Value-oriented investors have been having a tougher time finding deals out there amid such a strong bull run in the markets over the course of 2019. But there are still good deals to be found in this market if you know where to look or have someone looking for you. For example, here are two stocks that could prove to be bargain buys today.

1. TD Bank: Strong fundamentals and a bargain P/E

Toronto-Dominion Bank (TD 0.99%) is coming off a less-than-exciting quarterly result where it disappointed investors by missing expectations. In the fourth quarter, the big Canadian bank's expenses crept up, chipping away at the company's bottom line. Adjusted earnings per share of 1.59 Canadian dollars during the quarter fell well short of the CA$1.74 that analysts were anticipating. A key reason behind the disappointing results is that TD's provision for credit losses increased by 28.5%, reaching CA$891 million.

White columns in front of a glass building with a sign that says bank.

Image Source: Getty Images.

With concerns about the economy on the rise, credit losses being up are sure to put investors on edge. And so it's no surprise that the bank is down as a result of earnings, and its year-to-date returns are a modest 9% thus far. But there's little reason for investors to be worried about TD's long-term future, as the company is one of the top chartered banks in Canada with a significant presence in the U.S. as well.

The bank may have missed earnings expectations, but its fundamentals remain strong, and there's a lot to like about the stock. For one thing, it's really cheap. Trading at less than 12 times price-to-earnings (P/E), TD is on the bargain side, as the stock has normally traded a bit higher in prior years, normally around a P/E of 13.

TD PE Ratio (TTM) Chart

TD PE Ratio (TTM) data by YCharts.

It may not be a big discount, but it's also not a stock that's likely to slump to a P/E of less than 10, either. Regardless of the outlook for the Canadian and U.S. markets, TD just isn't a risky enough stock to fall to a low valuation for a prolonged period. That's why buying the stock even at a P/E of 12 could be a good bargain for investors -- especially with the company now paying a dividend yield north of 4%.

2. Fresenius Medical Care

Fresenius Medical Care (FMS -0.52%) provides products and services that assist people who are struggling with chronic kidney failure. With operations in over 20 countries and serving more than 340,000 patients, the German-based company can give investors a global stock with which to diversify their portfolios.

The company is coming off a strong performance in the third quarter when it released its results back in October. Fresenius Medical Care beat analyst expectations and saw sales grow by 8% from the prior year to 8.8 billion euros. What's appealing about the company's sales are how diverse they are, geographically. Over the past nine months, 42% of the company's sales have come from North America, while 43% of its top line has come from Europe. Fresenius Medical Care also generates 10% of sales from the Asia-Pacific region. With lots of diversification, the stock is very well-insulted should there be any country- or region-specific issues that could adversely impact its results. 

Not surprisingly, the company's performance has been very consistent over the years, with Fresenius Medical Care posting a profit of more than 1 billion euros in each of the past three years, and it's on pace to do so again in 2019.

Not only does Fresenius Medical Care's business make it a very stable long-term investment, but it's also appealing because the stock is as cheap as it is. Trading at a P/E of around 10 and 1.7 times its book value, this is a stock that will appeal to value investors. Its dividend is currently yielding 1.8% and will give investors an extra incentive to hold the stock over the long term, especially since it has increased dividend payments for 26 years in a row. Year to date, the stock is up around 12%.

Both stocks could be good options for investors

Although Fresenius Medical Care may be a cheaper buy, both it and TD are examples of good bargains that are still out there today. Either investment will provide investors with some good diversification, as both have significant operations in multiple countries and not too much exposure to the U.S market. With many overpriced stocks out there on the markets today, TD and Fresenius Medical Care could be in demand if a correction takes place and investors look for better value buys.