Shares of CooperCompanies (NASDAQ:COO) reached a new 52-week high on Thursday after the contact lens manufacturer exceeded expectations with its Q3 results for fiscal 2024 and set its guidance ahead of consensus.

After the market close on Wednesday, the San Ramon, California-based healthcare supplier reported $0.96 non-GAAP diluted earnings per share on $1.02B in revenue, implying ~14% YoY and ~8% YoY growth, respectively, compared to $0.91 and $1.0B in consensus.

Revenue growth was driven by COO’s CooperVision segment, which added $675.6M to the topline with ~7% YoY growth, while CooperSurgical generated $327.2M with ~9% YoY growth.

Meanwhile, the company’s operating margin improved to 19% from 16% YoY in the prior-year quarter, while gross margin held steady at 66% and GAAP diluted earnings rose ~22% YoY to $0.52 per share.

“Our momentum is strong, and we are well positioned for success today and into the future,” CEO Al White remarked.

CooperCompanies (COO) set its full-year outlook for revenue at $3.892B-$3.913B and non-GAAP diluted EPS at $3.64-$3.67 compared to $3.89B and $3.57 in the consensus, according to Bloomberg data.

Its Q4 outlook for revenue and non-GAAP diluted EPS at $1.015B-$1.036B and $0.98-$1.01 also stood ahead of $1.01B and $0.96 in the consensus, respectively.

In reaction, Wells Fargo raised its price target on the stock to $115 from $110, noting that the company has increased its guidance by more than its Q3 beat and citing strong momentum for its sales growth into fiscal 2025. Analyst Larry Biegelsen has an Overweight rating on the stock.

Baird, which raised COO’s price target to $125 from $118 with an outperform rating, was among other firms to cheer the results.