Michael I. Schaffer Sells 7,548 Shares of Psychemedics Corporation (PMD) Stock
Psychemedics Corporation (NASDAQ:PMD) VP Michael I. Schaffer sold 7,548 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $20.41, for a total transaction of $154,054.68. Following the completion of the transaction, the vice president now owns 41,273 shares of the company’s stock, valued at $842,381.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Psychemedics Corporation (NASDAQ:PMD) traded down 3.40% on Wednesday, hitting $19.87. 32,049 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $22.55 and its 200 day moving average price is $21.66. Psychemedics Corporation has a 1-year low of $13.81 and a 1-year 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.
Psychemedics Corporation (NASDAQ:PMD) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.16 EPS for the quarter. The company had revenue of $9.68 million during the quarter. Psychemedics Corporation had a return on equity of 47.94% and a net margin of 17.59%. On average, equities research analysts expect that Psychemedics Corporation will post $0.93 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Monday, August 14th were paid a $0.15 dividend. The ex-dividend date was Thursday, August 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.02%. Psychemedics Corporation’s dividend payout ratio (DPR) is presently 44.44%.
TRADEMARK VIOLATION NOTICE: This news story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/09/06/michael-i-schaffer-sells-7548-shares-of-psychemedics-corporation-pmd-stock.html.
Several hedge funds have recently made changes to their positions in the company. Moors & Cabot Inc. increased its stake in shares of Psychemedics Corporation by 8.1% in the 2nd quarter. Moors & Cabot Inc. now owns 317,297 shares of the company’s stock valued at $7,906,000 after acquiring an additional 23,674 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Psychemedics Corporation by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 219,169 shares of the company’s stock valued at $5,468,000 after acquiring an additional 7,352 shares during the last quarter. Crawford Investment Counsel Inc. increased its stake in shares of Psychemedics Corporation by 5.1% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 189,233 shares of the company’s stock valued at $4,721,000 after acquiring an additional 9,100 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Psychemedics Corporation by 6.2% in the 2nd quarter. Blair William & Co. IL now owns 127,462 shares of the company’s stock valued at $3,180,000 after acquiring an additional 7,490 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Psychemedics Corporation by 14.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 105,523 shares of the company’s stock valued at $2,633,000 after acquiring an additional 13,078 shares during the last quarter. 57.93% 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.
Receive News & Stock Ratings for Psychemedics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Psychemedics Corporation and related stocks with our FREE daily email newsletter.