trading in Cano Health and initiated delisting proceedings. This action indicates significant issues within Cano Health that have led to this drastic measure by the NYSE.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:36 pm

4D Molecular Therapeutics, Inc. (FDMT) shares rose by 20.1% in pre-market trading after presenting favorable interim data from a Phase 2 clinical trial. Other stocks also moved significantly in pre-market trading, with notable gainers including Chenghe Acquisition Co. (CHEA), Tritium DCFC Limited (DCFC), and YanGuFang International Group Co., Ltd. (YGF). Losers included Cano Health, Inc. (CANO), DMK Pharmaceuticals Corporation (DMK), and NanoString Technologies, Inc. (NSTG), all experiencing significant drops due to various challenges such as bankruptcy proceedings and delisting notices.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 1:04 pm

Cano Health's stock is trading lower following the company's announcement of initiating prearranged voluntary Chapter 11 bankruptcy proceedings in the US bankruptcy court for the District of Delaware.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 12:44 pm

Cano Health Inc (NASDAQ:CANO) has entered a Restructuring Support Agreement with its lenders, initiating Chapter 11 proceedings to reduce debt. The company secured $150 million in new financing to support operations during restructuring. CEO Mark Kent highlighted the company's focus on core businesses and expected annualized cost reductions of $290 million by end of 2024. Cano Health aims to emerge from restructuring in Q2 2024, with plans for debt conversion and exploring strategic partnerships or sale. CANO stock dropped 51.30% to $1.12 in premarket trading.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 12:03 pm

Cano Health announced a restructuring agreement with the majority of its existing lenders aimed at strengthening its financial position. This strategic move is designed to improve the company's balance sheet and ensure long-term sustainability.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 5:59 am

KeyCorp (NYSE:KEY) shares dropped by 5.4% to $13.10 after reporting Q4 financial results with revenues of $1.538 billion, down 19% Y/Y, but slightly above consensus. Adjusted EPS of 25 cents also exceeded expectations. Other stocks experienced significant movements in Thursday's mid-day session, with various companies reporting gains due to different reasons such as acquisitions, financial results, and analyst upgrades. Conversely, several companies saw their shares fall due to negative news such as voluntary delisting, reverse stock splits, and disappointing earnings guidance.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 6:08 pm

In Thursday's intraday session, several healthcare stocks experienced significant movements. Celularity (CELU) saw a 44.7% increase, while NovoCure (NVCR) rose by 24.15%. Jasper Therapeutics (JSPR) and Nuvectis Pharma (NVCT) also saw upward movements of 22.18% and 14.85%, respectively. Bullfrog AI Hldgs (BFRG) and Venus Concept (VERO) stocks rose by 14.74% and 14.28%. On the downside, Aravive (ARAV) dropped by 43.2%, Processa Pharma (PCSA) by 26.35%, and ZyVersa Therapeutics (ZVSA), 60 Degrees (SXTP), Cano Health (CANO), and MAIA Biotechnology (MAIA) also experienced declines.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 5:31 pm

During Wednesday's intraday session, several healthcare stocks experienced significant movements. Bullfrog AI Holdings (BFRG) and MAIA Biotechnology (MAIA) were among the gainers, with stock increases of 26.1% and 26.02%, respectively. Kintara Therapeutics (KTRA), Anitra (AZTR), Evolus (EOLS), and Jasper Therapeutics (JSPR) also saw their stocks rise. On the losing side, Adagene (ADAG) saw the largest decline of 40.5%, followed by Estrella Immunopharma (ESLA), NexImmune (NEXI), Jin Medical International (ZJYL), Acurx Pharmaceuticals (ACXP), and Cano Health (CANO) with significant drops in their stock prices.

Portfolio Pulse from Benzinga Insights

January 17, 2024 | 5:31 pm

Shares of health care providers are trading lower following UnitedHealth Group's decline after its Q4 results, indicating a negative market reaction that could affect similar stocks in the sector.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 8:29 pm

Insiders at Interactive Brokers Group, T-Mobile US, Cano Health, and TransAct Technologies have recently sold shares. Interactive Brokers' CIO sold shares after an analyst upgrade and price target raise. T-Mobile's 10% owner sold shares amidst a senior notes sale. Cano Health's 10% owner sold shares following a NYSE non-compliance notice. TransAct Technologies' 10% owner sold shares after approval to sell a product in the U.S. market. Insider sales can indicate various sentiments and should not be the sole basis for investment decisions.

Portfolio Pulse from Avi Kapoor

January 10, 2024 | 12:35 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.