Adagio Medical (NASDAQ:ADGM) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Adagio Medical (NASDAQ:ADGM) to a hold rating in a research report released on Wednesday,Zacks.com reports.

Several other research firms also recently commented on ADGM. Piper Sandler began coverage on shares of Adagio Medical in a research note on Tuesday. They set an “overweight” rating and a $3.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagio Medical in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.50.

Adagio Medical Price Performance

Shares of ADGM traded down $0.00 during midday trading on Wednesday, reaching $1.48. The stock had a trading volume of 2,225 shares, compared to its average volume of 103,967. The company’s 50-day moving average is $1.11 and its 200 day moving average is $1.13. Adagio Medical has a 12-month low of $0.74 and a 12-month high of $2.58. The company has a current ratio of 2.44, a quick ratio of 2.24 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $32.85 million, a price-to-earnings ratio of -0.85 and a beta of 0.04.

Adagio Medical (NASDAQ:ADGM) last posted its quarterly earnings data on Friday, March 27th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.10.

Hedge Funds Weigh In On Adagio Medical

Large investors have recently bought and sold shares of the stock. Cresset Asset Management LLC purchased a new stake in Adagio Medical during the 2nd quarter valued at $39,000. Geode Capital Management LLC boosted its position in 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 buying an additional 32,100 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Adagio Medical during the 4th quarter valued at $308,000. Armistice Capital LLC purchased a new position in Adagio Medical during the 4th quarter valued at about $497,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in 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 valued at $1,068,000 after purchasing an additional 121,261 shares during the period. 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.