Watch Cano Well being inventory forward of CVS Well being Q3 earnings (NYSE:CANO)

Traders might wish to take note of Cano Well being (NYSE:CANO) forward of CVS Well being (NYSE:CVS) third quarter earnings and convention name on Wednesday.

Recall Bloomberg final month printed a narrative that stated CVS Well being (CVS) was stated to be in unique talks to accumulate Cano Well being (CANO), although CVS has reportedly walked away from the discussions, in line with a Dealreporter merchandise.

CVS by no means formally commented on the stories and Wednesday’s earnings name would be the first time that they might be requested by analysts/traders to handle the hypothesis. Cano (CANO) shares plunged 43% on Oct. 17 when the report got here out that CVS had left talks to buy CANO and the shares have fallen one other 25% since then. The shares dropped 5% on Monday and have ticked greater on Tuesday.

Final Wednesday Cano Well being (CANO) was minimize to impartial from outperform at Credit score Suisse, with the analyst writing that after the report that the first well being care supplier was stated to be now not in talks to be bought to CVS, it could be greatest to maneuver to the sidelines till there’s readability.

Cano Well being (CANO) brief curiosity is 14%.

Cano Well being (CANO) is scheduled to report is Q3 outcomes subsequent Wednesday.

Additionally recall on Sunday Bloomberg reported that VillageMD, which is majority owned by Walgreens Boots (WBA) is claimed to evaluating a deal to merge with Warburg Pincus-backed Summit Well being, the mum or dad of CityMD.