Cerner Corp, Syneos Health, Inc., Insulet Corporation and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Leading equity indices in the US rose as Dow Jones ended the session at 32,400 after a 1.26% gain. S&P 500 ended the session at 3,770.55 after a 1.36% gain.
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.
Price action was mostly bullish Friday with some health care stocks recording abnormally high trading volumes. Here's a recap:
Cerner | 777% above rolling average Continuing its recent sideways trend, Cerner closed at $94.92 after a flat day Friday
Cerner Corp outpaced its average daily trading volume (4.92 million) with 38.20 million shares traded Friday. With around a month of flat trade under its belt, pointing in a similar direction, Friday's session was more of the same — Cerner moves 0% to close at $94.92 Friday.
Cerner hit a significant low of $70 around 11 months ago, but has since recovered 35.58%. So far in 2022 it has been beating the Nasdaq by 54.04%. Cerner's market cap is currently $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.
Syneos Health | 729% higher than rolling average Bearish session pushes Syneos Health to record lows around $22.11
With 7.36 million shares traded Friday, Syneos Health beat its daily average by 729% to cap off a frenetic trading day. Syneos Health has lost 49.33% over the last 6 days. Friday's session continued the recent downtrend: after ending Thursday at $47.81, Syneos Health declined to $22.9 Friday before closing at $25.7, thereby losing 46.25% in total.
Insulet | 426% higher than rolling average Insulet on track to post record single day jump of $57.65 points (+22.58%)
With 2.30 million shares traded Friday, Insulet beat its daily average by 426% to cap off a frenetic trading day. Insulet ended Thursday's session at $255.35. Friday started with an increase to $320, but dropped back and closed at $313.
Insulet has appreciated 72.63% over the past six months. So far in 2022, it has been outperforming the Nasdaq by 68.91%. Insulet's market cap currently stands at $21.72 billion with an average daily trading volume of 541,119 shares.
— Average trading volume refers to a 21-day rolling average.