Sonova (OTCMKTS:SONVY) Sets New 1-Year High – Time to Buy?

Sonova Holding (OTCMKTS:SONVY) shares hit a new 52-week high on Tuesday. The stock traded as high as $61.18 and last traded at $61.10, with a volume of 1038 shares trading hands. The stock had previously closed at $60.80.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SONVY. Citigroup reaffirmed a “sell” rating on shares of Sonova in a report on Friday, July 24th. Morgan Stanley raised shares of Sonova from an “underweight” rating to an “equal weight” rating in a report on Tuesday, June 23rd. Finally, UBS Group upgraded shares of Sonova from a “hold” rating to a “buy” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Sonova Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.43 and a current ratio of 1.75. The stock has a 50-day moving average of $58.31 and a 200-day moving average of $51.87.

About Sonova

Sonova Holding AG is a Switzerland-based hearing-care company that develops, manufactures and distributes solutions for people with hearing loss. Its products and services include hearing aids, cochlear implants, wireless communication systems and related accessories, as well as professional hearing-care services.

The company’s portfolio includes well-known brands such as Phonak, Unitron and Advanced Bionics. Sonova also operates hearing-care retail businesses in several markets, serving customers through audiology clinics, specialist retailers and other distribution channels.

Founded in 1947 and headquartered in Stäfa, Switzerland, Sonova serves customers through operations and sales networks across Europe, North America, Asia-Pacific and other international markets.