Cano Health, LLC owns and operates health care centers and pharmacies. It provides medical, dental, urgent care, an in-house laboratory, and specialty services. The company offers patient-centric programs, such as home visits, telehealth, transition of care, and high risk and complex care management. Cano Health, LLC was founded in 2009 and is based in Miami, Florida.
IPO Year: 2020
Exchange: NYSE
Website: canohealth.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/11/2023 | Buy → Hold | Jefferies | |
| 8/11/2023 | $4.00 → $0.80 | Buy → Neutral | Citigroup |
| 1/6/2023 | $12.00 → $1.25 | Buy → Neutral | UBS |
| 1/5/2023 | Outperform → Peer Perform | Wolfe Research | |
| 12/13/2022 | $1.50 | Underperform | BofA Securities |
| 11/10/2022 | $10.00 → $3.00 | Outperform → Market Perform | Cowen |
| 11/10/2022 | Outperform → Mkt Perform | Raymond James | |
| 10/27/2022 | $10.00 → $5.00 | Outperform → Neutral | Credit Suisse |
| 9/7/2022 | $7.00 | Hold | Truist |
| 6/24/2022 | $8.00 | Outperform | Raymond James |
8-K - Cano Health, Inc. (0001800682) (Filer)
8-K - Cano Health, Inc. (0001800682) (Filer)
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8-K - Cano Health, Inc. (0001800682) (Filer)
8-K - Cano Health, Inc. (0001800682) (Filer)
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8-K - Cano Health, Inc. (0001800682) (Filer)
144 - Cano Health, Inc. (0001800682) (Subject)
8-K - Cano Health, Inc. (0001800682) (Filer)
144 - Cano Health, Inc. (0001800682) (Subject)
Emergence from Chapter 11 Expected in Third Quarter of 2024 MIAMI, May 21, 2024 /PRNewswire/ -- Cano Health, Inc. (NYSE: CANO) ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today announced a global agreement with the Unsecured Creditors Committee representing the interests of the Company's general unsecured creditors, with the support of the Ad Hoc Lender Group. It also received approval of its Disclosure Statement by the U.S. Bankruptcy Court for the District of Delaware (the "Court"), paving the way to solicit creditor approval of its Plan of Reorganization and its expected emergence from Chapter 11 in the third quarter. Mark
MIAMI, Feb. 5, 2024 /PRNewswire/ -- Cano Health, Inc. (NYSE:CANO) ("Cano Health" or the "Company") announced today that on February 5, 2024, the New York Stock Exchange (the "NYSE") notified the Company that the NYSE had determined to (a) commence proceedings to delist the Company's Class A common stock, par value $0.01 per share ("Common Stock") and (b) immediately suspend trading in the Company's Common Stock pursuant to Section 802.01D of the NYSE Listed Company Manual after the Company filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on February 4, 2024.
Positions the Company to Advance Its Ongoing Transformation Plan Designed to Significantly Reduce Costs, Enhance Productivity, and Improve Cash Flow Receives Commitment for $150 Million in New Capital Ensures Patients Continue to Receive High-Quality Care Across Medical Centers MIAMI, Feb. 4, 2024 /PRNewswire/ -- Cano Health, Inc. (NYSE:CANO) ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today announced that it has entered into a Restructuring Support Agreement (the "RSA") with lenders (the "Ad Hoc Lender Group") holding approximately 86% of its secured revolving and term loan debt and 92% of its senior unsecured notes. This a
Accelerates Transformation Plan, Now Targeting $290 million of Cost Reductions MIAMI, Dec. 29, 2023 /PRNewswire/ -- Cano Health, Inc. (NYSE:CANO) ("Cano Health" or the "Company") announced today that it was notified by NYSE Regulation Inc. (the "NYSE") that it is not in compliance with Section 802.01B of the NYSE Listed Company Manual (the "Listing Rule") because the Company's total market capitalization has been less than $50 million over a 30 trading-day period and its stockholders' equity is less than $50 million. Pursuant to the Listing Rule, the Company has 10 business d
Patricia Ferrari and Carol Flaton to Enhance the Board's and Management's Ongoing Strategic, Operational and Financing Initiatives MIAMI, Dec. 18, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO), a leading value-based primary care provider and population health company, today announced the appointment of Patricia Ferrari and Carol Flaton to its Board of Directors. Ms. Ferrari and Ms. Flaton bring broad business experience and deep financial expertise, with proven track records of advising companies on strategies to improve operations and financial performance, as well as strengthening their capital structures.
MIAMI, Oct. 5, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO) today announced that it has filed a preliminary proxy statement with the SEC regarding a special stockholders' meeting to authorize Cano Health's Board of Directors to effect a reverse stock split of the Company's Class A and Class B common stock (the "Common Stock") at a ratio of 1-for-60, with the Board having the right to adjust such ratio down to 1-for-5 and up to 1-for-100 (the "Reverse Stock Split"). The Board will determine the final split ratio after stockholder approval and would retain the authority to abandon the Reverse Stock Split at any time or to delay or postpone it.
Eladio Gil named Interim Chief Financial Officer MIAMI, Sept. 29, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health") (NYSE:CANO) today announced that Eladio Gil has been appointed Interim Chief Financial Officer, effective September 29, 2023. Mr. Gil, who previously served as Cano Health's Vice President of Medicare Advantage Finance, succeeds Brian Koppy, who has stepped down to accept an opportunity outside the organization. Mr. Gil is a seasoned finance executive with more than 30 years of comprehensive healthcare experience. Before joining Cano Health, Mr. Gil served a
MIAMI, Sept. 26, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health") (NYSE:CANO) today announced that it sold substantially all of the assets associated with the operation of Cano Health's senior-focused primary care centers in Texas and Nevada to CenterWell Senior Primary Care ("CenterWell"). The total value of the transaction to Cano Health is approximately $66.7 million, consisting of approximately $35.4 million in cash paid at closing (of which approximately $1.9 million was withheld for satisfaction of potential indemnification claims), plus the release of certain liabilities owed by Cano Health. As of August 1, 2023, the primary care centers in Texas and Nevada cared for approximate
MIAMI, Sept. 11, 2023 /PRNewswire/ -- Cano Health, Inc. (NYSE:CANO) ("Cano Health" or the "Company" announced today that it was notified by NYSE Regulation Inc. (the "NYSE") that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual (the "Listing Rule") because the average closing stock price of a share of the Company's Class A common stock was less than $1.00 per share over a consecutive 30 trading-day period. Pursuant to the Listing Rule, the Company has 6 months following the NYSE notification to regain compliance with the Listing Rule, during which
Mr. Kent immediately joins Board of Directors, replacing Dr. Marlow Hernandez who has stepped down MIAMI, Aug. 21, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today announced that its Board of Directors has appointed Mark Kent as Chief Executive Officer, effective immediately. The Board also elected Mr. Kent, who has served as interim Chief Executive Officer since June 16, 2023, to Cano Health's Board of Directors. The Board also announced that Dr. Marlow Hernandez has stepped down from the Board effective immediately. Regarding Mr. Kent's appointment, the Board issued the following state
Jefferies downgraded Cano Health from Buy to Hold
Citigroup downgraded Cano Health from Buy to Neutral and set a new price target of $0.80 from $4.00 previously
UBS downgraded Cano Health from Buy to Neutral and set a new price target of $1.25 from $12.00 previously
Wolfe Research downgraded Cano Health from Outperform to Peer Perform
BofA Securities resumed coverage of Cano Health with a rating of Underperform and set a new price target of $1.50
Cowen downgraded Cano Health from Outperform to Market Perform and set a new price target of $3.00 from $10.00 previously
Raymond James downgraded Cano Health from Outperform to Mkt Perform
Credit Suisse downgraded Cano Health from Outperform to Neutral and set a new price target of $5.00 from $10.00 previously
Truist initiated coverage of Cano Health with a rating of Hold and set a new price target of $7.00
Raymond James initiated coverage of Cano Health with a rating of Outperform and set a new price target of $8.00
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Patricia Ferrari and Carol Flaton to Enhance the Board's and Management's Ongoing Strategic, Operational and Financing Initiatives MIAMI, Dec. 18, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO), a leading value-based primary care provider and population health company, today announced the appointment of Patricia Ferrari and Carol Flaton to its Board of Directors. Ms. Ferrari and Ms. Flaton bring broad business experience and deep financial expertise, with proven track records of advising companies on strategies to improve operations and financial performance, as well as strengthening their capital structures.
Mr. Kent immediately joins Board of Directors, replacing Dr. Marlow Hernandez who has stepped down MIAMI, Aug. 21, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today announced that its Board of Directors has appointed Mark Kent as Chief Executive Officer, effective immediately. The Board also elected Mr. Kent, who has served as interim Chief Executive Officer since June 16, 2023, to Cano Health's Board of Directors. The Board also announced that Dr. Marlow Hernandez has stepped down from the Board effective immediately. Regarding Mr. Kent's appointment, the Board issued the following state
MIAMI, June 22, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today filed with the SEC final voting results from its Annual Stockholders' Meeting held on June 15, 2023. An aggregate of 457,462,704 shares—or 85.3% of the Company's Class A and Class B common stock outstanding as of the record date for the meeting—were represented in person or by proxy at the meeting. Cano Health's Board of Directors issued the following statement: "As previously stated, we are well aware of the significant withhold vote and we take seriously the feedback we have received from, and our duty to, our stockholders
Welcomes Long-Overdue Resignation of CEO Dr. Marlow Hernandez and Appointment of Mark Kent as Cano's Interim CEO Contends a Board Reconstitution Overseen by Credible, Trustworthy Independent Directors Is Required to Put Cano on the Right Path Toward Significant Value Creation Disappointed by the Board's Refusal to Accept Stockholders' Clear Mandate for Change Delivered at the 2023 Annual Meeting with More than 82% of Votes Cast WITHHOLDING Support for the Directors up for Re-Election Urges the Board to Engage Constructively Regarding the Immediate Appointment of Independent Candidates Guy P. Sansone and Joseph Berardo, Jr. as Directors, Who Possess Significant and Credible Healthcare
Dr. Alan Muney and Kim Rivera re-elected to Board of Directors MIAMI, June 15, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today announced the results of its Annual Stockholders' Meeting (the "Annual Meeting"). Based on the vote tabulation by the Company's proxy solicitor, Cano Health's two director nominees, Dr. Alan Muney and Kim Rivera, have been re-elected to the Company's Board of Directors. "We take seriously the input we have received from our stockholders and they can expect us to take further action to ensure we unlock the substantial value that is embedded in Cano Health's unique
Encourages Fellow Stockholders to Help Initiate the Turnaround by WITHHOLDING Support for Dr. Alan Muney and Kim Rivera – the Only Directors Standing for Re-Election at the Annual Meeting Reiterates the Group is Awaiting a Resolution of its Litigation to Compel Cano to Reopen Window for Nominating Director Candidates and Making Proposals at the Annual Meeting Elliot Cooperstone, Lewis Gold and Barry Sternlicht today released the following letter to Cano Health, Inc. (NYSE:CANO) stockholders: Fellow Stockholder, The three of us – Elliot Cooperstone, Lewis Gold and Barry Sternlicht (collectively with our affiliates, the "Group" or "we") – hold an approximately 35% equity stake in Cano
Draws a sharp contrast between the Board and management's clear long-term stockholder value creation plan and the former directors' short-term, self-interested agenda Urges stockholders to vote on the WHITE proxy card "FOR" re-election of the Company's directors and the proposed reverse stock split MIAMI, May 31, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today announced that it has published an investor presentation to its investor relations website in connection with its upcoming Annual Stockholders' Meeting (the "Annual Meeting"), scheduled for June 15, 2023. The presentation is also b
MIAMI, May 31, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today announced the appointment of Frederick S. Green as its Interim Chief Legal Officer, effective immediately. In this role, Mr. Green will work closely with the Company's Board and management team to implement and maintain best-in-class corporate governance practices, support execution of the Company's stockholder value creation strategy, and identify a permanent successor for his position. Mr. Green brings approximately 40 years of experience advising Boards of Directors and management teams of public companies with respect to
Group Believes Board Has Disregarded Shareholders' Concerns by Appointing Solomon Trujillo as "Independent" Chairman Highlights Conflicting Financial Arrangements and Interlocks Among Board Members, Including Mr. Trujillo and Chief Executive Officer Marlow Hernandez Reiterates Demand that the Board Respect the Wishes of Shareholders by Making Necessary Leadership Changes or Reopening the Window to Nominate Director Candidates and Submit Proposals at 2023 Annual Meeting Elliot Cooperstone, Lewis Gold and Barry Sternlicht (collectively with certain of their affiliates, the "Group" or "we"), who recently resigned as members of the Board of Directors (the "Board") of Cano Health, Inc. ("C
Board of Directors underscores deep confidence in Company's fundamentals and strong long-term value creation potential Highlights immediate action being taken to realize intrinsic value of business model by driving greater efficiency, productivity, and sustainable profitability Former directors' disruptive and selective criticisms of past decisions they themselves architected, supported, and approved are in service of personal short-term gain over long-term interests of shareholders MIAMI, April 17, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today issued the following letter from its Boar
MIAMI, Aug. 9, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO), announced today that it has rescheduled its second quarter 2023 earnings release and conference call to tomorrow afternoon. A press release with the business and financial results will be issued on Thursday, August 10, 2023 after the market closes, and the Company will host a conference call at 5:00 PM Eastern Time the same day to review its business and financial results. The earnings release and call were previously scheduled for today after the market close. To access the li
MIAMI, July 25, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO), a leading value-based primary care provider and population health company, will release its financial results for the second quarter 2023 after the market closes on Wednesday, August 9, 2023, and will host a conference call at 5:00 PM Eastern Time the same day to review its business and financial results. To access the live call and webcast, please dial (888) 660-6359 for U.S. participants, or (929) 203-0867 for international participants, referencing the Cano Health Second Qu
Raises guidance for full year 2023 membership and total revenue; maintains outlook for medical cost ratio and Adjusted EBITDA Pursuing divestiture of certain non-core assets to strengthen its focus on high-performing Medicare Advantage business MIAMI, May 9, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO), a leading value-based primary care provider and population health company, today announced financial results for the first quarter ended March 31, 2023. First Quarter 2023 Financial Results Total membership of 388,667 including 207,420 Med
MIAMI, April 25, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO), a leading value-based primary care provider and population health company, will release its financial results for the first quarter 2023 after the market closes on Tuesday, May 9, 2023, and will host a conference call at 5:00 PM Eastern Time the same day to review its business and financial results. To access the live call and webcast, please dial (888) 660-6359 for U.S. participants, or (929) 203-0867 for international participants, referencing the Cano Health First Quarter
MIAMI, March 1, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO), a leading value-based primary care provider and population health company, today announced financial results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter 2022 Financial Results Total membership of 309,590 including 179,536 Medicare capitated members, an increase of 36% and 42% year-over-year, respectivelyTotal revenue of $680.4 million, compared to $492.3 million the prior year, an increase of 38% year-over-yearNet loss of $(301.7) million, unfav
MIAMI, Feb. 21, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO), a leading value-based primary care provider and population health company, will release its financial results for the fourth quarter and full year 2022 after the market closes on Wednesday, March 1, 2023, and will host a conference call at 5:00 PM Eastern Time the same day to review its business and financial results. To access the live call and webcast, please dial (888) 660-6359 for U.S. participants, or (929) 203-0867 for international participants, referencing the Cano Hea
CORAL GABLES, Fla., Jan. 02, 2023 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. (NASDAQ:MSPR) ("MSPR", "MSP Recovery", the "Company," or "LIFW"), which recently announced that it will begin doing business as LifeWallet in 2023 and that its ticker symbol will change to "LIFW" at the beginning of 2023, today announced that the Company entered into a term sheet relating to the sale of a portion of its Company owned Assignor Interests, as defined and as further described below, and certain other transactions (the "Term Sheet"). In the ordinary course of its business, LIFW acquires assignments of recoveries from health insurance payors, healthcare providers and others, and uses its proprietary multi-
MIAMI, Nov. 9, 2022 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO), a leading value-based primary care provider and population health company, today announced financial results for the third quarter ended September 30, 2022. Third Quarter Financial Results Total membership of 294,596, including 168,346 Medicare capitated members, an increase of 40% year-over-year for bothTotal revenue of $665.0 million, an increase of 33% year-over-yearNet loss of $(112.0) million, unfavorably impacted by a $65.7 million fair value adjustment of warrant liabilit
MIAMI, Oct. 26, 2022 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO), a leading value-based primary care provider and population health company, will host a conference call on Wednesday, November 9, 2022, at 5:00 PM Eastern Time to review the Company's business and financial results for the third quarter ended September 30, 2022. A press release with the results will be issued prior to the call. To access the live call and webcast, please dial (888) 660-6359 for U.S. participants, or (929) 203-0867 for international participants, referencing the
MIAMI, Aug. 9, 2022 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE:CANO), a leading value-based primary care provider and population health company, today announced financial results for the second quarter ended June 30, 2022. Second Quarter Financial Results Total membership of 281,525, including 163,947 Medicare capitated members, an increase of 80% and 47%, respectively year-over-yearTotal revenue of $689.4 million, an increase of 101% year-over-yearNet loss of ($14.6) million, benefiting from a $30.2 million fair value adjustment of warrant liabil