Investors with an interest in Medical Services stocks have likely encountered both Pediatrix Medical Group (MD) and Avantor, Inc. (AVTR). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

Pediatrix Medical Group and Avantor, Inc. are sporting Zacks Ranks of #1 (Strong Buy) and #4 (Sell), respectively, right now. Investors should feel comfortable knowing that MD likely has seen a stronger improvement to its earnings outlook than AVTR has recently. But this is only part of the picture for value investors.

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

MD currently has a forward P/E ratio of 11.08, while AVTR has a forward P/E of 21.17. We also note that MD has a PEG ratio of 1.98. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. AVTR currently has a PEG ratio of 2.52.

Another notable valuation metric for MD is its P/B ratio of 1.75. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, AVTR has a P/B of 2.55.

These metrics, and several others, help MD earn a Value grade of A, while AVTR has been given a Value grade of C.

MD is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that MD is likely the superior value option right now.

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