Cano Health (NYSE:CANO) rose 1.5% amid an 8.67 million share block trade.
The Cano (CANO) block trade occurred earlier Tuesday at $1.68/share.
The block trade comes as Cano Health (CANO) has been a takeover target for months after a report that CVS Health (CVS) was in talks to acquire the primary care provider and after other M&A in the sector.
Cano Health shares (CANO) have plunged almost 80% since mid-October after a report that talks with CVS had ended.
CVS (CVS) management said on the company's Q3 earnings call earlier this month that the company is continuing to look at possible M&A in the primary care space, though at the company's current valuation, M&A deals are likely less accretive than share repurchase.
