Psychemedics Corp. (NASDAQ:PMD) VP Sells $90,883.94 in Stock

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Psychemedics Corp. (NASDAQ:PMD) VP Michael I. Schaffer sold 9,331 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $9.74, for a total transaction of $90,883.94. Following the completion of the transaction, the vice president now owns 25,700 shares of the company’s stock, valued at $250,318. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PMD opened at $9.98 on Friday. The company has a market capitalization of $54.96 million, a price-to-earnings ratio of 14.06 and a beta of 0.76. Psychemedics Corp. has a 1-year low of $9.40 and a 1-year high of $22.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 3.08.

Psychemedics (NASDAQ:PMD) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.11 earnings per share for the quarter. The business had revenue of $9.82 million during the quarter. Psychemedics had a net margin of 9.53% and a return on equity of 21.41%.

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Tuesday, May 7th were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.21%.

Several large investors have recently modified their holdings of PMD. O Shaughnessy Asset Management LLC boosted its position in shares of Psychemedics by 400.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,693 shares of the company’s stock worth $90,000 after acquiring an additional 4,556 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Psychemedics by 74.9% during the first quarter. Wells Fargo & Company MN now owns 9,526 shares of the company’s stock worth $133,000 after acquiring an additional 4,081 shares during the last quarter. Alambic Investment Management L.P. bought a new position in shares of Psychemedics during the first quarter worth $163,000. Connors Investor Services Inc. boosted its position in shares of Psychemedics by 19.6% during the first quarter. Connors Investor Services Inc. now owns 15,426 shares of the company’s stock worth $216,000 after acquiring an additional 2,524 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its position in shares of Psychemedics by 11.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 17,000 shares of the company’s stock worth $239,000 after acquiring an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 57.71% of the company’s stock.

Separately, TheStreet lowered shares of Psychemedics from a “b-” rating to a “c+” rating in a research report on Tuesday, April 2nd.

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Psychemedics Company Profile

Psychemedics Corporation provides testing services for the detection of drugs of abuse through the analysis of hair samples in the United States and internationally. The company's tests provide quantitative information that can indicate the approximate amount of drug ingested, as well as historical data, which can show a pattern of individual drug use over a longer period of time.

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