Shares of Embecta rose after the global medical technology company raised its full-year outlook for adjusted earnings per share as third-quarter earnings beat estimates.

The stock was up 25% to $4.36 in recent trading, but has fallen 64% since the start of the year.

The company reported net income of $21.1 million, or 36 cents a share, compared with $45.5 million, or 78 cents a share, a year earlier.

Adjusted earnings a share were 56 cents a share. Analysts polled by FactSet expected 27 cents a share.

Revenue fell 8.1% to $271.1 million, driven by a decrease in U.S. sales. Analysts polled by FactSet expected $254.5 million.

For the full year, the company forecast revenue between $1.02 billion and $1.04 billion. It raised its adjusted earnings per share guidance to between $1.80 and $1.90 from $1.55 and $1.75.