a single head of small livestock from the flock: one sheep or goat, often a lamb or kid
This word names one animal taken from the flock. In ancient Israel the flock held both sheep and goats together, and this word points to a single member of it without first deciding which kind. When the writer wants to be exact, a following word does the narrowing: the law in Deuteronomy can speak of "one of the sheep" and "one of the goats" using this same base word for the animal in each case, and the Passover rule lets the household take its animal either from the sheep or from the goats. So the word is best understood as "a head of the flock" rather than a particular species.
Because it picks out one animal, it is the natural word for the creature on an altar, the beast a thief must repay, and the stray that wanders off. English translators reach for sheep, lamb, kid, or simply cattle depending on the scene, but the underlying idea stays the same throughout: a single animal of the flock.
The word carries no second, unrelated meaning. Its range is the range of one idea applied to many settings, from sacrifice and law to the shepherd imagery of the prophets and psalms.