Algert Global LLC boosted its stake in Psychemedics Corporation (NASDAQ:PMD) by 2.5% during the second quarter, Holdings Channel reports. The institutional investor owned 54,761 shares of the company’s stock after buying an additional 1,350 shares during the period. Algert Global LLC’s holdings in Psychemedics Corporation were worth $1,366,000 at the end of the most recent reporting period.

Separately, Janney Montgomery Scott LLC boosted 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 valued at $355,000 after buying an additional 1,767 shares in the last quarter. 54.66% of the stock is currently owned by institutional investors and hedge funds.

Shares of Psychemedics Corporation (PMD) opened at 21.23 on Wednesday. The company has a market capitalization of $115.92 million, a PE ratio of 14.25 and a beta of 1.00. The firm’s 50-day moving average is $24.87 and its 200 day moving average is $22.00. Psychemedics Corporation has a 52 week low of $13.81 and a 52 week high of $27.99.

Psychemedics Corporation (NASDAQ:PMD) last issued its 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 net margin of 17.59% and a return on equity of 47.94%. On average, analysts anticipate that Psychemedics Corporation will post $0.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Monday, August 14th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, August 10th. Psychemedics Corporation’s payout ratio is presently 44.44%.

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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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Institutional Ownership by Quarter for Psychemedics Corporation (NASDAQ:PMD)

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