Janney Montgomery Scott LLC increased its stake in shares of Psychemedics Corporation (NASDAQ:PMD) by 14.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,218 shares of the company’s stock after acquiring an additional 1,767 shares during the period. Janney Montgomery Scott LLC owned about 0.26% of Psychemedics Corporation worth $355,000 as of its most recent filing with the SEC.
Separately, Carl Domino Inc raised its stake in Psychemedics Corporation by 0.6% in the second quarter. Carl Domino Inc now owns 14,485 shares of the company’s stock valued at $361,000 after buying an additional 92 shares during the period. 57.93% of the stock is owned by institutional investors.
Psychemedics Corporation (NASDAQ PMD) traded down 3.40% during mid-day trading on Wednesday, reaching $19.87. The company’s stock had a trading volume of 32,049 shares. Psychemedics Corporation has a 52-week low of $13.81 and a 52-week high of $27.99. The company has a market cap of $109.11 million, a price-to-earnings ratio of 14.66 and a beta of 1.02. The firm has a 50 day moving average price of $22.37 and a 200 day moving average price of $21.65.
Psychemedics Corporation (NASDAQ:PMD) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.16 EPS for the quarter. Psychemedics Corporation had a net margin of 17.59% and a return on equity of 47.94%. The business had revenue of $9.68 million during the quarter. Equities research analysts anticipate that Psychemedics Corporation will post $0.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Monday, August 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.60 annualized dividend and a dividend yield of 3.02%. Psychemedics Corporation’s dividend payout ratio is currently 44.44%.
In other news, VP Michael I. Schaffer sold 7,548 shares of Psychemedics Corporation stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $20.41, for a total value of $154,054.68. Following the transaction, the vice president now owns 41,273 shares of the company’s stock, valued at approximately $842,381.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael I. Schaffer sold 4,400 shares of Psychemedics Corporation stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $20.37, for a total transaction of $89,628.00. Following the completion of the transaction, the vice president now directly owns 41,273 shares in the company, valued at approximately $840,731.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,929 shares of company stock valued at $264,441. Company insiders own 8.60% of the company’s stock.
Psychemedics Corporation 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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