Cano Health falls on weak 2023 revenue forecast

Cano Health

02/03/2023 11:02

** Shares of health insurer Cano Health  CANO.N  down 16.6%
at $1.31 before the bell 
    ** Co sees 2023 revenue between $3.10 and $3.25 billion,
below analysts' expectations of $3.25 billion at midpoint -
Refinitiv 
    ** CANO reported Q4 revenue of $680.4 million, better than
analysts' expectations of $654.5 million 
    ** Co posts Q4 loss of 61 cents per share on GAAP basis 
    ** Three of 11 brokerages rate the stock "buy" or higher, 6
rate it "hold" and 2 rate it "sell"; their median PT is $4
    ** As of last close, CANO up ~15% so far this year 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))