China Medical Stock Gaps Down On Today's Open (CMED)

NEW YORK ( TheStreet) -- Shares of China Medical Technologies (Nasdaq: CMED) were gapping down Friday morning with an open price 30.2% lower than Thursday's closing price. The stock closed at $3.67 Thursday and opened today's trading at $2.56.

The average volume for China Medical has been 705,200 shares per day over the past 30 days. China Medical has a market cap of $116.5 million and is part of the health care sector and health services industry. Shares are up 29.2% year to date as of the close of trading on Thursday.

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 7.5, above the average health services industry P/E ratio of 4.2 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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