Psychemedics Corp. (PMD) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its stake in shares of Psychemedics Corp. (NASDAQ:PMD) by 96.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,227 shares of the company’s stock after acquiring an additional 18,778 shares during the quarter. Northern Trust Corp owned approximately 0.70% of Psychemedics worth $953,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in shares of Psychemedics by 14.2% during the second quarter. Janney Montgomery Scott LLC now owns 14,218 shares of the company’s stock worth $355,000 after purchasing an additional 1,767 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Psychemedics by 8.8% during the second quarter. JPMorgan Chase & Co. now owns 16,564 shares of the company’s stock worth $413,000 after purchasing an additional 1,345 shares during the period. LSV Asset Management raised its holdings in shares of Psychemedics by 193.4% during the second quarter. LSV Asset Management now owns 26,404 shares of the company’s stock worth $658,000 after purchasing an additional 17,404 shares during the period. Seizert Capital Partners LLC acquired a new stake in shares of Psychemedics during the second quarter worth $740,000. Finally, AJO LP acquired a new stake in shares of Psychemedics during the second quarter worth $832,000. Hedge funds and other institutional investors own 57.35% of the company’s stock.

Shares of Psychemedics Corp. (PMD) opened at $20.40 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.72 and a quick ratio of 2.72. Psychemedics Corp. has a twelve month low of $13.81 and a twelve month high of $27.99. The firm has a market cap of $109.57, a PE ratio of 17.97 and a beta of 0.96.

Psychemedics (NASDAQ:PMD) last released its quarterly earnings data on Tuesday, October 24th. The company reported $0.25 earnings per share for the quarter. Psychemedics had a net margin of 15.06% and a return on equity of 37.33%. The business had revenue of $10.05 million for the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were issued a $0.15 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.94%. Psychemedics’s dividend payout ratio (DPR) is presently 54.05%.

Separately, BidaskClub raised shares of Psychemedics from a “sell” rating to a “hold” rating in a report on Saturday, November 4th.

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Psychemedics Profile

Psychemedics Corporation (Psychemedics) provides hair testing for drugs of abuse, utilizing a hair analysis method involving digestion of hair, enzyme immunoassay (EIA) technology and confirmation by mass spectrometry to analyze human hair to detect abused substances. The Company operates in drug testing services segment.

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Institutional Ownership by Quarter for Psychemedics (NASDAQ:PMD)

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