Psychemedics Corporation (PMD) Stock Rating Upgraded by BidaskClub
Psychemedics Corporation (NASDAQ:PMD) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday.
Psychemedics Corporation (PMD) opened at $18.02 on Friday. Psychemedics Corporation has a 1-year low of $13.81 and a 1-year high of $27.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.72 and a quick ratio of 2.72. The firm has a market capitalization of $98.97, a PE ratio of 16.23 and a beta of 0.94.
Psychemedics Corporation (NASDAQ:PMD) last posted its earnings results on Tuesday, October 24th. The company reported $0.25 earnings per share for the quarter. Psychemedics Corporation had a return on equity of 37.33% and a net margin of 15.06%. The company had revenue of $10.05 million for the quarter.
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In other news, VP Michael I. Schaffer sold 4,400 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $20.37, for a total value of $89,628.00. Following the transaction, the vice president now owns 41,273 shares of the company’s stock, valued at $840,731.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $154,054.68. Following the completion of the transaction, the vice president now directly owns 41,273 shares in the company, valued at approximately $842,381.93. The disclosure for this sale can be found here. In the last three months, insiders sold 12,929 shares of company stock worth $264,441. 8.60% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Carl Domino Inc raised its stake in shares of 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 buying an additional 92 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Psychemedics Corporation by 8.8% in the second quarter. JPMorgan Chase & Co. now owns 16,564 shares of the company’s stock worth $413,000 after buying an additional 1,345 shares during the period. Algert Global LLC raised its stake in shares of Psychemedics Corporation by 2.5% in the second quarter. Algert Global LLC now owns 54,761 shares of the company’s stock worth $1,366,000 after buying an additional 1,350 shares during the period. Connors Investor Services Inc. raised its stake in shares of 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 buying an additional 1,400 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of 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 buying an additional 1,767 shares during the period. 58.18% of the stock is currently owned by hedge funds and other institutional investors.
Psychemedics Corporation Company 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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