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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.