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.

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