Health IT giant Cerner's board of directors has approved a plan to repurchase $100 million more of the company's own stock, raising the total cap to $317 million.
In December, the board had approved repurchasing $217 million of the company's stock, or about 1.2 percent of the company's outstanding shares.
In a news release, CEO Neal Patterson reiterated the repurchasing would be a good use of company funds, indicating he expects Cerner to continue the strong growth that characterized the company's past two quarters.
"This program reflects our commitment to enhancing long-term shareholder value and our confidence in Cerner's prospects as a leader in the growing healthcare industry," said Mr. Patterson in the release.
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