NEW YORK ( TheStreet) -- Stryker Corporation (NYSE: SYK) hit a new 52-week high Wednesday as it traded at $60.62 compared with its previous 52-Week high of $60.59. Stryker is changing hands at $60.63 with 67,849 shares traded as of 9:42 a.m. ET. Average volume has been 1.9 million shares over the past 30 days. Stryker has a market cap of $24 billion and is part of the health care sector and health services industry. Shares are up 12.2% year to date as of the close of trading on Tuesday. Stryker Corporation, together with its subsidiaries, operates as a medical technology company worldwide. The company operates in two segments, Orthopaedic Implants and MedSurg Equipment. The company has a P/E ratio of 18.2, below the average health services industry P/E ratio of 19 and below the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates Stryker as a buy. 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, reasonable valuation levels, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Stryker Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.