Adagio Medical (NASDAQ:ADGM) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Adagio Medical (NASDAQ:ADGM) announced its earnings results on Tuesday. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03), Zacks reports.

Adagio Medical Price Performance

ADGM traded down $0.05 on Tuesday, hitting $0.70. 505,594 shares of the company’s stock traded hands, compared to its average volume of 3,421,292. The company’s 50 day simple moving average is $0.62 and its 200-day simple moving average is $0.91. The company has a current ratio of 1.85, a quick ratio of 1.66 and a debt-to-equity ratio of 4.00. Adagio Medical has a one year low of $0.36 and a one year high of $2.58. The firm has a market cap of $15.48 million, a price-to-earnings ratio of -0.45 and a beta of -0.15.

Wall Street Analysts Forecast Growth

ADGM has been the topic of several analyst reports. Piper Sandler initiated coverage on shares of Adagio Medical in a research note on Tuesday, April 14th. They set an “overweight” rating and a $3.00 price target on the stock. Zacks Research upgraded Adagio Medical to a “hold” rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings raised Adagio Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.50.

Institutional Investors Weigh In On Adagio Medical

A number of institutional investors have recently added to or reduced their stakes in ADGM. Alyeska Investment Group L.P. bought a new stake in shares of Adagio Medical during the fourth quarter valued at approximately $1,206,000. ADAR1 Capital Management LLC bought a new position in shares of Adagio Medical during the fourth quarter worth $1,206,000. Armistice Capital LLC purchased a new position in Adagio Medical during the fourth quarter valued at $497,000. Hudson Bay Capital Management LP purchased a new position in Adagio Medical during the fourth quarter valued at $308,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Adagio Medical by 18.9% in 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 acquiring an additional 200,000 shares during the last quarter. 48.08% of the stock is owned by hedge funds and other institutional investors.

Adagio Medical Company Profile

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.