Shares of Conceptus (Nasdaq:CPTS) were gapping down Wednesday morning with an open price 13.9% lower than Tuesday's closing price. The stock closed at $15.09 yesterday and opened today's trading at $13.
NEW YORK ( TheStreet) -- Shares of Conceptus (Nasdaq: CPTS) were gapping down Wednesday morning with an open price 13.9% lower than Tuesday's closing price. The stock closed at $15.09 Tuesday and opened today's trading at $13. The average volume for Conceptus has been 220,500 shares per day over the past 30 days. Conceptus has a market cap of $464.8 million and is part of the health care sector and health services industry. Shares are up 9.3% year to date as of the previous trading day's close. Conceptus, Inc. designs, develops, and markets minimally invasive devices for reproductive medical applications. It offers Essure, a permanent birth control system for women. The company has a P/E ratio of 5.8, equal to the average health services industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Conceptus as a hold. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow. You can view the full Conceptus Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.