Traders are flocking around Cerner Corp, Change Healthcare Inc., Amerisourcebergen Corp and others; check out these health care stocks that are displaying higher than typical trading volumes.
What is happening with the market now? Markets are up as Dow Jones up to 33,339, gaining 1.56%. S&P 500 goes up 1.23%, trading at 3,853.47.
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.
While trading was mostly up yesterday, some health care stocks have high volumes. Take a look.
38.20 million traded volume exceeded the daily average by 777%: Stagnant Cerner mostly flat, trades at $94.92
A blockbuster trading session for Cerner Corp, eclipsing its average daily volume by 777% and recording 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.
Having set a significant high of $94.97 11 months ago, the supplier of healthcare information technology is trading 35.58% lower. So far in 2022, it has been outperforming the Nasdaq by 52.11%. The company’s market cap is $27.74 billion with an average daily trading volume of 4.92 million shares. Cerner is forecasted to generate revenues of $1.47 billion and EPS of 87.15 cents.
Beating the average by 215%: Bullish phase under threat as Change Healthcare stays range-bound
Change Healthcare is having an eventful day so far, currently at 28.98 million and outpacing its average daily volume by 215%. While Change Healthcare is on a month bullish trend, today’s session might suggest a slow down — Change Healthcare trades at $27.49, after ending yesterday at $27.49.
Change Healthcare now trading 13.45% above its 3-month low of $19.1. The company has a market cap of $9 billion with an average daily volume of 13.47 million shares. Change Healthcare expected revenue of $839.65 million with an EPS of 22 cents.
4.17 million traded volume exceeded the daily average by 357%: After three days of going up, AmerisourceBergen is down 1.32% today, indicating that the rally may be coming to an end
A hectic day for AmerisourceBergen, surpassing its average daily volume by 357% to reach 4.17 million. While AmerisourceBergen is on a 4 day uptrend now turning against its recent performance, AmerisourceBergen drops 1.32% in early trade and remains within touching distance of the $159.87 level.
AmerisourceBergen now trading 15.21% above its 3-month low of $114.08. So far in 2022, it has performed better than the S&P 500 by 48.16%. The company has a market cap of $33.13 billion with an average daily trading volume of 1.17 million shares.
AmerisourceBergen is down despite the fact that on Thursday the company released its quarterly earnings, beating analysts estimates. The company reported earnings of 2.6 per share on revenue of $61.17 billion, topping estimates of 2.58 per share on revenue of $60.54 billion.
— Average trading volume refers to a 21-day rolling average.