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TheStreet Wire

Palomar Medical Stock Gaps Down On Today's Open (PMTI)

By TheStreet Wire 02/09/12 - 08:53 AM EST

Find out if (PMTI) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Shares of Palomar Medical Technologies (Nasdaq:PMTI) were gapping down Thursday morning with an open price 10.3% lower than Wednesday's closing price. The stock closed at $9.23 Wednesday and opened today's trading at $8.28.

The average volume for Palomar Medical has been 93,900 shares per day over the past 30 days. Palomar Medical has a market cap of $184.3 million and is part of the health care sector and health services industry. Shares are down 0.8% year to date as of the close of trading on Wednesday.

Palomar Medical Technologies, Inc., together with its subsidiaries, designs, manufactures, markets, and sells lasers and other light-based products, and related disposable items and accessories for use in dermatology and cosmetic procedures. The company has a P/E ratio of 25.4, equal to the average health services industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Palomar Medical as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Palomar Medical Ratings Report.

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