The VP of Laboratory Operations of Psychemedics Corp (NASDAQ: PMD) is Selling Shares

By Carrie Williams

Today, the VP of Laboratory Operations of Psychemedics Corp (NASDAQ: PMD), Michael Schaffer, sold shares of PMD for $61.29K.

In addition to Michael Schaffer, 10 other PMD executives reported Sell trades in the last month.

Based on Psychemedics Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $10.21 million and quarterly net profit of $1.5 million. In comparison, last year the company earned revenue of $6.67 million and had a GAAP net loss of $23.44K. The company has a one year high of $27.46 and a one year low of $10.81. PMD’s market cap is $112M and the company has a P/E ratio of 13.77.

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Psychemedics Corp. engages in the provision of drug testing services through the analysis of hair samples. Its testing methods utilize a technology that digests the hair and releases drugs trapped in the hair without destroying the drugs. The company performs custom-designed enzyme immunoassay on the liquid supernatant, with confirmation testing by mass spectrometry. It provides screening and confirmation by mass spectrometry for cocaine; marijuana; phencyclidine; amphetamines including ecstasy; and opiates such as including heroin, hydrocodone, hydromorphone, oxycodone and codeine. Psychemedics was founded by Werner Baumgartner and Annette Baumgartner on September 24, 1986 and is headquartered in Acton, MA.