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. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.