DexCom initiated with a Buy at Benchmark

Benchmark last night initiated coverage of DexCom (DXCM) with a Buy rating and $77 price target The company is positioned for margin expansion over the next two years as it launches a new continuous glucose monitor sensor, the G7 15 Day, the analyst tells investors in a research note. The firm says additional upside could come from new reimbursement for the non-insulin-using type 2 market, which it believes is not contemplated in the current estimates.