shares of cano health inc slid more than 10 wednesday after piper sandler cut its rating and price target on the stock in a research note piper senior research analyst jessica tassan said canos results are increasingly inflated by the consolidation of affiliate providers and that they overstate the companys visibility growth and profitability piper sandler downgraded the stock to underweight from neutral and cut its price target to 5 from 850 saying it cant recommend the shares at current levels the miami operator of primarycare medical centers is the subject of a recent push by activist investor daniel loeb whose third point llc last month reported a nearly 64 stake in cano and called on the company to conduct a review of strategic alternatives including a possible sale cano shares which had hit an alltime low of 417 on march 8 the day before mr loebs disclosure ended march 9 with a gain of more than 40 since then the company has restated its revenue for last year to correct its accounting for certain medicare revenue while its chief financial officer has said that most of canos investors support its strategic direction cano shares were recently changing hands at 559 down 111