Shares of Pfizer Inc. PFE,
fell 2.1% in Tuesday morning trading, even after the drugmaker provided an optimistic profit outlook for this year. Speaking at the JP Morgan Health Care Conference, Chief Executive Albert Bourla said the company projects an adjusted earnings per share of $ 3.00 to $ 3.10 for 2021, which is above the current FactSet EPS consensus of $ 2.96. The company disclosed in a filing with the Securities and Exchange Commission that financial guidance is subject to a number of assumptions, including current expectations about the impact of the COVID-19 pandemic and the COVID-19 vaccine supply and contracts, which remain dynamic. “Pfizer, with partner BioNTech SE BNTX,
have been supplying a COVID-19 vaccine since it was authorized for emergency use by the Food and Drug Administration. The number of Americans who have received COVID-19 vaccines has so far fallen short of expectations. Pfizer shares have gained 6.1% in the last three months, while SPDR Health Care Select Sector ETF XLV,
advanced 7.1% and the S&P 500 SPX,
rose 7.6%.
