Data is being "increasingly harnessed" in Medtech to improve clinical outcomes and lower costs, and DexCom (DXCM) is the clear leader, Jefferies analyst Raj Denhoy tells investors in a research note. Using data generated from continuous glucose monitors "unquestionably" improves the care and lowers the cost to treat Type 1 and Type 2 diabetics, unlocking significant value, the analyst adds. He believes DexCom is "very well positioned to capture that benefit" with the "unmatched performance" of its sensors and the relationships with other players in the space. Denhoy raised his price target for DexCom to $115 and keeps a Buy rating on the shares.