5 Best Medical Stocks Under $10

3. Cano Health, Inc. (NYSE:CANO)

Number of Hedge Fund Holders: 38

Stock Price as of August 2: $6.42

Cano Health, Inc. (NYSE:CANO) is a Miami, Florida-based primary care provider.

On June 24, John Ransom at Raymond James initiated coverage on Cano Health, Inc. (NYSE:CANO) with an ‘Outperform’ rating and a target price of $8. The analyst thinks that the entity is in a position to deliver growth driven by the support of Medicare Advantage. Cano Health, Inc. (NYSE:CANO) is planning to deliver 44% YoY growth by adding 54 to 59 new medical centers into its network in 2022. The analyst anticipates the company’s revenue will compound annually by 30%, while adjusted EBITDA will grow at a 20% CAGR through 2024. Ransom also added that Cano Health, Inc.’s (NYSE:CANO) focus on the build-buy-manage strategy sets the company apart from its competitors.

Of the 912 hedge funds in Insider Monkey’s database, 38 elite funds held a stake in Cano Health, Inc. (NYSE:CANO) at the end of Q1 2022.