Stryker’s (SYK) net other expense decreased from $54.0 million in the third quarter of 2017 to $42.0 million in the latest quarter. While the company saw an income tax benefit of $37.0 million in the third quarter of 2017, in the most recent quarter, it incurred an income tax expense of $56.0 million.
Stryker’s net income jumped from $434.0 million in the third quarter of 2017 to $590.0 million in the latest quarter, which translated into net earnings per share of $1.55 in the third quarter of 2018. Stryker’s net earnings per share were $1.14 in the third quarter of 2017.
For fiscal 2018 and 2019, Stryker’s net income is expected at $2.3 billion and $2.73 billion, respectively, as compared with net income of $1.02 billion in fiscal 2017.
Stryker stock has fluctuated between $147 and $180 levels in 2018 so far. The stock had witnessed strong gains from $147.92 on February 8, 2018, to $179.84 on June 6, 2018, which was its high point for 2018.
Amid the broader market turmoil in October, Stryker stock has seen selling pressure and fell to $156.67 on October 26, 2018. The company’s stock witnessed buying interest in November and is currently trading at $168 levels.
We’ll look at analysts’ views on Stryker stock in the next part.