UPDATE 2-Edwards Lifesciences raises 2017 forecast after strong quarter

(Adds analyst, CEO comments, background, updates shares)

July 26 (Reuters) - Edwards Lifesciences Corp on Wednesday provided a revised full-year earnings forecast with the new low end of the range above Wall Street estimates, and it posted higher-than-expected second-quarter profit on double-digit growth in sales of its transcatheter heart valves.

Edwards now expects adjusted 2017 earnings of $3.65 to $3.85 per share, up from its previous forecast of $3.43 to $3.55 per share. Analysts on average were estimating $3.53 per share, according to Thomson Reuters data.

Edwards shares, which are up about 23 percent for the year, rose almost 4 percent further in extended trading to $120.

Global transcatheter heart valve sales rose 16 percent to $488 million for the quarter.

While that appears to pale compared with the furious 47 percent growth to $539 million in the first quarter, those results included nearly $62 million in inventory stocking sales to Germany ahead of a potential supply interruption due to intellectual property litigation there.

U.S. sales of the systems used to replace diseased aortic valves without open-heart surgery jumped 28 percent from a year ago to $316 million, and exceeded the previous quarter's sales.

"It was just a really good quarter showing the continued adoption of this technology, and there's still a lot of room to run," said Jefferies analyst Raj Denhoy.

"A company of their size putting up these kinds of growth rates, it's definitely notable," he added.

Use of the transcatheter aortic valve replacement (TAVR)systems is approved for patients deemed too frail to endure open-heart surgery and those at intermediate risk. Edwards continues to conduct trials aimed at expanding the potential patient population.

"We are pleased that enrollment has begun in our Early-TAVR trial. This groundbreaking trial is the first of its kind to study severe aortic stenosis patients without diagnosed symptoms," Edwards Chief Executive Michael Mussallem said.

Excluding items, Edwards said it earned $1.08 per share, topping analysts' average expectations by 20 cents.

Sales of traditional surgical heart valves rose 4.2 percent to $207.1 million, while critical care product sales increased 3.7 percent to $147.2 million.

Edwards also issued a forecast for the third quarter for adjusted earnings of 80 to 90 cents per share, with Wall Street looking for 83 cents.

The company posted a net profit of $186.1 million, or 86 cents per share, for the second quarter, compared with a profit of $126.6 million, or 58 cents a share, a year ago. (Reporting by Bill Berkrot in New York; Editing by Leslie Adler and Matthew Lewis)