NEW YORK ( TheStreet) -- Shares of China Medical Technologies (Nasdaq: CMED) have taken a tremendous swing upward. The stock is trading at $3.12 as of 11 a.m. ET, 21.4% above Tuesday's closing price of $2.57. Volume is at 1.4 million, 3.6 times the daily average of 375,600. China Medical has a market cap of $109.1 million and is part of the health care sector and health services industry. Shares are down 77.1% year to date as of the close of trading on Tuesday. China Medical Technologies, Inc., a medical device company, develops, manufactures, and markets immunodiagnostic and molecular diagnostic products. The company has a P/E ratio of seven, above the average health services industry P/E ratio of 3.9 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates China Medical as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and generally poor debt management. You can view the full China Medical Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center. Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.