NEW YORK ( TheStreet) -- Shares of SonoSite (Nasdaq: SONO) have taken a tremendous swing upward. The stock is trading at $37.30 as of 12:01 p.m. ET, 21.2% above Wednesday's closing price of $30.78. Volume is at 462,769, 3.2 times the daily average of 146,800.

SonoSite has a market cap of $417.9 million and is part of the health care sector and health services industry. Shares are down 2.6% year to date as of the close of trading on Wednesday.

SonoSite, Inc. develops, manufactures, and distributes hand-carried ultrasound systems for use across medical specialties and in a range of treatment settings. The company has a P/E ratio of 70, equal to the average health services industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates SonoSite as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity. You can view the full SonoSite Ratings Report.

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