Adagio Medical (NASDAQ:ADGM) Releases Earnings Results, Misses Expectations By $0.02 EPS

Adagio Medical (NASDAQ:ADGM) announced its quarterly earnings data on Tuesday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02), FiscalAI reports.

Adagio Medical Stock Up 3.2%

Shares of NASDAQ:ADGM traded up $0.03 on Thursday, reaching $0.93. The company had a trading volume of 37,069 shares, compared to its average volume of 105,384. The firm has a market capitalization of $20.66 million, a PE ratio of -0.61 and a beta of -0.14. The company has a current ratio of 2.44, a quick ratio of 2.24 and a debt-to-equity ratio of 1.70. Adagio Medical has a 52-week low of $0.74 and a 52-week high of $2.58. The firm’s 50 day simple moving average is $1.17 and its 200-day simple moving average is $1.04.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADGM. Weiss Ratings cut Adagio Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. Piper Sandler began coverage on Adagio Medical in a report on Tuesday, April 14th. They issued an “overweight” rating and a $3.00 price objective for the company. Finally, Zacks Research upgraded shares of Adagio Medical to a “hold” rating in a report on Wednesday, April 15th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Adagio Medical has a consensus rating of “Hold” and a consensus price target of $3.50.

Hedge Funds Weigh In On Adagio Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADGM. Granite Investment Partners LLC purchased a new position in shares of Adagio Medical in the 1st quarter worth approximately $31,000. Armistice Capital LLC purchased a new stake in Adagio Medical during the 4th quarter worth approximately $497,000. ADAR1 Capital Management LLC purchased a new stake in Adagio Medical during the 4th quarter worth approximately $1,206,000. Adage Capital Partners GP L.L.C. increased its stake in Adagio Medical by 18.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,258,501 shares of the company’s stock valued at $1,309,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in Adagio Medical during the 4th quarter valued at approximately $308,000. Hedge funds and other 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.