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UPDATE 1-Baxter International's quarterly profit beats estimates

(Adds analysts' estimate)

Feb 1 (Reuters) - Hospital product maker Baxter International Inc reported fourth-quarter earnings above Wall Street estimates, helped by strong demand for its surgical and renal products.

The company forecast full-year adjusted earnings per share to be between $2.72 and $2.80. Analysts on average were expecting profit of $2.72 per share, according to Thomson Reuters I/B/E/S.

Sales in its medical products business which includes intravenous fluid systems, dialysis, biosurgery and some specialty pharmaceuticals such as anesthesia and nutrition rose 4.6 pecrent to $1.71 billion in the quarter.

Its renal products business grew 5.3 percent to $1.07 billion.

Baxter posted net loss of $71 million, or 13 cents per share, in the quarter ended Dec 31, compared with a profit of $243 million, or 44 cents per share, a year earlier.

The company took a tax charge of $354 million due to the changes in the U.S. tax law.

Excluding the charge, the company earned 64 cents per share, beating the average analyst estimate of 59 cents.

Net sales rose about 5 percent to $2.77 billion and was in line with the analysts' expectations. (Reporting by Divya Grover in Bengaluru; Editing by Arun Koyyur)