NEW YORK ( TheStreet) -- ArthroCare Corporation (Nasdaq: ARTC) hit a new 52-week high Wednesday as it traded at $34.34 compared with its previous 52-Week high of $34.25. ArthroCare is changing hands at $34.08 with 10,221 shares traded as of 9:58 a.m. ET. Average volume has been 202,500 shares over the past 30 days.

ArthroCare has a market cap of $919 million and is part of the health care sector and health services industry. Shares are up 10.1% year to date as of the close of trading on Tuesday.

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 32.8, below the average health services industry P/E ratio of 33.1 and above the S&P 500 P/E ratio of 23.2.

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 company's return on equity has been disappointing. You can view the full ArthroCare Ratings Report.

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