Shares of Pfizer Inc. PFE,
fell 2.1% in morning trading on Tuesday, even after the drug company gave positive earnings outlook for this year. Speaking at the JP Morgan Health Care Conference, CEO Albert Bourla said the company expects adjusted earnings per share for 2021 of $ 3.00 to $ 3.10, which is higher than the current FactSet EPS consensus of $ 2.96. The company disclosed in a filing with the Securities and Exchange Commission that its financial guidance is subject to a number of assumptions, including current expectations regarding the impact of the COVID-19 pandemic and COVID-19 vaccine supply and contracts. “that remain dynamic.” Pfizer, with partner BioNTech SE BNTX,
have provided a COVID-19 vaccine since it was approved for emergency use by the Food and Drug Administration. The number of Americans who have received COVID-19 vaccines has so far lagged far behind expectations. Pfizer’s stock is up 6.1% in the past three months, while the SPDR Health Care Select Sector ETF XLV,
is up 7.1% and the S&P 500 SPX,
is stuck at 7.6%.