Shares of ArthroCare Corporation (Nasdaq:ARTC) were gapping down Friday morning with an open price 17.1% lower than Thursday's closing price. The stock closed at $30.77 yesterday and opened today's trading at $25.52.
NEW YORK ( TheStreet) -- Shares of ArthroCare Corporation (Nasdaq: ARTC) were gapping down Friday morning with an open price 17.1% lower than Thursday's closing price. The stock closed at $30.77 Thursday and opened today's trading at $25.52. The average volume for ArthroCare has been 176,300 shares per day over the past 30 days. ArthroCare has a market cap of $839.1 million and is part of the health care sector and health services industry. Shares are down 2.9% year to date as of the close of trading on Thursday. ArthroCare Corporation, a medical device company, develops, manufactures, and markets surgical products primarily based on its minimally invasive patented Coblation technology. The company has a P/E ratio of 30.3, below the average health services industry P/E ratio of 30.8 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates ArthroCare as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and weak operating cash flow. You can view the full ArthroCare 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.