Sonova (OTCMKTS:SONVY) Shares Gap Up – Still a Buy?

Sonova Holding (OTCMKTS:SONVY)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $49.24, but opened at $53.0050. Sonova shares last traded at $52.42, with a volume of 1,265 shares.

Analysts Set New Price Targets

Several analysts have issued reports on SONVY shares. Morgan Stanley raised shares of Sonova from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, June 23rd. Citigroup reaffirmed a “sell” rating on shares of Sonova in a research report on Wednesday, May 13th. Finally, UBS Group raised Sonova from a “hold” rating to a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold”.

Sonova Price Performance

The business’s 50 day simple moving average is $50.35 and its 200-day simple moving average is $49.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.43 and a current ratio of 1.75.

About Sonova

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.