NEW YORK (TheStreet) -- CVS Health Corp. (CVS) - Get Report  is scheduled to report its third quarter fiscal 2015 quarterly data on Friday before the opening bell. 

Both profit and revenue are projected to grow year-over-year.

Analysts are estimating the company to earn $1.29 a share on revenue of $37.89 billion.

For the third quarter of fiscal 2014, the company earned $1.15 a share on revenue of $35.02 billion.

Separately, Walgreens Boots Alliance (WBA) said on Tuesday that it will buy its smaller rival Rite Aid (RAD) for $9.4 billion. If the deal passes, the two companies' major rival will be CVS Health, USA Today reports.

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Shares of CVS Health are rising 0.34% to $104.17 on Thursday.

Based in Woonsocket, RI, CVS Health provides integrated pharmacy health care services in the U.S.

Separately, TheStreet Ratings team rates CVS HEALTH CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

We rate CVS HEALTH CORP (CVS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, good cash flow from operations and solid stock price performance. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth came in higher than the industry average of 3.3%. Since the same quarter one year prior, revenues slightly increased by 7.4%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • CVS HEALTH CORP has improved earnings per share by 5.7% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, CVS HEALTH CORP increased its bottom line by earning $3.96 versus $3.75 in the prior year. This year, the market expects an improvement in earnings ($5.16 versus $3.96).
  • The company, on the basis of net income growth from the same quarter one year ago, has significantly outperformed against the S&P 500 and exceeded that of the Food & Staples Retailing industry average. The net income increased by 2.1% when compared to the same quarter one year prior, going from $1,246.00 million to $1,272.00 million.
  • Net operating cash flow has increased to $1,037.00 million or 15.60% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of -6.38%.
  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 25.27% over the past year, a rise that has exceeded that of the S&P 500 Index. Looking ahead, the stock's sharp rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
  • You can view the full analysis from the report here: CVS