10 Worst Affordable Stocks To Buy Right Now

8. Haemonetics Corporation (NYSE:HAE)

Forward P/E Ratio: 16.55

Earnings Growth This Year: 16.20%

Number of Hedge Fund Holders: 28

Short % of Shares Outstanding: 11.90%

Haemonetics Corporation (NYSE:HAE) is an international healthcare company that provides a range of medical products and solutions. The technology and solutions provided by the company help reduce the cost of healthcare and improve patient care.

The competitive edge of the company lies in the breadth of its portfolio. Its technology portfolio caters to blood and plasma components, surgical suits, and hospital transfusion services. Haemonetics Corporation (NYSE:HAE) Blood Center solutions are enabling a self-sufficient international plasma supply that is helping meet the demand for plasma therapy.

The company is facing challenges due to its planned CSL transition. As a result, its Plasma revenue declined 3% during the fiscal first quarter of 2025, moreover, North America’s disposal revenue was also down 5%. The transition is expected to slow revenue growth to single digits in fiscal year 2025. Haemonetics Corporation (NYSE:HAE) ranks 8th amongst our worst affordable stocks to buy right now as its short interest as a percentage of shares outstanding is at 11.9%.

But there is a bright side to the story as well. While the Plasma revenue declined 3% during the latest quarter they were up 35% last year, indicating its ability to drive business. Moreover, the company achieved 68% revenue growth on a subsequent basis, and management is focused on achieving individual product targets. The first quarter growth was driven by vascular closure devices and increased emphasis utilization across related procedures.

In addition, Haemonetics Corporation (NYSE:HAE) has also announced full market access for VASCADE MVP XL, which has a 58% larger collagen plug, with positive results across medical procedures. The company has already achieved penetration in 600 plus accounts in the US and over 100 accounts in Japan. It is now aiming to enter the European market this year. It also plans to sustain more than 20% growth in the vascular closure business and expand its leadership position in a $2.7 billion market.

Management continues to expect revenue growth between 5% to 8% for the fiscal 2025. It is cheap at current levels as it is trading at 16 times its forward earnings, a 24% discount to its sector. Analysts expect its earnings to grow by 16% during the year. Moreover, HAE was held by 28 hedge funds in Q2 2024, with total stakes worth $278.93 million. Royce & Associates is the top shareholder of the company, with a position worth $97.6 million.