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

Shares of Sonova Holding (OTCMKTS:SONVY) gapped up before the market opened 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 traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SONVY. Morgan Stanley upgraded Sonova from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, June 23rd. UBS Group raised Sonova from a “neutral” rating to a “buy” rating in a report on Wednesday. Finally, Citigroup reiterated a “sell” rating on shares of Sonova in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Sonova Stock Up 6.3%

The company has a quick ratio of 1.43, a current ratio of 1.75 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $50.08 and its 200 day moving average is $49.71.

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.