A busy day for Cerner Corp, Change Healthcare Inc., DaVita Inc, being the prominent health care stocks displaying higher volumes than usual.
A quick recap of where the last trading session ended: Leading equity indices in the US declined as Nasdaq slipped 1.03% and closed at 11,000. S&P 500 closed at 3,872, a 0.75% change.
Why trading volume matters?
Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.
Though trading was down yesterday, some health care stocks reached high volumes. Here is an update.
Cerner | 777% above rolling average Following a flat day yesterday, Cerner closed at $94.92 continuing its recent flat trend
With 38.20 million shares traded yesterday, Cerner Corp beat its daily average by 777% to cap off a frenetic trading day. Following a month of flat trade, pointing in a similar direction, yesterday's session was more of the same — Cerner moves 0% to close at $94.92 yesterday.
Having set a significant high of $94.97 10 months ago, the healthcare information technology supplier is trading 35.58% lower. So far in 2022 it has been beating the Nasdaq by 45.81%. Cerner's market cap is currently $27.74 billion with an average daily volume of 4.92 million shares. Cerner is forecasted to generate revenues of $1.47 billion and EPS of 87.15 cents.
Change Healthcare | 215% above rolling average Change Healthcare closes at $27.49 ahead of quarterly performance report to be released today
Change Healthcare outpaced its average daily trading volume (13.47 million) with 28.98 million shares traded yesterday. Stable at $27.49 and still trending upwards, yesterday's session put the brakes on the ongoing uptrend — Change Healthcare moves 0% to close at $27.49 yesterday.
Change Healthcare is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is 0.22 and the consensus revenue estimate is $839.65 million.
DaVita | 349% higher than rolling average DaVita closes at $73 after gaining 3.5%
Trading volume peaked at 3.36 million shares yesterday, thereby obliterating the daily average of 960,697 by 349%. DaVita went up to $73, gaining 3.5%.
DaVita is now trading 42.83% below the significant high of $123.38 it set around 6 months ago. So far in 2022, it has been doing worse than the S&P by 13.98%. The company has a market cap of $6.67 billion with an average daily trading volume of 960,697 shares.
— Average trading volume refers to a 21-day rolling average.