NEW YORK ( TheStreet) -- Merit Medical Systems (Nasdaq: MMSI) hit a new 52-week high Wednesday as it traded at $18.17 compared with its previous 52-Week high of $18.15. Merit Medical Systems is changing hands at $18.17 with 67,405 shares traded as of 12:46 p.m. ET. Average volume has been 159,000 shares over the past 30 days. Merit Medical Systems has a market cap of $507.4 million and is part of the health care sector and health services industry. Shares are up 13.7% year to date as of the close of trading on Tuesday. Merit Medical Systems, Inc. designs, develops, manufactures, and markets single-use medical products for interventional and diagnostic procedures worldwide. The company's cardiology and radiology products include percutaneous coronary interventions and percutaneous peripheral interventions. The company has a P/E ratio of 20.6, below the average health services industry P/E ratio of 41.7 and above the S&P 500 P/E ratio of 16. TheStreet Ratings rates Merit Medical Systems as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share. You can view the full Merit Medical Systems Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.