Shares of Pfizer Inc. PFE,
fell 2.1% in Tuesday morning trades, even after the drug maker offered an optimistic earnings outlook for this year. At the JP Morgan Health Care conference, CEO Albert Bourla said the company projects an adjusted earnings per share in 2021 from $ 3.00 to $ 3.10, which is above the current FactSet EPS consensus of $ 2.96 . The company revealed in a filing with the Securities and Exchange Commission that the financial guidance is subject to several assumptions, including current expectations regarding the impact of supply and COVID-19 and COVID-19 vaccine contracts, which remain dynamic. “Pfizer, with partner BioNTech SE BNTX,
have provided a COVID-19 vaccine since it was authorized for emergency use by the Food and Drug Administration. The number of Americans receiving COVID-19 vaccines has so far fallen short of expectations. Pfizer has 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
reached 7.6%.