Psychemedics Corporation (NASDAQ:PMD) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Shares of Psychemedics Corporation (NASDAQ PMD) traded up $0.42 on Friday, reaching $18.02. The company’s stock had a trading volume of 16,267 shares, compared to its average volume of 16,350. The firm has a market cap of $98.86 million, a price-to-earnings ratio of 16.22 and a beta of 0.94. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.72 and a current ratio of 2.72.

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

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In other news, VP Michael I. Schaffer sold 7,548 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $20.41, for a total value of $154,054.68. Following the completion of the sale, the vice president now directly owns 41,273 shares of the company’s stock, valued at $842,381.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael I. Schaffer sold 4,400 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $20.37, for a total value of $89,628.00. Following the completion of the sale, the vice president now directly owns 41,273 shares of the company’s stock, valued at $840,731.01. The disclosure for this sale can be found here. Insiders have sold 12,929 shares of company stock valued at $264,441 in the last ninety days. Company insiders own 8.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PMD. Mountain Capital Investment Advisors Inc bought a new position in Psychemedics Corporation in the second quarter worth $136,000. Connors Investor Services Inc. lifted its position in Psychemedics Corporation by 13.3% in the second quarter. Connors Investor Services Inc. now owns 11,902 shares of the company’s stock worth $297,000 after purchasing an additional 1,400 shares during the period. Janney Montgomery Scott LLC lifted its position in Psychemedics Corporation by 14.2% in 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. Carl Domino Inc lifted its position in Psychemedics Corporation by 0.6% in the second quarter. Carl Domino Inc now owns 14,485 shares of the company’s stock worth $361,000 after purchasing an additional 92 shares during the period. Finally, Gs Investments Inc. bought a new position in Psychemedics Corporation in the second quarter worth $387,000. 58.18% of the stock is owned by institutional investors.

About Psychemedics Corporation

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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