NEW YORK ( TheStreet) -- Cepheid (Nasdaq: CPHD) is trading at unusually high volume Friday with 3.1 million shares changing hands. It is currently at four times its average daily volume and trading down $1.26 (-3.3%) at $37.29 as of four p.m. ET. Cepheid has a market cap of $2.4 billion and is part of the technology sector and electronics industry. Shares are up 68.7% year to date as of the close of trading on Thursday. Cepheid, a molecular diagnostics company, engages in developing, manufacturing, and marketing integrated systems for testing in the clinical market, as well as for application in legacy biothreat, industrial, and partner markets. The company has a P/E ratio of 959.5, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Cepheid 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 impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Cepheid Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.