NEW YORK ( TheStreet) -- ArthroCare Corporation (Nasdaq: ARTC) is trading at unusually high volume Thursday with 754,043 shares changing hands. It is currently at 4.6 times its average daily volume and trading up $2.40 (+8.1%) at $31.92 as of 12:35 p.m. ET. ArthroCare has a market cap of $797.4 million and is part of the health care sector and health services industry. Shares are down 5% year to date as of the close of trading on Wednesday. Arthrocare Corporation, a medical device company, develops, manufactures, and markets surgical products primarily based on its minimally invasive patented Coblation technology. The company has a P/E ratio of 29.8, below the average health services industry P/E ratio of 30.1 and above the S&P 500 P/E ratio of 23.5. TheStreet Ratings rates ArthroCare 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 experienced relatively poor performance when compared with the S&P 500 during the past year. You can view the full ArthroCare Ratings Report.