The highest volumes today go to: Cerner Corp, Change Healthcare Inc., Tandem Diabetes Care, Inc..
A short overview of the current market situation: The leading indices are currently lower — Nasdaq slipping 1.1% and closing at 10,400. S&P 500 drawing back 0.48% to 3,741.5.
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 are currently at high volumes. Here is an update.
Eclipsing the average by 777%: Cerner still looks indecisive as it trades even at $94.92
A hectic day for Cerner Corp, surpassing its average daily volume by 777% to reach 38.20 million. It's been more of the same this session on the back of a month of flat trade, today's session so far looks to be heading in a similar way — Cerner trades at $94.92, after ending yesterday at $94.92.
The supplier of healthcare information technology is up 35.58% from the significant low of $70 it hit 11 months ago. So far in 2022, it has performed better than the Nasdaq by 52.67%. The company's market cap is $27.74 billion with an average daily trading volume of 4.92 million shares. Cerner expected revenue of $1.47 billion with an EPS of 87.15 cents.
215% improvement: Change Healthcare remains on-trend despite dull session
Change Healthcare is having an eventful day so far, currently at 28.98 million and outpacing its average daily volume by 215%. Stable at $27.49 and still trending upwards, today's session might suggest a slow down — Change Healthcare trades at $27.49, after ending yesterday at $27.49.
The past 3 months have been positive for Change Healthcare as it added 13.45% compared to its 3-month low of $19.1. Change Healthcare's market cap currently stands at $9 billion with an average daily volume of 13.47 million shares.
5.58 million traded volume exceeded the daily average by 660%: Tandem Diabetes Care on track to close around $36.97 after losing 28%
A blockbuster trading session for Tandem Diabetes Care, eclipsing its average daily volume by 660% and recording 5.58 million. In the last 3 days, Tandem Diabetes Care has lost a total of 34.17% of its value. more of the same today: as the current session draws to a close, Tandem Diabetes Care remains in the $36.61 – $40.54 range after closing yesterday at $51.34 and dropping by 28%.
Approximately 10 months ago, Tandem Diabetes Care reached a significant high of $153.21 but has struggled to hold onto its gains and declined 66.49% since then. The company has a market cap of $2.37 billion with an average daily volume of 846,117 shares.
The company reported earnings of -0.27 per share yesterday, falling short of expectations of -0.05. Revenue was also lower than expected at $204.55 million versus $207.7 million. Tandem Diabetes Care lost 34% since the release of its earnings report.
— Average trading volume refers to a 21-day rolling average.