Sonova (OTCMKTS:SONVY) Stock Passes Below Fifty Day Moving Average - What's Next?

Key Points

• Sonova Holding shares have fallen below their 50-day moving average of $58.16, closing at $57.02 after reaching a low of $56.95 during trading on Tuesday.
• Recent analyst ratings show a divided opinion, with one analyst rating the stock as a Strong Buy, while four others issued Sell ratings, leading to a consensus rating of "Reduce".
• The company increased its dividend to $0.6243 per share, with a notable dividend yield of 99.0%, up from its previous dividend of $0.57.

Sonova Holding (OTCMKTS:SONVY - Get Free Report) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $58.16 and traded as low as $56.95. Sonova shares last traded at $57.02, with a volume of 30,932 shares.

Analyst Upgrades and Downgrades

SONVY has been the topic of several research reports. Hsbc Global Res downgraded shares of Sonova from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 21st. Barclays lowered shares of Sonova from a "hold" rating to a "strong sell" rating in a report on Friday, June 20th. Sanford C. Bernstein raised Sonova from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 18th. HSBC downgraded Sonova from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Kepler Capital Markets raised Sonova from a "strong sell" rating to a "hold" rating in a research note on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce".

Sonova Stock Up 1.3%

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.27 and a quick ratio of 0.96. The company's 50 day simple moving average is $58.16 and its 200 day simple moving average is $60.72.

Sonova Increases Dividend

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

Sonova Company Profile

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.

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