Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company value investors might notice is Henry Schein (HSIC Quick QuoteHSIC - Free Report) . HSIC is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 17.04. This compares to its industry's average Forward P/E of 17.96. Over the last 12 months, HSIC's Forward P/E has been as high as 21.02 and as low as 15.13, with a median of 17.51.

HSIC is also sporting a PEG ratio of 1.44. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. HSIC's industry has an average PEG of 1.87 right now. Within the past year, HSIC's PEG has been as high as 2.85 and as low as 1.17, with a median of 1.46.

We should also highlight that HSIC has a P/B ratio of 2.86. 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. HSIC's current P/B looks attractive when compared to its industry's average P/B of 5.91. Within the past 52 weeks, HSIC's P/B has been as high as 2.92 and as low as 2.20, with a median of 2.64.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. HSIC has a P/S ratio of 0.93. This compares to its industry's average P/S of 1.58.

Finally, investors will want to recognize that HSIC has a P/CF ratio of 13.98. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. HSIC's P/CF compares to its industry's average P/CF of 25.03. Over the past 52 weeks, HSIC's P/CF has been as high as 19.02 and as low as 12.07, with a median of 13.69.

McKesson (MCK Quick QuoteMCK - Free Report) may be another strong Medical - Dental Supplies stock to add to your shortlist. MCK is a # 2 (Buy) stock with a Value grade of A.

McKesson is trading at a forward earnings multiple of 11.76 at the moment, with a PEG ratio of 0.99. This compares to its industry's average P/E of 17.96 and average PEG ratio of 1.87.

MCK's price-to-earnings ratio has been as high as 12.42 and as low as 9.17, with a median of 10.06, while its PEG ratio has been as high as 1.73 and as low as 0.96, with a median of 1.32, all within the past year.

McKesson also has a P/B ratio of -51.07 compared to its industry's price-to-book ratio of 5.91. Over the past year, its P/B ratio has been as high as 184.34, as low as -717.21, with a median of -347.85.

Value investors will likely look at more than just these metrics, but the above data helps show that Henry Schein and McKesson are likely undervalued currently. And when considering the strength of its earnings outlook, HSIC and MCK sticks out as one of the market's strongest value stocks.