Stephens analyst Chris Cooley reiterates an Overweight rating and $75 price target on Dexcom's (DXCM) shares after the Centers for Medicare and Medicaid Services, or CMS, created a separate benefit category for "therapeutic continuous glucose monitoring, or CGM," establishing Medicare reimbursement for the company's G5 Mobile CGM System 1 year earlier than previously assumed by the Street. The news, coupled with the recent announcement by Medtronic (MDT) to delay the full commercial domestic launch of the 670G, serves to further bolster his confidence in the company's 2017 revenue growth outlook.

Canaccord analyst William Plovanic raised the firm's price target on DexCom to $145 from $144 and keeps a Buy rating on the shares. The firm said they reported a slight;ly better than expected Q1 as the company raised the low-end and mid-point of its revenue guidance and reiterated its adjusted GM/OM/EBITDA margins for 2024.

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Pre-earnings options volume in DexCom is 11.4x normal with calls leading puts 11:2. Implied volatility suggests the market is anticipating a move near 5.8%, or $8.05, after results are released. Median move over the past eight quarters is 5.4%.