Cano Health, Inc. (NYSE:CANO) insiders need another US$1.6m to breakeven on a US$2.0m stock purchase even after recent gains

Simply Wall St
·3 min read

Insiders who bought US$2.0m worth of Cano Health, Inc. (NYSE:CANO) stock in the last year have seen some of their losses recouped as the stock gained 12% last week. The purchase, however, has proven to be a pricey bet, with losses currently totalling US$1.6m.

While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether.

Check out our latest analysis for Cano Health

The Last 12 Months Of Insider Transactions At Cano Health

In the last twelve months, the biggest single purchase by an insider was when Independent Director Lewis Gold bought US$2.0m worth of shares at a price of US$6.81 per share. That means that an insider was happy to buy shares at above the current price of US$1.39. It's very possible they regret the purchase, but it's more likely they are bullish about the company. To us, it's very important to consider the price insiders pay for shares. Generally speaking, it catches our eye when an insider has purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. Lewis Gold was the only individual insider to buy during the last year.

The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

insider-trading-volume
insider-trading-volume

Cano Health is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Insider Ownership

For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 9.9% of Cano Health shares, worth about US$68m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Does This Data Suggest About Cano Health Insiders?

It doesn't really mean much that no insider has traded Cano Health shares in the last quarter. On a brighter note, the transactions over the last year are encouraging. Overall we don't see anything to make us think Cano Health insiders are doubting the company, and they do own shares. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Cano Health. At Simply Wall St, we've found that Cano Health has 3 warning signs (1 can't be ignored!) that deserve your attention before going any further with your analysis.

Of course Cano Health may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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