Benchmark analyst Bill Sutherland raised the firm’s price target on Augmedix (AUGX) to $6 from $5 and keeps a Buy rating on the shares. The shares rose 89% to a new 52-week high yesterday following the company’s announcement of a strategic investment from HCA Healthcare (HCA) and a current investor as well as a partnership to accelerate development of the Augmedix Go AI-enabled ambient documentation product, the analyst notes. The HCA relationship should accelerate adoption of Go, which carries software margins that should "significantly enhance" Augmedix’s average gross margin, the analyst tells investors.
Published first on TheFly
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