Dimensional Fund Advisors LP raised its stake in shares of Psychemedics Corp. (NASDAQ:PMD) by 13.5% in the third quarter, Holdings Channel reports. The institutional investor owned 119,779 shares of the company’s stock after acquiring an additional 14,256 shares during the period. Dimensional Fund Advisors LP’s holdings in Psychemedics were worth $2,208,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Psychemedics by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 219,169 shares of the company’s stock valued at $5,468,000 after buying an additional 7,352 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Psychemedics by 84.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,519 shares of the company’s stock valued at $558,000 after buying an additional 13,955 shares during the last quarter. Northern Trust Corp raised its stake in shares of Psychemedics by 96.5% during the 2nd quarter. Northern Trust Corp now owns 38,227 shares of the company’s stock valued at $953,000 after buying an additional 18,778 shares during the last quarter. Gs Investments Inc. purchased a new position in shares of Psychemedics during the 2nd quarter valued at about $387,000. Finally, Quantum Capital Management purchased a new position in shares of Psychemedics during the 3rd quarter valued at about $565,000. Institutional investors and hedge funds own 57.26% of the company’s stock.

Psychemedics Corp. (NASDAQ PMD) opened at $19.55 on Thursday. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.05. Psychemedics Corp. has a 52 week low of $15.99 and a 52 week high of $27.99. The firm has a market capitalization of $107.43, a PE ratio of 17.62 and a beta of 0.81.

Separately, BidaskClub upgraded Psychemedics from a “sell” rating to a “hold” rating in a research note on Saturday, November 4th.

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Psychemedics 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 (NASDAQ:PMD)

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