Big Short’s Michael Burry Is Betting On These 5 Stocks

2. Pfizer Inc. (NYSE: PFE)

The hedge fund has invested $31 million in Pfizer Inc. (NYSE: PFE) call position, according to the latest filings. It is the second-largest stock position of Scion Asset Management, accounting for 13.83% of the overall portfolio. However, shares of Pfizer fell sharply since the beginning of this year, losing all the gains it had generated on coronavirus vaccine discovery. The company has generated 11.8% year-over-year revenue growth in the latest quarter.

The New York-based drug maker announced mixed financial results for the fourth quarter. It reported earnings of $594 million, or 10 cents per share for the quarter, as compared to a loss of $337 million, or 6 cents per share in the comparable period of 2019. On an adjusted basis, profit rose to 42 cents per share but missed the consensus forecast of 50 cents per share.

Revenue jumped 12 percent on a year-over-year basis to $11.68 billion, beating the analysts’ average estimate of $11.48 billion. If we look at the sales performance of different segments, oncology vaccines revenue jumped 17 percent, while rare disease vaccines revenue climbed 26 percent in the quarter. Moreover, revenue from internal medicine and hospital segments rose 1 percent and 8 percent, respectively.

Pfizer raised its earnings outlook for 2021. It now expects to report earnings in the range of $3.10 per share to $3.20 per share for the current fiscal year, as compared to its previous guidance between $3.00 per share to $3.10 per share. Moreover, revenue is expected to come between $59.4 billion to $61.4 billion, as compared to the consensus forecast of $58.3 billion.

The improved outlook came as the company expects to generate $15 billion in revenue from its COVID-19 vaccine. Pfizer plans to make 2 billion doses of the vaccine this year.