Cerner Corp, Change Healthcare Inc., Abbott Laboratories and others reached higher-than-usual trading volumes.
Here's an update with information from the last trading session: Leading equity indices in the US declined as S&P 500 was down 0.67% before closing the session at 3,695. Nasdaq lost 0.85% and ended the session at 10,681.
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. More of the same: on a back of a month of trading sideways, 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 11 months ago, the healthcare information technology supplier is trading 35.81% lower. So far in 2022, it has been outperforming the Nasdaq by 50.07%. The company has a market cap of $27.74 billion with an average daily volume of 4.92 million shares. Cerner expected revenue of $1.47 billion with an EPS of 87.15 cents.
Change Healthcare | 215% above rolling average Muted session threatens to disturb Change Healthcare's ongoing uptrend
Trading volume peaked at 28.98 million shares yesterday, thereby obliterating the daily average of 13.47 million by 215%. 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.
The past 3 months have been positive for Change Healthcare as it added 15.7% compared to its 3-month low of $19.1. Change Healthcare's market cap is currently $9 billion with an average daily trading volume of 13.47 million shares. Change Healthcare last reported revenue of $884.47 million with an EPS of 38 cents.
Abbott | 277% above rolling average Bearish session pushes Abbott to record lows around $6.87
With 17.78 million shares traded yesterday, Abbott beat its daily average by 277% to cap off a frenetic trading day. Early in yesterday's session, Abbott dropped to $96.32 from $105 at the end of Tuesday, before closing at $98.11. During the session, it lost 6.54%.
Having set a significant high of $141.46 20 days ago, Abbott is trading 8.5% lower. So far in 2022, it has performed better than the S&P by 1.56%. The company's market cap is $171.81 billion with an average daily trading volume of 6.43 million shares.
— Average trading volume refers to a 21-day rolling average.