Match part of line and move to replace part of following line

[AIXSolarisAdmin]

Given a file:

penguin giraffe zebra green
blue bear puppy duck kitty
orange grape lamb koala purple

Move part of the text on a line to the next line in a specific place.

penguin giraffe zebra green
blue bear duck kitty
orange grape puppy koala purple

In this case puppy is moved from line 2 to replace lamb in line 3.

This attempt yields nothing:

sed 's/\(.*\)\(puppy\)\(.*\)/{H;\2}/' -e 's/\(.*\)\(lamb\)\(.*\)/\1{g;p}\3/' text