Adagio Medical (NASDAQ:ADGM) Releases Earnings Results, Misses Estimates By $0.03 EPS

Adagio Medical (NASDAQ:ADGM) issued its earnings results on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.03), Zacks reports.

Adagio Medical Stock Performance

ADGM stock traded down $0.04 during trading on Wednesday, reaching $0.68. The stock had a trading volume of 214,069 shares, compared to its average volume of 3,406,615. The firm has a market cap of $15.19 million, a PE ratio of -0.45 and a beta of -0.15. The company has a current ratio of 1.85, a quick ratio of 1.66 and a debt-to-equity ratio of 4.00. The stock’s 50 day moving average is $0.62 and its two-hundred day moving average is $0.91. Adagio Medical has a 52 week low of $0.36 and a 52 week high of $2.58.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ADGM. Weiss Ratings upgraded Adagio Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. Zacks Research raised Adagio Medical to a “hold” rating in a research note on Wednesday, April 15th. Finally, Piper Sandler began coverage on Adagio Medical in a research report on Tuesday, April 14th. They set an “overweight” rating and a $3.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Adagio Medical presently has a consensus rating of “Hold” and an average target price of $3.50.

Institutional Investors Weigh In On Adagio Medical

Hedge funds have recently modified their holdings of the business. Cresset Asset Management LLC bought a new position in shares of Adagio Medical during the second quarter worth $39,000. Geode Capital Management LLC boosted its position in shares of Adagio Medical by 88.6% during the 4th quarter. Geode Capital Management LLC now owns 68,342 shares of the company’s stock valued at $71,000 after acquiring an additional 32,100 shares during the last quarter. Perceptive Advisors LLC raised its stake in Adagio Medical by 0.7% during the second quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock valued at $12,840,000 after purchasing an additional 64,157 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Adagio Medical by 17.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 821,261 shares of the company’s stock valued at $1,068,000 after acquiring an additional 121,261 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Adagio Medical during the 4th quarter valued at approximately $308,000. Institutional investors own 48.08% of the company’s stock.

About Adagio Medical

Adagio Medical, Inc (NASDAQ: ADGM) is a medical device company focused on the development and commercialization of a noninvasive system for monitoring intracranial pressure (ICP). The company’s proprietary technology uses tympanic membrane displacement to provide clinicians with real-time estimates of ICP without the risks associated with invasive catheter methods. This approach is designed to improve patient safety, reduce complications, and streamline neurological monitoring in acute and critical care settings.

At the core of Adagio Medical’s pipeline is its ADGM System, which is intended for use in hospitals, emergency departments, and other clinical environments where rapid and accurate assessment of ICP is crucial.