NEW YORK ( TheStreet) -- Merit Medical Systems (Nasdaq: MMSI) hit a new 52-week high Thursday as it is currently trading at $23.50, above its previous 52-week high of $23.47 with 383,789 shares traded as of 3:57 p.m. ET. Average volume has been 231,500 shares over the past 30 days.

Merit Medical Systems has a market cap of $638.6 million and is part of the health care sector and health services industry. Shares are up 40.4% year to date as of the close of trading on Wednesday.

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 43.6, below the average health services industry P/E ratio of 44.5 and above the S&P 500 P/E ratio of 16.4.
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TheStreet Ratings rates Merit Medical Systems as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, expanding profit margins, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Merit Medical Systems Ratings Report.

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