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Baxter International (BAX) Q4 Earnings Beat, Sales Miss

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Headquartered in Deerfield, Illinois, Baxter International Inc. (BAX - Free Report) is a global medical products and services company. The company’s Hospital Products business manufactures products used in the delivery of fluids and drugs to patients. Renal portfolio is mainly for patients with kidney failure/disease and their healthcare providers.

Currently, Baxter International has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2016 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.) We have highlighted some of the key details from the just-released announcement below:

Earnings: Baxter’s adjusted earnings of 57 cents per share beat the Zacks Consensus Estimate of 52 cents and increased by 14 cents from the year-ago quarter.

Revenues:Baxter posted sales of $2.64 billion, marginally missing the Zacks Consensus Estimate for revenues of $2.66 billion. At constant currency (cc), revenues increased 2% on a year-over-year basis.

Key Stats: Hospital products sales increased 1% at cc, while renal products went up 5% from the year-ago quarter.

Major Factors:  Hospital Products sales in the quarter were driven by solid demand for IV solutions, nutritional therapies, pharmacy injectables and IV access administration sets in the U.S. Renal products sales were driven by peritoneal dialysis products as well as increased demand globally for continuous renal replacement therapies.

Stock Price: Shares have risen 2.5% over the past 3 months, while the Zacks categorized Medical Products sub industry has gained roughly 1% over the same time frame.

Check back later for our full write up on this Baxter International report later!

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