NEW YORK (TheStreet) -- Boston Scientific Corp.'s (BSX - Get Report)  price target was boosted to $21 from $19 at Jefferies. The firm has a "hold" rating on the stock.

The higher price target comes after the Marlborough, MA-based medical device maker posted strong results for the 2016 first quarter yesterday.

The company reported adjusted earnings of 28 cents per share, higher than analysts' estimates of 24 cents per share. Revenue rose by 11% to $1.96 billion from last year and beat analysts' expectations of $1.91 billion.

"BSX continued its relentless climb up with a quarter that saw +8% organic growth and operating margins that hit a new high of 23.2%. Guidance was also raised. What keeps us at bay is simply valuation; at 18x 2017, shares seem fully valued," Jefferies wrote in a note.

Shares of Boston Scientific are advancing by 0.82% to $22.07 at the start of trading on Thursday.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and revenue growth.

However, the team also finds weaknesses including disappointing return on equity, weak operating cash flow and generally higher debt management risk.

Recently, 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.

You can view the full analysis from the report here: BSX