Here’s Why Centene Corporation (CNC) Fell in Q4

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Soumya Eswaran

Wed, April 1, 2026 astatine 9:21 AM CDT 4 min read

Artisan Partners, an concern absorption company, released its fourth-quarter 2025 capitalist missive for “Artisan Mid Cap Value Fund”. A transcript of the missive tin beryllium downloaded here. The Fund seeks to put successful undervalued companies with coagulated fiscal wellness and compelling concern economics. US equities continued to beforehand successful the 4th fourth of 2025, contempt volatility. At the commencement of the quarter, a authorities shutdown unsettled investors and delayed cardinal economical data, raising questions astir the Federal Reserve's easing timeline. However, arsenic the 4th progressed, hazard appetite increased, and clarity astir monetary argumentation improved, starring the Fed to instrumentality complaint cuts and extremity quantitative tightening. This suggests a continued easing of fiscal conditions into 2026. While AI remained a cardinal focus, markets diversified successful November, with worth and non-AI stocks leading. This could bespeak a displacement successful marketplace enactment moving forward. Mid-cap stocks lagged ample caps successful Q4, peculiarly connected the maturation side, arsenic the Russell Midcap® Growth Index declined 3.7% portion mid-cap worth posted a humble summation and outperformed the maturation scale for the 4th and afloat year. In the quarter, the fund’s Investor Class money ARTQX returned 1.53%, Advisor Class money APDQX posted a instrumentality of 1.54%, and Institutional Class money APHQX returned 1.63%, compared to a 1.42% instrumentality for the Russell Midcap Value Index. Please reappraisal the Fund’s apical 5 holdings to summation insights into their cardinal selections for 2025.

In its fourth-quarter 2025 capitalist letter, Artisan Mid Cap Value Fund highlighted Centene Corporation (NYSE:CNC). Centene Corporation (NYSE:CNC) is simply a healthcare endeavor that offers services to under-insured and uninsured families and commercialized organizations. On March 31, 2026, Centene Corporation (NYSE:CNC) closed astatine $32.74 per share. One-month instrumentality of Centene Corporation (NYSE:CNC) was -26.29%, and its shares mislaid 45.40% implicit the past 52 weeks. Centene Corporation (NYSE:CNC) has a marketplace capitalization of $16.302 billion.

Artisan Mid Cap Value Fund stated the pursuing regarding Centene Corporation (NYSE:CNC) successful its 4th fourth 2025 capitalist letter:

"Another cardinal detractor was Centene Corporation (NYSE:CNC), a managed attraction organization. Centene’s shares plunged aft the institution withdrew its 2025 guidance driven by higher-than-expected marketplace acuity (i.e., hazard adjustments) connected the ACA (Affordable Care Act) marketplaces and elevated Medicaid outgo trends. These pressures were successful summation to the declining inclination successful Medicaid enrollment that had already been weighing connected the business. During the pandemic, states were prohibited from disenrolling radical from Medicaid, but since April 2023, erstwhile this argumentation ended, states person resumed afloat eligibility redeterminations, causing millions of radical to suffer coverage. Medicaid enrollment volition apt spot an further headwind erstwhile caller enactment requirements signed into instrumentality from the One Big Beautiful Bill (OBBB) instrumentality effect connected January 1, 2027. Centene and different wellness insurers tin reprice hazard annually, which tin alteration their concern economics to retrieve implicit time; however, the multitude of headwinds Centene is facing, including the imminent changes from the OBBB, volition apt hold specified a recovery. Given these concerns and amended opportunities elsewhere, we chose to exit our position."

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