Adagio Medical (NASDAQ:ADGM) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

by · The Cerbat Gem

Adagio Medical (NASDAQ:ADGM – Get Free Report) released its earnings results on Tuesday. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05, FiscalAI reports.

Adagio Medical Stock Performance

Shares of ADGM traded up $0.01 during mid-day trading on Tuesday, hitting $0.95. 50,035 shares of the company’s stock were exchanged, compared to its average volume of 106,735. 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 fifty-two week low of $0.74 and a fifty-two week high of $2.58. The business’s 50 day moving average is $1.18 and its two-hundred day moving average is $1.05. The firm has a market capitalization of $21.08 million, a P/E ratio of -0.55 and a beta of -0.14.

Hedge Funds Weigh In On Adagio Medical

A number of large investors have recently modified their holdings of the business. Cresset Asset Management LLC purchased a new position in Adagio Medical in the second quarter worth $39,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Adagio Medical by 17.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 821,261 shares of the company’s stock worth $1,068,000 after purchasing an additional 121,261 shares during the period. Perceptive Advisors LLC grew its stake in shares of Adagio Medical by 0.7% during the 2nd quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock worth $12,840,000 after purchasing an additional 64,157 shares during the period. Geode Capital Management LLC increased its holdings in shares of Adagio Medical by 88.6% in the 4th quarter. Geode Capital Management LLC now owns 68,342 shares of the company’s stock valued at $71,000 after purchasing an additional 32,100 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Adagio Medical in the fourth quarter valued at about $1,206,000. 48.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler began coverage on Adagio Medical in a research report on Tuesday, April 14th. They issued an “overweight” rating and a $3.00 target price for the company. Zacks Research upgraded Adagio Medical to a “hold” rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings lowered shares of Adagio Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.50.

View Our Latest Report on ADGM

Adagio Medical Company Profile

(Get Free Report)

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.

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