NEW YORK ( TheStreet) -- Shares of Conceptus (Nasdaq: CPTS) were gapping up Friday morning with an open price 13.3% higher than Thursday's closing price. The stock closed at $10.57 Thursday and opened today's trading at $11.98.

The average volume for Conceptus has been 361,000 shares per day over the past 30 days. Conceptus has a market cap of $360.2 million and is part of the health care sector and health services industry. Shares are down 23.4% year to date as of the close of trading on Thursday.

Conceptus, Inc. designs, develops, and markets minimally invasive devices for reproductive medical applications primarily in the United States, France, and Europe. It provides Essure, a permanent birth control system that delivers a soft and flexible insert into a woman's fallopian tubes. The company has a P/E ratio of 4.5, 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 notable return on equity, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share. You can view the full Conceptus Ratings Report.

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