The VP – Finance of Psychemedics Corp. (NASDAQ: PMD) is Selling Shares

By Carrie Williams

Today, the VP – Finance of Psychemedics Corp. (NASDAQ: PMD), Neil Lerner, sold shares of PMD for $74.25K.

Following Neil Lerner’s last PMD Sell transaction on May 24, 2016, the stock climbed by 11.6%. In addition to Neil Lerner, one other PMD executive reported Sell trades in the last month.

Based on Psychemedics Corp.’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $11.85 million and quarterly net profit of $2.71 million. In comparison, last year the company earned revenue of $7.08 million and had a net profit of $796.4K. The company has a one year high of $26 and a one year low of $7.76. PMD’s market cap is $135.2M and the company has a P/E ratio of 30.37.

The insider sentiment on Psychemedics Corp. has been negative according to 23 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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 firm 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. The company was founded by Werner Baumgartner and Annette Baumgartner on September 24, 1986 and is headquartered in Acton, MA.