Sonova (OTCMKTS:SONVY) Shares Pass Below 50 Day Moving Average - Here's What Happened

Key Points

• Sonova's stock price fell below its 50-day moving average of $60.02, trading as low as $53.47, with a last price of $53.86.
• Several analysts have provided mixed ratings on Sonova, with a consensus rating of "Hold", noting upgrades and downgrades from various financial institutions.
• Sonova recently increased its dividend to $0.6243 per share, representing a substantial yield of 99.0% to its shareholders.

Sonova Holding (OTCMKTS:SONVY - Get Free Report) shares passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $60.02 and traded as low as $53.47. Sonova shares last traded at $53.86, with a volume of 30,420 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SONVY. Hsbc Global Res downgraded Sonova from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 21st. Sanford C. Bernstein raised Sonova from a "hold" rating to a "strong-buy" rating in a report on Friday, July 18th. Kepler Capital Markets raised Sonova from a "strong sell" rating to a "hold" rating in a report on Friday, June 6th. Barclays downgraded Sonova from a "hold" rating to a "strong sell" rating in a report on Friday, June 20th. Finally, BNP Paribas downgraded Sonova from a "strong-buy" rating to a "strong sell" rating in a report on Wednesday, June 11th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sonova currently has an average rating of "Hold".

Sonova Stock Performance

The stock has a 50 day moving average price of $59.46 and a two-hundred day moving average price of $61.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.27 and a quick ratio of 0.96.

Sonova Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.6243 per share. This is a boost from Sonova's previous dividend of $0.57. The ex-dividend date was Monday, June 16th. This represents a yield of 99.0%.

About Sonova

Sonova Holding AG manufactures and sells hearing care solutions for adults and children in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Hearing Instruments and Cochlear Implants segments. The Hearing Instruments segments engages in the design, development, manufacture, distribution, and service of hearing instruments and related products, as well as wireless headsets, speech-enhanced hearables, and audiophile headphones under the Phonak, Unitron, Hansaton, and Sennheiser brand names; and audiological care services under the AudioNova, Audium, Audition Santé, Boots Hearingcare, Connect Hearing, Geers, Hansaton, Lapperre, Schoonenberg, and Triton Hearing brands.