The firm maintained its "hold" rating on shares of the medical device maker, noting that Boston Scientific is at the high-end of the large-cap medtech range.
Additionally, Boston Scientific posted better-than-expected second-quarter revenue before yesterday's market open and in-line earnings of 27 cents per share.
Revenue of $2.13 billion surpassed analysts estimated $2.05 billion.
Jefferies noted that the company's sales growth was driven by continued strength in cardio and medsurg categories.
"Any doubt that BSX is in a very good & broad product cycle was further put to bed in the Q," Jefferies continued in an analyst note. "However, the company is increasing spending and with little upside seen in EPS, shares seem priced appropriately."
The firm added that it expects mid-single digit revenue growth and margins to further improve in fiscal 2017.
Shares of Boston Scientific are up 0.60% to $24.49 in afternoon trading.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate BOSTON SCIENTIFIC CORP as a Buy with a ratings score of B. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, compelling growth in net income, good cash flow from operations and expanding profit margins. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: BSX