| 
May 12, 2023
Take a look at the following healthcare stocks that showed higher volumes than usual: Abiomed, Signify Health, Inc., Syneos Health, Inc..
Today's session summary: Leading equity indices in the US declined as Nasdaq closed at 12,300, a 0.35% change. S&P 500 was down 0.16% before closing the session at 4,124.
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 today, some healthcare stocks reached high volumes. Here is an update.
Abiomed | 506% above rolling average
Abiomed outpaced its average daily trading volume (3.10 million) with 15.70 million shares traded today.
The stock has been trending positively for about 3 months.
Signify Health | 261% above rolling average
Following a month of flat trade, Pointing in a similar direction, today's session was more of the same — Signify Health moves 0.07% to close at $30.49 today.
Trading volume peaked at 9.63 million shares today, thereby obliterating the daily average of 3.69 million by 261%.
Syneos Health | 243% higher than rolling average
Today's trading volume was 7 million shares (surpassing the daily average by 243%).
The management consulting company has fallen back around 47.31% from the significant high of $79.14 set 9 months ago. While Syneos Health is on a 3 day uptrend
— Average trading volume refers to a 21-day rolling average.
