Sonova (OTCMKTS:SONVY) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Sonova Holding (OTCMKTS:SONVY) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $54.88 and traded as high as $58.19. Sonova shares last traded at $57.86, with a volume of 6,406 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on SONVY shares. UBS Group raised Sonova from a “hold” rating to a “buy” rating in a research report on Wednesday, July 22nd. Citigroup restated a “sell” rating on shares of Sonova in a research note on Friday, July 24th. Finally, Morgan Stanley raised Sonova from an “underweight” rating to an “equal weight” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Sonova Stock Performance

The firm’s fifty day simple moving average is $54.88 and its 200 day simple moving average is $50.54. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 1.43.

Sonova Company Profile

Sonova AG (OTCMKTS:SONVY) is a Switzerland-based provider of hearing care solutions, headquartered in Stäfa. The company designs, develops, manufactures and distributes a range of audiological products and related services aimed at improving hearing and communication for people with hearing loss. Its portfolio spans behind-the-ear and in-the-ear hearing instruments, wireless accessories and software solutions that enable connectivity with consumer devices and audiological fittings.

Sonova markets its products under several well-known brands, including Phonak and Unitron for hearing aids, and it is also associated with Advanced Bionics for cochlear implant systems.